Teza Capital Management LLC Takes $496,000 Position in Commerce Bancshares, Inc. $CBSH

Key Points

• Teza Capital Management LLC has acquired 7,978 shares of Commerce Bancshares, Inc., valued at approximately $496,000, indicating a growing institutional interest in the financial services provider.
• Commerce Bancshares recently announced a quarterly dividend of $0.275 per share, reflecting an annualized yield of 1.8% and a dividend payout ratio of 26.19%.
• The stock has seen a 1.7% decline recently, with a current market cap of $8.08 billion, while research analysts have issued mixed ratings, reflecting caution among investors.

Teza Capital Management LLC purchased a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,978 shares of the financial services provider's stock, valued at approximately $496,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC lifted its holdings in Commerce Bancshares by 19.6% during the first quarter. Integrated Wealth Concepts LLC now owns 16,162 shares of the financial services provider's stock worth $1,006,000 after acquiring an additional 2,649 shares in the last quarter. Curi RMB Capital LLC bought a new position in Commerce Bancshares during the first quarter worth about $258,000. Alliancebernstein L.P. lifted its holdings in Commerce Bancshares by 67.6% during the first quarter. Alliancebernstein L.P. now owns 271,115 shares of the financial services provider's stock worth $16,871,000 after acquiring an additional 109,375 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in Commerce Bancshares by 104.3% during the first quarter. Adage Capital Partners GP L.L.C. now owns 323,215 shares of the financial services provider's stock worth $20,114,000 after acquiring an additional 165,000 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC bought a new position in Commerce Bancshares during the first quarter worth about $205,000. 70.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CBSH has been the topic of a number of research reports. Zacks Research lowered shares of Commerce Bancshares from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 27th. Morgan Stanley lifted their price target on shares of Commerce Bancshares from $58.00 to $61.00 and gave the company an "equal weight" rating in a research note on Tuesday, June 17th. Wells Fargo & Company lifted their price target on shares of Commerce Bancshares from $62.00 to $69.00 and gave the company an "equal weight" rating in a research note on Monday, July 21st. Bank of America lifted their price target on shares of Commerce Bancshares from $69.00 to $71.00 and gave the company a "neutral" rating in a research note on Tuesday, June 24th. Finally, Piper Sandler lifted their price target on shares of Commerce Bancshares from $66.50 to $70.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Seven equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $68.20.

Commerce Bancshares Stock Performance

NASDAQ CBSH traded up $0.19 during trading on Thursday, hitting $60.11. The stock had a trading volume of 803,063 shares, compared to its average volume of 676,357. The company has a market capitalization of $8.02 billion, a PE ratio of 14.31, a P/E/G ratio of 2.76 and a beta of 0.61. The company's 50-day moving average price is $62.36 and its two-hundred day moving average price is $61.94. Commerce Bancshares, Inc. has a 12 month low of $52.69 and a 12 month high of $72.75.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last released its earnings results on Wednesday, July 16th. The financial services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.02 by $0.12. The firm had revenue of $445.76 million for the quarter, compared to analysts' expectations of $434.11 million. Commerce Bancshares had a return on equity of 16.01% and a net margin of 26.37%.The business's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.02 EPS. As a group, equities analysts anticipate that Commerce Bancshares, Inc. will post 3.94 earnings per share 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. Investors of record on Friday, September 5th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, September 5th. Commerce Bancshares's dividend payout ratio is presently 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.