Universal Beteiligungs und Servicegesellschaft mbH Invests $3.03 Million in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired 48,741 shares of Commerce Bancshares, valued at approximately $3,033,000, marking a new investment in the financial services provider.
• Institutional investors currently hold 70.26% of Commerce Bancshares' stock, indicating strong institutional interest in the company.
• Commerce Bancshares announced a quarterly dividend of $0.275 per share, set to be paid on September 23rd, representing an annual yield of 1.79%.

Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 48,741 shares of the financial services provider's stock, valued at approximately $3,033,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank acquired a new position in Commerce Bancshares in the fourth quarter valued at approximately $86,327,000. Aristotle Capital Management LLC raised its holdings in shares of Commerce Bancshares by 4.3% in the fourth quarter. Aristotle Capital Management LLC now owns 8,566,476 shares of the financial services provider's stock valued at $533,777,000 after purchasing an additional 351,406 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Commerce Bancshares by 31.8% in the fourth quarter. Northern Trust Corp now owns 1,286,483 shares of the financial services provider's stock valued at $80,161,000 after purchasing an additional 310,443 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Commerce Bancshares by 11.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,272,118 shares of the financial services provider's stock valued at $141,584,000 after purchasing an additional 227,052 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Commerce Bancshares by 12.9% in the 4th quarter. JPMorgan Chase & Co. now owns 1,594,670 shares of the financial services provider's stock valued at $99,364,000 after purchasing an additional 182,423 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CBSH shares. Keefe, Bruyette & Woods dropped their target price on shares of Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating on the stock in a research note on Thursday, April 17th. 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 note on Thursday, July 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 note on Tuesday, June 24th. Wells Fargo & Company raised 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. Finally, Morgan Stanley boosted their target price 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. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $68.20.

Commerce Bancshares Stock Down 2.1%

Shares of NASDAQ:CBSH traded down $1.28 during midday trading on Friday, hitting $59.92. 648,967 shares of the stock traded hands, compared to its average volume of 851,937. The stock has a market capitalization of $8.00 billion, a PE ratio of 14.27, a P/E/G ratio of 2.82 and a beta of 0.61. The business's 50 day moving average is $62.83 and its two-hundred day moving average is $62.85. Commerce Bancshares, Inc. has a one year low of $52.69 and a one year high of $72.75.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $434.11 million. Commerce Bancshares had a net margin of 26.37% and a return on equity of 16.01%. The company's quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.02 earnings per share. As a group, sell-side analysts forecast that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

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

Commerce Bancshares 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.