Cambridge Investment Research Advisors Inc. Purchases 2,216 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Posted by on May 14th, 2023

Cambridge Investment Research Advisors Inc. increased its position in Commerce Bancshares, Inc. (NASDAQ:CBSH – Get Rating) by 5.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,648 shares of the financial services provider’s stock after purchasing an additional 2,216 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Commerce Bancshares were worth $3,039,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. California Public Employees Retirement System lifted its position in Commerce Bancshares by 9.9% in the fourth quarter. California Public Employees Retirement System now owns 287,350 shares of the financial services provider’s stock worth $19,560,000 after purchasing an additional 25,848 shares during the period. Swiss National Bank raised its stake in Commerce Bancshares by 6.1% during the fourth quarter. Swiss National Bank now owns 273,446 shares of the financial services provider’s stock worth $18,613,000 after acquiring an additional 15,783 shares in the last quarter. Paragon Capital Management LLC raised its stake in Commerce Bancshares by 5.1% during the fourth quarter. Paragon Capital Management LLC now owns 41,804 shares of the financial services provider’s stock worth $2,846,000 after acquiring an additional 2,046 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Commerce Bancshares by 11.8% during the fourth quarter. Russell Investments Group Ltd. now owns 64,012 shares of the financial services provider’s stock worth $4,357,000 after acquiring an additional 6,748 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in Commerce Bancshares by 4.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 94,097 shares of the financial services provider’s stock worth $6,405,000 after acquiring an additional 4,258 shares in the last quarter. 64.12% of the stock is owned by institutional investors.

Commerce Bancshares Price Performance

Commerce Bancshares stock opened at $48.75 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.56. Commerce Bancshares, Inc. has a 12-month low of $48.01 and a 12-month high of $72.60. The stock has a market cap of $6.08 billion, a price-to-earnings ratio of 12.56 and a beta of 0.74. The business’s 50-day simple moving average is $56.39 and its 200 day simple moving average is $64.21.

Commerce Bancshares (NASDAQ:CBSH – Get Rating) last issued its earnings results on Tuesday, April 18th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.03. Commerce Bancshares had a return on equity of 19.18% and a net margin of 29.71%. The firm had revenue of $389.20 million for the quarter, compared to analysts’ expectations of $389.46 million. During the same quarter last year, the business earned $0.92 earnings per share. The company’s revenue was up 14.3% compared to the same quarter last year. As a group, research analysts anticipate that Commerce Bancshares, Inc. will post 3.69 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, June 20th. Stockholders of record on Monday, June 5th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Friday, June 2nd. Commerce Bancshares’s dividend payout ratio (DPR) is presently 27.84%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Morgan Stanley dropped their price objective on Commerce Bancshares from $70.00 to $50.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 5th. Keefe, Bruyette & Woods lowered their target price on Commerce Bancshares from $72.00 to $61.00 and set a “market perform” rating for the company in a research note on Thursday, April 6th. StockNews.com lowered Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday, March 30th. Finally, Wells Fargo & Company lowered their target price on Commerce Bancshares from $65.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 5th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat, Commerce Bancshares currently has an average rating of “Hold” and a consensus target price of $64.50.

About Commerce Bancshares

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Commerce Bancshares, Inc operates as a bank holding company for Commerce Bank. It provides general banking services, such as retail, corporate, investment, trust, and asset management products and services to individuals and businesses. The firm operates through the following business segments: Consumer, Commercial and Wealth.

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

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