Swiss National Bank Has $15.42 Million Stake in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Swiss National Bank trimmed its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 1.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 247,739 shares of the financial services provider's stock after selling 4,600 shares during the period. Swiss National Bank owned 0.19% of Commerce Bancshares worth $15,417,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new position in Commerce Bancshares during the first quarter worth $1,855,000. Integrated Wealth Concepts LLC bought a new position in Commerce Bancshares during the fourth quarter worth $842,000. GAMMA Investing LLC boosted its position in Commerce Bancshares by 64.9% during the first quarter. GAMMA Investing LLC now owns 1,878 shares of the financial services provider's stock worth $117,000 after purchasing an additional 739 shares during the period. Novem Group boosted its position in Commerce Bancshares by 35.3% during the first quarter. Novem Group now owns 16,663 shares of the financial services provider's stock worth $1,037,000 after purchasing an additional 4,344 shares during the period. Finally, Advisor Resource Council bought a new position in Commerce Bancshares during the first quarter worth $316,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Commerce Bancshares Stock Performance

Shares of Commerce Bancshares stock opened at $62.04 on Thursday. The firm has a 50-day moving average of $62.46 and a 200-day moving average of $62.61. The stock has a market cap of $8.28 billion, a PE ratio of 14.77, a PEG ratio of 2.81 and a beta of 0.61. Commerce Bancshares, Inc. has a 52-week low of $52.69 and a 52-week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $1.14 EPS for the quarter, beating analysts' consensus estimates of $1.02 by $0.12. Commerce Bancshares had a return on equity of 16.01% and a net margin of 26.37%. The business had revenue of $445.76 million during the quarter, compared to the consensus estimate of $434.11 million. During the same quarter in the previous year, the firm earned $1.02 earnings per share. Commerce Bancshares's revenue for the quarter was up 7.6% compared to the same quarter last year. Equities research analysts predict that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 5th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.10 annualized dividend and a yield of 1.8%. Commerce Bancshares's dividend payout ratio is currently 26.19%.

Analyst Ratings Changes

A number of equities analysts have commented on CBSH shares. Wall Street Zen cut shares of Commerce Bancshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Keefe, Bruyette & Woods reduced their price objective on shares of Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating for the company in a research report on Thursday, April 17th. Bank of America lifted their price objective on shares of Commerce Bancshares from $69.00 to $71.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 24th. Wells Fargo & Company boosted their target price on shares of Commerce Bancshares from $62.00 to $69.00 and gave the company an "equal weight" rating in a research report on Monday, July 21st. Finally, Morgan Stanley boosted their target price on shares of Commerce Bancshares from $58.00 to $61.00 and gave the company an "equal weight" rating in a research report on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $68.20.

About Commerce Bancshares

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.

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