Farther Finance Advisors LLC Increases Stake in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Farther Finance Advisors LLC grew its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 632.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 6,627 shares of the financial services provider’s stock after buying an additional 5,722 shares during the quarter. Farther Finance Advisors LLC’s holdings in Commerce Bancshares were worth $412,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kapitalo Investimentos Ltda purchased a new position in shares of Commerce Bancshares in the 4th quarter valued at about $26,000. CoreFirst Bank & Trust purchased a new position in shares of Commerce Bancshares in the 4th quarter valued at about $33,000. Marshall Investment Management LLC purchased a new position in shares of Commerce Bancshares in the 4th quarter valued at about $35,000. V Square Quantitative Management LLC boosted its stake in shares of Commerce Bancshares by 84.0% in the 4th quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider’s stock valued at $49,000 after buying an additional 361 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its stake in shares of Commerce Bancshares by 46.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 839 shares of the financial services provider’s stock valued at $52,000 after buying an additional 268 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In other Commerce Bancshares news, Director June Mcallister Fowler sold 1,618 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $60.72, for a total transaction of $98,244.96. Following the sale, the director now directly owns 3,175 shares in the company, valued at approximately $192,786. The trade was a 33.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wall Street Zen cut Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. Wells Fargo & Company dropped their price objective on Commerce Bancshares from $70.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 9th. Keefe, Bruyette & Woods dropped their price objective on Commerce Bancshares from $74.00 to $70.00 and set a “market perform” rating on the stock in a report on Thursday, April 17th. Morgan Stanley raised Commerce Bancshares from an “underweight” rating to an “equal weight” rating and cut their price target for the stock from $66.00 to $58.00 in a research report on Monday, April 7th. Finally, Piper Sandler raised their target price on shares of Commerce Bancshares from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, Commerce Bancshares has an average rating of “Hold” and a consensus target price of $63.20.

Commerce Bancshares Price Performance

NASDAQ:CBSH opened at $60.82 on Tuesday. The firm’s fifty day moving average price is $62.01 and its 200 day moving average price is $63.30. Commerce Bancshares, Inc. has a 1-year low of $50.06 and a 1-year high of $72.75. The firm has a market cap of $8.12 billion, a price-to-earnings ratio of 15.17, a price-to-earnings-growth ratio of 2.13 and a beta of 0.60.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The firm had revenue of $428.05 million for the quarter, compared to analyst estimates of $417.85 million. As a group, analysts expect that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 24th. Shareholders of record on Friday, June 6th will be given a dividend of $0.275 per share. The ex-dividend date is Friday, June 6th. This represents a $1.10 annualized dividend and a dividend yield of 1.81%. Commerce Bancshares’s payout ratio is currently 26.63%.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc operates as the bank holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses in the United States. It operates through three segments: Consumer, Commercial, and Wealth.