Stratos Wealth Partners LTD. lessened its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH – Free Report) by 4.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 4,749 shares of the financial services provider’s stock after selling 225 shares during the period. Stratos Wealth Partners LTD.’s holdings in Commerce Bancshares were worth $277,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Accurate Wealth Management LLC acquired a new stake in Commerce Bancshares in the 4th quarter valued at approximately $28,000. Belpointe Asset Management LLC acquired a new position in shares of Commerce Bancshares in the fourth quarter worth $30,000. Raleigh Capital Management Inc. grew its stake in shares of Commerce Bancshares by 205.6% in the fourth quarter. Raleigh Capital Management Inc. now owns 440 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 296 shares in the last quarter. Allworth Financial LP grew its stake in shares of Commerce Bancshares by 621.3% in the first quarter. Allworth Financial LP now owns 440 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 379 shares in the last quarter. Finally, Asset Dedication LLC grew its stake in shares of Commerce Bancshares by 530.0% in the fourth quarter. Asset Dedication LLC now owns 441 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 371 shares in the last quarter. Institutional investors and hedge funds own 67.99% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on CBSH shares. TheStreet downgraded shares of Commerce Bancshares from a “b-” rating to a “c+” rating in a research note on Wednesday, May 24th. Keefe, Bruyette & Woods dropped their price target on shares of 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 assumed coverage on shares of Commerce Bancshares in a research note on Thursday, May 18th. They issued a “sell” rating for the company. Wells Fargo & Company decreased their price objective on shares of Commerce Bancshares from $65.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 5th. Finally, Morgan Stanley cut shares of Commerce Bancshares from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $50.00 to $48.00 in a research report on Tuesday, May 16th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat.com, Commerce Bancshares presently has an average rating of “Hold” and a consensus target price of $62.80.
Commerce Bancshares Price Performance
Commerce Bancshares (NASDAQ:CBSH – Get Free Report) last announced its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.08. Commerce Bancshares had a net margin of 29.71% and a return on equity of 19.18%. The firm had revenue of $397.10 million during the quarter, compared to analysts’ expectations of $391.15 million. During the same period in the previous year, the company earned $0.91 earnings per share. Commerce Bancshares’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Commerce Bancshares, Inc. will post 3.65 EPS for the current year.
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.
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