Commonwealth Equity Services LLC Has $1.54 Million Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

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

Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James & Associates grew its stake in shares of Commerce Bancshares by 8.6% during the first quarter. Raymond James & Associates now owns 58,372 shares of the financial services provider’s stock worth $4,179,000 after purchasing an additional 4,611 shares during the period. HighTower Advisors LLC grew its stake in shares of Commerce Bancshares by 14.7% during the 1st quarter. HighTower Advisors LLC now owns 9,253 shares of the financial services provider’s stock worth $659,000 after acquiring an additional 1,188 shares in the last quarter. Natixis Advisors L.P. grew its stake in shares of Commerce Bancshares by 27.2% during the 1st quarter. Natixis Advisors L.P. now owns 25,339 shares of the financial services provider’s stock worth $1,814,000 after acquiring an additional 5,417 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of Commerce Bancshares by 7.7% during the 1st quarter. Great West Life Assurance Co. Can now owns 59,984 shares of the financial services provider’s stock worth $4,414,000 after buying an additional 4,310 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Commerce Bancshares by 1.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,110,800 shares of the financial services provider’s stock worth $79,527,000 after purchasing an additional 12,655 shares in the last quarter. Institutional investors and hedge funds own 64.12% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on CBSH. Morgan Stanley downgraded Commerce Bancshares from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $50.00 to $48.00 in a research note on Tuesday. StockNews.com assumed coverage on shares of Commerce Bancshares in a report on Thursday. They set a “sell” rating for the company. Wells Fargo & Company lowered their price objective on Commerce Bancshares from $65.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 5th. Finally, Keefe, Bruyette & Woods cut their target price on shares of 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. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $64.17.

Commerce Bancshares Price Performance

Shares of NASDAQ CBSH opened at $49.65 on Friday. The stock has a market cap of $6.19 billion, a PE ratio of 12.81 and a beta of 0.74. Commerce Bancshares, Inc. has a fifty-two week low of $48.01 and a fifty-two week high of $72.60. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a fifty day moving average of $55.26 and a 200-day moving average of $63.69.

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

Commerce Bancshares Dividend Announcement

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

Commerce Bancshares Profile

(Get Rating)

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.