Nomura Holdings Inc. Takes Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Nomura Holdings Inc. acquired a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 16,257 shares of the financial services provider's stock, valued at approximately $1,013,000.

Several other hedge funds also recently modified their holdings of the stock. Kapitalo Investimentos Ltda acquired a new stake in Commerce Bancshares in the 4th quarter valued at $26,000. CoreFirst Bank & Trust acquired a new stake in Commerce Bancshares in the 4th quarter valued at $33,000. Marshall Investment Management LLC acquired a new stake in Commerce Bancshares in the 4th quarter valued at $35,000. V Square Quantitative Management LLC grew its position in Commerce Bancshares by 84.0% in the 4th quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider's stock valued at $49,000 after purchasing an additional 361 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its position in Commerce Bancshares by 46.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 839 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 268 shares during the period. Institutional investors own 70.26% of the company's stock.

Insider Transactions at Commerce Bancshares

In related news, Director June Mcallister Fowler sold 1,618 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $60.72, for a total value of $98,244.96. Following the sale, the director now directly owns 3,175 shares in the company, valued at approximately $192,786. The trade was a 33.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.10% of the company's stock.

Analysts Set New Price Targets

CBSH has been the subject of several research reports. Wall Street Zen downgraded shares of Commerce Bancshares from a "hold" rating to a "sell" rating in a research report on Wednesday. Wells Fargo & Company cut their price objective on shares of Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. Keefe, Bruyette & Woods cut their price objective on shares of Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Morgan Stanley raised shares of Commerce Bancshares from an "underweight" rating to an "equal weight" rating and cut their price objective for the stock from $66.00 to $58.00 in a report on Monday, April 7th. Finally, Piper Sandler lifted their price objective on shares of Commerce Bancshares from $65.00 to $66.00 and gave the stock a "neutral" rating in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $63.20.

Commerce Bancshares Price Performance

Shares of NASDAQ CBSH traded down $0.47 during mid-day trading on Friday, reaching $62.76. 484,581 shares of the company's stock were exchanged, compared to its average volume of 594,419. The firm has a market capitalization of $8.37 billion, a price-to-earnings ratio of 15.65, a price-to-earnings-growth ratio of 2.13 and a beta of 0.60. Commerce Bancshares, Inc. has a 52 week low of $49.97 and a 52 week high of $72.75. The firm has a 50-day moving average price of $61.21 and a two-hundred day moving average price of $64.41.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last released its earnings results on Wednesday, April 16th. The financial services provider reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.05. The company had revenue of $428.05 million for the quarter, compared to analysts' expectations of $417.85 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. As a group, sell-side analysts forecast that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date is Friday, June 6th. Commerce Bancshares's payout ratio is 26.63%.

Commerce Bancshares Profile

Commerce Bancshares, Inc operates as the bank holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses in the United States. It operates through three segments: Consumer, Commercial, and Wealth.