Diversified Trust Co Buys 16,628 Shares of Commerce Bancshares, Inc. $CBSH

Diversified Trust Co grew its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 99.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 33,406 shares of the financial services provider’s stock after acquiring an additional 16,628 shares during the period. Diversified Trust Co’s holdings in Commerce Bancshares were worth $1,644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of CBSH. Apriem Advisors boosted its holdings in shares of Commerce Bancshares by 5.0% during the 4th quarter. Apriem Advisors now owns 4,018 shares of the financial services provider’s stock worth $210,000 after buying an additional 191 shares during the period. Heartland Bank & Trust Co raised its holdings in Commerce Bancshares by 4.4% in the 4th quarter. Heartland Bank & Trust Co now owns 4,595 shares of the financial services provider’s stock valued at $240,000 after acquiring an additional 192 shares during the period. Outlook Wealth Advisors LLC raised its holdings in Commerce Bancshares by 3.7% in the 4th quarter. Outlook Wealth Advisors LLC now owns 5,934 shares of the financial services provider’s stock valued at $311,000 after acquiring an additional 214 shares during the period. Crossmark Global Holdings Inc. lifted its position in Commerce Bancshares by 2.7% during the third quarter. Crossmark Global Holdings Inc. now owns 8,265 shares of the financial services provider’s stock worth $494,000 after acquiring an additional 215 shares during the last quarter. Finally, Elser Financial Planning Inc lifted its position in Commerce Bancshares by 5.0% during the fourth quarter. Elser Financial Planning Inc now owns 4,531 shares of the financial services provider’s stock worth $237,000 after acquiring an additional 215 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Commerce Bancshares Price Performance

Shares of NASDAQ CBSH opened at $55.08 on Tuesday. The business has a fifty day moving average price of $52.25 and a two-hundred day moving average price of $52.12. The stock has a market capitalization of $8.03 billion, a PE ratio of 13.21, a P/E/G ratio of 3.72 and a beta of 0.60. Commerce Bancshares, Inc. has a fifty-two week low of $46.99 and a fifty-two week high of $63.19.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Tuesday, April 21st. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.02. Commerce Bancshares had a return on equity of 14.78% and a net margin of 26.37%.The company had revenue of $475.69 million for the quarter, compared to analyst estimates of $481.94 million. During the same period in the prior year, the firm posted $0.98 EPS. Commerce Bancshares’s quarterly revenue was up 11.1% on a year-over-year basis. On average, equities analysts expect that Commerce Bancshares, Inc. will post 4.12 EPS for the current year.

Commerce Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Friday, June 5th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.10 annualized dividend and a yield of 2.0%. Commerce Bancshares’s dividend payout ratio is currently 26.38%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CBSH. Weiss Ratings restated a “hold (c)” rating on shares of Commerce Bancshares in a report on Friday, March 27th. Keefe, Bruyette & Woods increased their target price on Commerce Bancshares from $56.00 to $57.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. Wall Street Zen cut Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. TD Cowen restated a “hold” rating and issued a $54.00 price target (up from $53.00) on shares of Commerce Bancshares in a research note on Thursday, April 23rd. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $58.50 price objective (up from $56.00) on shares of Commerce Bancshares in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Commerce Bancshares has an average rating of “Hold” and an average target price of $59.30.

About Commerce Bancshares

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.