Commonwealth Equity Services LLC Purchases 1,253 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Commonwealth Equity Services LLC boosted its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH – Get Rating) by 5.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,649 shares of the financial services provider’s stock after acquiring an additional 1,253 shares during the period. Commonwealth Equity Services LLC’s holdings in Commerce Bancshares were worth $1,541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. State Street Corp raised its holdings in Commerce Bancshares by 8.9% in the first quarter. State Street Corp now owns 6,656,709 shares of the financial services provider’s stock worth $476,554,000 after purchasing an additional 544,292 shares in the last quarter. Mutual Advisors LLC acquired a new stake in Commerce Bancshares during the fourth quarter worth about $26,709,000. Eaton Vance Management boosted its holdings in Commerce Bancshares by 15.0% during the first quarter. Eaton Vance Management now owns 1,385,610 shares of the financial services provider’s stock worth $99,195,000 after buying an additional 181,148 shares in the last quarter. ProShare Advisors LLC increased its holdings in Commerce Bancshares by 29.3% in the 4th quarter. ProShare Advisors LLC now owns 519,104 shares of the financial services provider’s stock worth $35,335,000 after acquiring an additional 117,559 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Commerce Bancshares by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 11,332,270 shares of the financial services provider’s stock worth $749,743,000 after acquiring an additional 117,162 shares in the last quarter. 64.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Morgan Stanley lowered Commerce Bancshares from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $50.00 to $48.00 in a report on Tuesday. StockNews.com assumed coverage on shares of Commerce Bancshares in a research note on Thursday. They issued a “sell” rating for the company. Keefe, Bruyette & Woods reduced their price objective on Commerce Bancshares from $72.00 to $61.00 and set a “market perform” rating on the stock in a research note on Thursday, April 6th. Finally, Wells Fargo & Company lowered their target price on shares of Commerce Bancshares from $65.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 5th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat, Commerce Bancshares presently has an average rating of “Hold” and an average price target of $64.17.

Commerce Bancshares Trading Down 1.0 %

NASDAQ:CBSH opened at $49.65 on Friday. The company has a market capitalization of $6.19 billion, a PE ratio of 12.81 and a beta of 0.74. The stock’s 50 day moving average price is $55.26 and its 200 day moving average price is $63.69. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.56. Commerce Bancshares, Inc. has a 52-week low of $48.01 and a 52-week high of $72.60.

Commerce Bancshares (NASDAQ:CBSH – Get Rating) last announced its earnings results on Tuesday, April 18th. The financial services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.03. The company had revenue of $389.20 million for the quarter, compared to the consensus estimate of $389.46 million. Commerce Bancshares had a return on equity of 19.18% and a net margin of 29.71%. The company’s revenue was up 14.3% on a year-over-year basis. During the same period last year, the business posted $0.92 EPS. On average, research analysts anticipate that Commerce Bancshares, Inc. will post 3.69 EPS for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 20th. Stockholders of record on Monday, June 5th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Friday, June 2nd. Commerce Bancshares’s dividend payout ratio (DPR) is 27.87%.

Commerce Bancshares Company Profile

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Commerce Bancshares, Inc operates as a bank holding company for Commerce Bank. It provides general banking services, such as retail, corporate, investment, trust, and asset management products and services to individuals and businesses. The firm operates through the following business segments: Consumer, Commercial and Wealth.