Swiss National Bank Decreases Stake in Commerce Bancshares, Inc. $CBSH

Swiss National Bank cut its holdings 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 filing with the Securities & Exchange Commission. The institutional investor owned 247,739 shares of the financial services provider's stock after selling 4,600 shares during the quarter. Swiss National Bank owned 0.19% of Commerce Bancshares worth $15,417,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Kapitalo Investimentos Ltda purchased a new position in shares of Commerce Bancshares in the 4th quarter valued at about $26,000. IMA Advisory Services Inc. acquired a new position in shares of Commerce Bancshares during the first quarter worth about $29,000. Allworth Financial LP grew its position in shares of Commerce Bancshares by 55.0% during the first quarter. Allworth Financial LP now owns 651 shares of the financial services provider's stock worth $40,000 after buying an additional 231 shares in the last quarter. Transce3nd LLC acquired a new position in shares of Commerce Bancshares during the fourth quarter worth about $68,000. Finally, GAMMA Investing LLC grew its position in shares of 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 buying an additional 739 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Wells Fargo & Company boosted their price objective on Commerce Bancshares from $62.00 to $69.00 and gave the stock an "equal weight" rating in a research report on Monday, July 21st. Wall Street Zen downgraded Commerce Bancshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Morgan Stanley boosted their price objective on Commerce Bancshares from $58.00 to $61.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 17th. Bank of America raised their target price on Commerce Bancshares from $69.00 to $71.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 24th. Finally, Piper Sandler raised their target price on Commerce Bancshares from $66.50 to $70.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $68.20.

Commerce Bancshares Price Performance

Shares of NASDAQ CBSH traded down $0.07 during midday trading on Monday, hitting $61.12. 101,046 shares of the company's stock were exchanged, compared to its average volume of 644,855. The firm's fifty day simple moving average is $62.40 and its 200-day simple moving average is $62.48. The company has a market cap of $8.16 billion, a PE ratio of 14.54, a P/E/G ratio of 2.80 and a beta of 0.61. Commerce Bancshares, Inc. has a twelve month low of $52.69 and a twelve month high of $72.75.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $445.76 million for the quarter, compared to the consensus estimate of $434.11 million. During the same quarter last year, the business posted $1.02 EPS. The firm's quarterly revenue was up 7.6% compared to the same quarter last year. Equities analysts anticipate that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, September 5th. Commerce Bancshares's dividend payout ratio (DPR) is 26.19%.

Commerce Bancshares Company 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.