Advisor Resource Council Makes New Investment in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Advisor Resource Council bought a new position in Commerce Bancshares, Inc. (NASDAQ:CBSH) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,206 shares of the financial services provider’s stock, valued at approximately $316,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Commerce Bancshares by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 13,225,491 shares of the financial services provider’s stock worth $824,080,000 after purchasing an additional 642,401 shares during the last quarter. Aristotle Capital Management LLC grew its stake in shares of Commerce Bancshares by 4.3% in the 4th quarter. Aristotle Capital Management LLC now owns 8,566,476 shares of the financial services provider’s stock worth $533,777,000 after purchasing an additional 351,406 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Commerce Bancshares by 25.5% in the 4th quarter. American Century Companies Inc. now owns 3,675,031 shares of the financial services provider’s stock worth $228,991,000 after purchasing an additional 745,661 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Commerce Bancshares by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 2,484,463 shares of the financial services provider’s stock worth $155,756,000 after purchasing an additional 87,723 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Commerce Bancshares by 11.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,272,118 shares of the financial services provider’s stock worth $141,584,000 after purchasing an additional 227,052 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Piper Sandler lifted their price objective on shares of Commerce Bancshares from $65.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, April 17th. Wells Fargo & Company reduced their target price on Commerce Bancshares from $70.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, April 9th. Keefe, Bruyette & Woods reduced their target price on Commerce Bancshares from $74.00 to $70.00 and set a “market perform” rating for the company in a report on Thursday, April 17th. Wall Street Zen downgraded Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Finally, Morgan Stanley lifted their price objective 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. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $63.80.

Commerce Bancshares Trading Up 1.0%

NASDAQ:CBSH opened at $61.36 on Tuesday. The stock’s 50-day moving average is $62.29 and its two-hundred day moving average is $62.98. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market cap of $8.19 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 4.02 and a beta of 0.60. Commerce Bancshares, Inc. has a fifty-two week low of $50.90 and a fifty-two week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Wednesday, April 16th. The financial services provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. The firm had revenue of $428.05 million for the quarter, compared to the consensus estimate of $417.85 million. Commerce Bancshares had a return on equity of 16.23% and a net margin of 25.95%. As a group, equities research analysts forecast that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.275 per share. The ex-dividend date is Friday, June 6th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.79%. Commerce Bancshares’s dividend payout ratio is currently 26.63%.

Insider Activity

In other Commerce Bancshares news, Director June Mcallister Fowler sold 1,618 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $60.72, for a total transaction of $98,244.96. Following the completion of the sale, the director now owns 3,175 shares of the company’s stock, valued at $192,786. This represents a 33.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.10% of the stock is owned by insiders.

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.