Aigen Investment Management LP Acquires New Position in Commerce Bancshares, Inc. $CBSH

Aigen Investment Management LP acquired a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,053 shares of the financial services provider’s stock, valued at approximately $526,000.

Other large investors have also bought and sold shares of the company. Danske Bank A S acquired a new position in Commerce Bancshares in the third quarter valued at approximately $25,000. Geneos Wealth Management Inc. lifted its holdings in Commerce Bancshares by 85.4% in the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock valued at $29,000 after buying an additional 216 shares during the period. Daytona Street Capital LLC acquired a new position in Commerce Bancshares in the fourth quarter valued at approximately $25,000. Rothschild Investment LLC lifted its holdings in Commerce Bancshares by 3,820.0% in the third quarter. Rothschild Investment LLC now owns 588 shares of the financial services provider’s stock valued at $35,000 after buying an additional 573 shares during the period. Finally, Laurel Wealth Advisors LLC acquired a new position in Commerce Bancshares in the fourth quarter valued at approximately $34,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CBSH. Hovde Group cut their price objective on shares of Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, April 22nd. Morgan Stanley cut their price objective on shares of Commerce Bancshares from $67.00 to $65.00 and set an “equal weight” rating on the stock in a report on Monday, March 2nd. Wall Street Zen lowered shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Saturday. Zacks Research upgraded shares of Commerce Bancshares from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Commerce Bancshares from $56.00 to $57.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $59.30.

Commerce Bancshares Stock Performance

Shares of CBSH opened at $54.72 on Tuesday. The stock has a 50 day simple moving average of $51.80 and a 200 day simple moving average of $51.99. Commerce Bancshares, Inc. has a 52-week low of $46.99 and a 52-week high of $63.19. The firm has a market capitalization of $7.98 billion, a PE ratio of 13.12, a P/E/G ratio of 3.79 and a beta of 0.60.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating 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 business had revenue of $475.69 million during the quarter, compared to analyst estimates of $481.94 million. During the same period in the previous year, the firm earned $0.98 EPS. Commerce Bancshares’s quarterly revenue was up 11.1% compared to the same quarter last year. Equities research analysts predict that Commerce Bancshares, Inc. will post 4.12 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The business 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 $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, June 5th. Commerce Bancshares’s payout ratio is currently 26.38%.

Commerce Bancshares Company Profile

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.