Arbejdsmarkedets Tillaegspension Purchases 76,450 Shares of Commerce Bancshares, Inc. $CBSH

Arbejdsmarkedets Tillaegspension grew its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 17.1% during the 1st quarter, HoldingsChannel reports. The firm owned 523,051 shares of the financial services provider’s stock after purchasing an additional 76,450 shares during the quarter. Arbejdsmarkedets Tillaegspension’s holdings in Commerce Bancshares were worth $25,734,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CBSH. Tudor Investment Corp ET AL raised its position in shares of Commerce Bancshares by 5,922.5% during the third quarter. Tudor Investment Corp ET AL now owns 501,859 shares of the financial services provider’s stock worth $29,991,000 after purchasing an additional 493,526 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Commerce Bancshares by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 14,690,039 shares of the financial services provider’s stock valued at $768,877,000 after purchasing an additional 1,098,142 shares in the last quarter. Verition Fund Management LLC grew its position in shares of Commerce Bancshares by 39.8% in the 4th quarter. Verition Fund Management LLC now owns 631,981 shares of the financial services provider’s stock valued at $33,078,000 after purchasing an additional 179,894 shares during the period. Mattern Capital Management LLC increased its stake in Commerce Bancshares by 14.4% during the 4th quarter. Mattern Capital Management LLC now owns 161,306 shares of the financial services provider’s stock worth $8,443,000 after purchasing an additional 20,277 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings 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.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CBSH. Wells Fargo & Company raised their price objective on shares of Commerce Bancshares from $53.00 to $57.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. Piper Sandler increased their target price on Commerce Bancshares from $58.50 to $59.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. Morgan Stanley reissued a “positive” rating and issued a $65.00 price target (up from $61.00) on shares of Commerce Bancshares in a research note on Monday, June 29th. Hovde Group cut their price target on Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, April 22nd. Finally, Wall Street Zen raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Sunday. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Commerce Bancshares currently has an average rating of “Hold” and an average target price of $58.67.

Commerce Bancshares Stock Performance

Shares of CBSH stock opened at $58.37 on Monday. The firm’s fifty day moving average price is $54.19 and its two-hundred day moving average price is $52.61. Commerce Bancshares, Inc. has a 1 year low of $46.99 and a 1 year high of $63.15. The firm has a market capitalization of $8.51 billion, a P/E ratio of 14.00, a PEG ratio of 2.99 and a beta of 0.58.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.02. The company had revenue of $475.69 million during the quarter, compared to analysts’ expectations of $481.94 million. Commerce Bancshares had a return on equity of 14.78% and a net margin of 26.37%.Commerce Bancshares’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.98 EPS. As a group, equities research analysts forecast that Commerce Bancshares, Inc. will post 4.15 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Friday, June 5th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.10 annualized dividend and a yield of 1.9%. Commerce Bancshares’s dividend payout ratio is 26.38%.

Commerce Bancshares 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.