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Vanguard Group Inc. Has $839.72 Million Stake in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Commerce Bancshares logo with Finance background

Key Points

  • Vanguard Group Inc. increased its stake in Commerce Bancshares by 2.0%, acquiring an additional 268,250 shares to hold a total of 13,493,741 shares, valued at approximately $839.72 million.
  • Wall Street analysts have revised target prices for Commerce Bancshares, with estimates ranging from $58.00 to $71.00, while the consensus rating remains at a "Hold" with an average price target of $68.20.
  • Commerce Bancshares recently declared a quarterly dividend of $0.275 per share, resulting in an annualized dividend of $1.10 and a yield of 1.8%.
  • Looking to export and analyze Commerce Bancshares data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Vanguard Group Inc. boosted its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,493,741 shares of the financial services provider's stock after acquiring an additional 268,250 shares during the period. Vanguard Group Inc. owned approximately 10.06% of Commerce Bancshares worth $839,716,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CBSH. Envestnet Asset Management Inc. lifted its holdings in Commerce Bancshares by 1.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 271,032 shares of the financial services provider's stock worth $16,888,000 after acquiring an additional 2,923 shares in the last quarter. Invesco Ltd. lifted its holdings in Commerce Bancshares by 75.6% during the fourth quarter. Invesco Ltd. now owns 359,482 shares of the financial services provider's stock worth $22,399,000 after acquiring an additional 154,751 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in Commerce Bancshares by 4.2% during the fourth quarter. Treasurer of the State of North Carolina now owns 54,234 shares of the financial services provider's stock worth $3,379,000 after acquiring an additional 2,177 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Commerce Bancshares by 61.3% in the fourth quarter. Sterling Capital Management LLC now owns 7,327 shares of the financial services provider's stock valued at $457,000 after purchasing an additional 2,785 shares in the last quarter. Finally, Townsquare Capital LLC lifted its holdings in shares of Commerce Bancshares by 3.4% in the fourth quarter. Townsquare Capital LLC now owns 11,749 shares of the financial services provider's stock valued at $732,000 after purchasing an additional 391 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Commerce Bancshares Price Performance

NASDAQ CBSH traded down $0.51 during trading on Friday, reaching $61.41. 244,387 shares of the company's stock were exchanged, compared to its average volume of 645,944. The business has a 50 day moving average price of $62.45 and a 200-day moving average price of $62.58. The stock has a market capitalization of $8.19 billion, a P/E ratio of 14.61, a PEG ratio of 2.83 and a beta of 0.61. Commerce Bancshares, Inc. has a fifty-two week low of $52.69 and a fifty-two week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $1.14 earnings per share 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 in the previous year, the business earned $1.02 earnings per share. The business's revenue was up 7.6% compared to the same quarter last year. On average, analysts forecast that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.10 annualized dividend and a dividend yield of 1.8%. Commerce Bancshares's dividend payout ratio is presently 26.19%.

Analysts Set New Price Targets

CBSH has been the topic of a number of research reports. Wells Fargo & Company boosted 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. Bank of America upped their target price on Commerce Bancshares from $69.00 to $71.00 and gave the stock a "neutral" rating in a report on Tuesday, June 24th. Keefe, Bruyette & Woods dropped their target price on Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Wall Street Zen lowered Commerce Bancshares from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Finally, Morgan Stanley upped their target price on Commerce Bancshares from $58.00 to $61.00 and gave the stock an "equal weight" rating in a report on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $68.20.

Check Out Our Latest Stock Report on Commerce Bancshares

Commerce Bancshares Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Commerce Bancshares (NASDAQ:CBSH)

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