UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Buys 30,915 Shares of Commerce Bancshares, Inc. $CBSH

Key Points

• UBS AM increased its stake in Commerce Bancshares by 6.8%, owning a total of 487,478 shares valued at approximately $30.3 million.
• Commerce Bancshares reported quarterly earnings of $1.14 per share, exceeding analysts' expectations and demonstrating a 7.6% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.275 per share, reflecting an annualized dividend yield of 1.9%, with the payout ratio at 26.19%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 6.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 487,478 shares of the financial services provider's stock after purchasing an additional 30,915 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.37% of Commerce Bancshares worth $30,336,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CBSH. Smartleaf Asset Management LLC raised its holdings in Commerce Bancshares by 191.0% during the first quarter. Smartleaf Asset Management LLC now owns 451 shares of the financial services provider's stock worth $28,000 after purchasing an additional 296 shares in the last quarter. IMA Advisory Services Inc. acquired a new stake in Commerce Bancshares in the 1st quarter valued at about $29,000. Allworth Financial LP lifted its holdings in Commerce Bancshares by 55.0% in the 1st quarter. Allworth Financial LP now owns 651 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 231 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Commerce Bancshares in the 1st quarter worth approximately $59,000. Finally, GAMMA Investing LLC grew its position in Commerce Bancshares by 64.9% in 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 during the last quarter. Institutional investors own 70.26% of the company's stock.

Commerce Bancshares Stock Down 1.7%

Shares of Commerce Bancshares stock traded down $1.02 on Friday, hitting $59.23. The stock had a trading volume of 2,672,894 shares, compared to its average volume of 928,480. The business's 50 day moving average is $61.56 and its two-hundred day moving average is $61.71. The stock has a market cap of $7.90 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 2.76 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 announced its 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. The firm had revenue of $445.76 million for the quarter, compared to analyst estimates of $434.11 million. Commerce Bancshares had a net margin of 26.37% and a return on equity of 16.01%. The business's revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.02 EPS. As a group, equities analysts predict that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

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 $0.275 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.10 annualized dividend and a yield of 1.9%. Commerce Bancshares's dividend payout ratio is presently 26.19%.

Analyst Upgrades and Downgrades

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