Commerce Bancshares, Inc. (NASDAQ:CBSH) Holdings Lifted by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 26.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 456,563 shares of the financial services provider's stock after buying an additional 94,287 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.36% of Commerce Bancshares worth $28,448,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Voloridge Investment Management LLC grew its holdings in shares of Commerce Bancshares by 35.9% during the 4th quarter. Voloridge Investment Management LLC now owns 390,949 shares of the financial services provider's stock worth $24,360,000 after purchasing an additional 103,335 shares during the period. Tidal Investments LLC grew its holdings in shares of Commerce Bancshares by 6.9% during the 4th quarter. Tidal Investments LLC now owns 41,747 shares of the financial services provider's stock worth $2,601,000 after purchasing an additional 2,707 shares during the period. Snowden Capital Advisors LLC grew its holdings in shares of Commerce Bancshares by 19.7% during the 4th quarter. Snowden Capital Advisors LLC now owns 6,853 shares of the financial services provider's stock worth $427,000 after purchasing an additional 1,128 shares during the period. Royal Bank of Canada grew its holdings in shares of Commerce Bancshares by 8.8% during the 4th quarter. Royal Bank of Canada now owns 451,111 shares of the financial services provider's stock worth $28,109,000 after purchasing an additional 36,523 shares during the period. Finally, Rafferty Asset Management LLC grew its holdings in shares of Commerce Bancshares by 9.3% during the 4th quarter. Rafferty Asset Management LLC now owns 129,563 shares of the financial services provider's stock worth $8,073,000 after purchasing an additional 11,038 shares during the period. Hedge funds and other institutional investors own 70.26% of the company's stock.

Commerce Bancshares Stock Down 0.4%

Shares of CBSH traded down $0.24 during trading on Friday, reaching $63.02. The company's stock had a trading volume of 928,930 shares, compared to its average volume of 592,465. The company has a fifty day moving average of $61.31 and a two-hundred day moving average of $64.15. Commerce Bancshares, Inc. has a twelve month low of $49.97 and a twelve month high of $72.75. The company has a market cap of $8.41 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 2.13 and a beta of 0.60.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its earnings results on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.05. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The company had revenue of $428.05 million for the quarter, compared to analyst estimates of $417.85 million. As a group, equities 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. Shareholders of record on Friday, June 6th will be given a $0.275 dividend. 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%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CBSH shares. Wall Street Zen cut Commerce Bancshares from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Morgan Stanley upgraded Commerce Bancshares from an "underweight" rating to an "equal weight" rating and decreased their price target for the stock from $66.00 to $58.00 in a report on Monday, April 7th. Keefe, Bruyette & Woods decreased their price target on Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating for the company in a report on Thursday, April 17th. Wells Fargo & Company decreased their price target on Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. Finally, Piper Sandler upped their price target on Commerce Bancshares from $65.00 to $66.00 and gave the stock a "neutral" rating in a report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, Commerce Bancshares presently has an average rating of "Hold" and a consensus price target of $63.20.

Insider Activity at Commerce Bancshares

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

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.