XTX Topco Ltd Buys 9,293 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Key Points

• XTX Topco Ltd increased its holdings in Commerce Bancshares, Inc. by 200.1% during the first quarter, purchasing an additional 9,293 shares, bringing its total to 13,938 shares valued at $867,000.
• Commerce Bancshares reported $1.14 earnings per share for its latest quarter, surpassing analyst expectations, with revenue increasing by 7.6% year-over-year.
• The company declared a quarterly dividend of $0.275 per share, with a dividend yield of 1.8%, scheduled for payment on September 23rd.

XTX Topco Ltd raised its position in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 200.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,938 shares of the financial services provider's stock after acquiring an additional 9,293 shares during the quarter. XTX Topco Ltd's holdings in Commerce Bancshares were worth $867,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CBSH. Kapitalo Investimentos Ltda acquired a new stake in shares of Commerce Bancshares during the 4th quarter worth about $26,000. IMA Advisory Services Inc. acquired a new stake in shares of Commerce Bancshares during the 1st quarter worth about $29,000. Allworth Financial LP lifted its stake in shares of Commerce Bancshares by 55.0% during the 1st quarter. Allworth Financial LP now owns 651 shares of the financial services provider's stock worth $40,000 after buying an additional 231 shares during the last quarter. Transce3nd LLC acquired a new stake in shares of Commerce Bancshares during the 4th quarter worth about $68,000. Finally, Aster Capital Management DIFC Ltd lifted its stake in shares of Commerce Bancshares by 1,131.3% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,847 shares of the financial services provider's stock worth $115,000 after buying an additional 1,697 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Commerce Bancshares Trading Up 1.1%

CBSH stock traded up $0.63 during mid-day trading on Friday, hitting $60.49. The stock had a trading volume of 174,438 shares, compared to its average volume of 647,757. Commerce Bancshares, Inc. has a 52 week low of $52.69 and a 52 week high of $72.75. The firm has a market capitalization of $8.07 billion, a P/E ratio of 14.42, a P/E/G ratio of 2.78 and a beta of 0.61. The firm has a fifty day simple moving average of $62.62 and a 200 day simple moving average of $62.74.

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. Commerce Bancshares had a net margin of 26.37% and a return on equity of 16.01%. The firm had revenue of $445.76 million for the quarter, compared to analyst estimates of $434.11 million. During the same period last year, the firm earned $1.02 EPS. The business's quarterly revenue was up 7.6% compared to the same quarter last year. As a group, equities analysts expect that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CBSH shares. Keefe, Bruyette & Woods cut their target price on shares of Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating for the company in a research note on Thursday, April 17th. Bank of America raised their target price on shares of Commerce Bancshares from $69.00 to $71.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 24th. Morgan Stanley raised their price target on shares of Commerce Bancshares from $58.00 to $61.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 17th. Wall Street Zen lowered shares of Commerce Bancshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Finally, Piper Sandler raised their price target on shares of Commerce Bancshares from $66.50 to $70.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, Commerce Bancshares currently has an average rating of "Hold" and a consensus target price 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.