Commerce Bancshares, Inc. $CBSH Shares Bought by HighTower Advisors LLC

HighTower Advisors LLC lifted its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 39.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,259 shares of the financial services provider’s stock after purchasing an additional 5,453 shares during the period. HighTower Advisors LLC’s holdings in Commerce Bancshares were worth $1,198,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Louisiana State Employees Retirement System lifted its position in shares of Commerce Bancshares by 0.5% during the first quarter. Louisiana State Employees Retirement System now owns 34,200 shares of the financial services provider’s stock worth $2,128,000 after purchasing an additional 175 shares during the last quarter. State of Michigan Retirement System lifted its position in shares of Commerce Bancshares by 0.7% during the first quarter. State of Michigan Retirement System now owns 29,174 shares of the financial services provider’s stock worth $1,815,000 after purchasing an additional 200 shares during the last quarter. Allworth Financial LP lifted its position in shares of Commerce Bancshares by 55.0% during the first quarter. Allworth Financial LP now owns 651 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 231 shares during the last quarter. Missouri Trust & Investment Co lifted its position in shares of Commerce Bancshares by 5.8% during the first quarter. Missouri Trust & Investment Co now owns 4,708 shares of the financial services provider’s stock worth $293,000 after purchasing an additional 259 shares during the last quarter. Finally, Smith Shellnut Wilson LLC ADV lifted its position in shares of Commerce Bancshares by 5.0% during the fourth quarter. Smith Shellnut Wilson LLC ADV now owns 6,254 shares of the financial services provider’s stock worth $390,000 after purchasing an additional 295 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Bank of America increased their price target on shares of Commerce Bancshares from $69.00 to $71.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 24th. Wells Fargo & Company raised their target price on shares of Commerce Bancshares from $62.00 to $69.00 and gave the stock an “equal weight” rating in a report on Monday, July 21st. Piper Sandler raised their target price on shares of Commerce Bancshares from $66.50 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Wall Street Zen cut shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Finally, Morgan Stanley raised their target price on shares of Commerce Bancshares from $58.00 to $61.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 17th. Six equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $68.20.

Commerce Bancshares Stock Up 0.8%

Shares of NASDAQ CBSH opened at $62.68 on Wednesday. The firm’s 50-day moving average price is $62.44 and its two-hundred day moving average price is $62.26. Commerce Bancshares, Inc. has a 52-week low of $52.69 and a 52-week high of $72.75. The stock has a market capitalization of $8.36 billion, a P/E ratio of 14.92, a P/E/G ratio of 2.84 and a beta of 0.61.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.02 by $0.12. Commerce Bancshares had a net margin of 26.37% and a return on equity of 16.01%. The company had revenue of $445.76 million for the quarter, compared to analyst estimates of $434.11 million. During the same quarter last year, the business earned $1.02 earnings per share. Commerce Bancshares’s revenue was up 7.6% compared to the same quarter last year. As a group, equities research analysts expect that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be paid a $0.275 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.10 annualized dividend and a dividend yield of 1.8%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 26.19%.

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.