Signaturefd LLC Increases Position in Commerce Bancshares, Inc. $CBSH

Signaturefd LLC lifted its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 13.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,036 shares of the financial services provider’s stock after purchasing an additional 247 shares during the period. Signaturefd LLC’s holdings in Commerce Bancshares were worth $127,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Public Employees Retirement System of Ohio increased its stake in shares of Commerce Bancshares by 0.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 39,371 shares of the financial services provider’s stock valued at $2,448,000 after purchasing an additional 190 shares in the last quarter. GAMMA Investing LLC increased its stake in Commerce Bancshares by 15.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,177 shares of the financial services provider’s stock worth $135,000 after buying an additional 299 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. purchased a new stake in Commerce Bancshares during the 2nd quarter worth approximately $649,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in Commerce Bancshares by 14.7% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 43,755 shares of the financial services provider’s stock worth $2,720,000 after buying an additional 5,611 shares in the last quarter. Finally, Voya Investment Management LLC increased its stake in Commerce Bancshares by 11.0% during the 1st quarter. Voya Investment Management LLC now owns 198,901 shares of the financial services provider’s stock worth $12,378,000 after buying an additional 19,776 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Price Performance

NASDAQ:CBSH opened at $59.17 on Friday. The firm has a market capitalization of $7.90 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 2.69 and a beta of 0.59. The business’s fifty day moving average price is $60.68 and its 200 day moving average price is $61.59. Commerce Bancshares, Inc. has a 12 month low of $52.69 and a 12 month high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last posted its 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. The firm had revenue of $445.76 million for the quarter, compared to analyst estimates of $434.11 million. Commerce Bancshares had a return on equity of 16.01% and a net margin of 26.37%.Commerce Bancshares’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.02 earnings per share. As a group, equities analysts anticipate that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.10 annualized dividend and a dividend yield of 1.9%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 26.19%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CBSH shares. TD Cowen started coverage on Commerce Bancshares in a research note on Thursday, September 25th. They set a “hold” rating and a $63.00 price objective for the company. Zacks Research lowered Commerce Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 27th. Wells Fargo & Company cut their price objective on Commerce Bancshares from $69.00 to $65.00 and set an “equal weight” rating for the company in a research note on Monday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Commerce Bancshares in a research note on Saturday, September 27th. Finally, Piper Sandler boosted their target price on Commerce Bancshares from $66.50 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Eight analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $68.17.

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.