California Public Employees Retirement System Has $12.03 Million Stock Position in Commerce Bancshares, Inc. $CBSH

California Public Employees Retirement System boosted its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 6.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 244,402 shares of the financial services provider’s stock after buying an additional 13,959 shares during the period. California Public Employees Retirement System owned approximately 0.17% of Commerce Bancshares worth $12,025,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Commerce Bancshares by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 14,690,039 shares of the financial services provider’s stock valued at $768,877,000 after acquiring an additional 1,098,142 shares during the last quarter. State Street Corp boosted its holdings in shares of Commerce Bancshares by 8.4% during the 4th quarter. State Street Corp now owns 7,318,898 shares of the financial services provider’s stock valued at $383,071,000 after acquiring an additional 566,853 shares in the last quarter. Commerce Bank grew its position in Commerce Bancshares by 7.0% during the 4th quarter. Commerce Bank now owns 5,660,823 shares of the financial services provider’s stock worth $296,287,000 after acquiring an additional 369,636 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Commerce Bancshares by 15.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,049,064 shares of the financial services provider’s stock worth $159,597,000 after purchasing an additional 406,063 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Commerce Bancshares by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 2,780,678 shares of the financial services provider’s stock worth $147,097,000 after buying an additional 174,863 shares during the period. 70.26% of the stock is owned by institutional investors.

Commerce Bancshares Stock Up 0.8%

Shares of NASDAQ CBSH opened at $59.09 on Friday. The firm has a market capitalization of $8.61 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 2.10 and a beta of 0.58. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.01. The firm has a fifty day simple moving average of $55.62 and a two-hundred day simple moving average of $53.03. Commerce Bancshares, Inc. has a 12 month low of $46.99 and a 12 month high of $60.76.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.06. Commerce Bancshares had a return on equity of 14.31% and a net margin of 26.07%.The business had revenue of $498.91 million during the quarter, compared to the consensus estimate of $492.22 million. During the same quarter in the prior year, the company earned $1.14 earnings per share. Equities analysts expect that Commerce Bancshares, Inc. will post 4.22 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CBSH. Hovde Group lowered their price objective on Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, April 22nd. Wells Fargo & Company raised their price objective on Commerce Bancshares from $53.00 to $57.00 and gave the company an “equal weight” rating in a research note on Monday, July 6th. Wall Street Zen downgraded shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Monday, July 20th. Morgan Stanley restated a “positive” rating and set a $65.00 price target (up from $61.00) on shares of Commerce Bancshares in a report on Monday, June 29th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $66.00 target price (up from $59.00) on shares of Commerce Bancshares in a research note on Friday, July 17th. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $62.43.

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.