Fisher Asset Management LLC Acquires 24,318 Shares of Commerce Bancshares, Inc. $CBSH

Fisher Asset Management LLC raised its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 13.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 203,296 shares of the financial services provider’s stock after acquiring an additional 24,318 shares during the quarter. Fisher Asset Management LLC owned about 0.15% of Commerce Bancshares worth $12,639,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. LPL Financial LLC lifted its stake in shares of Commerce Bancshares by 41.7% in the 1st quarter. LPL Financial LLC now owns 108,513 shares of the financial services provider’s stock valued at $6,753,000 after purchasing an additional 31,916 shares during the last quarter. Natixis Advisors LLC raised its holdings in Commerce Bancshares by 18.5% during the first quarter. Natixis Advisors LLC now owns 22,410 shares of the financial services provider’s stock valued at $1,395,000 after buying an additional 3,492 shares in the last quarter. Bank of Nova Scotia acquired a new stake in shares of Commerce Bancshares in the first quarter worth about $1,282,000. New Age Alpha Advisors LLC boosted its stake in shares of Commerce Bancshares by 75.0% during the 1st quarter. New Age Alpha Advisors LLC now owns 4,941 shares of the financial services provider’s stock worth $307,000 after acquiring an additional 2,118 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Commerce Bancshares by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 13,493,741 shares of the financial services provider’s stock valued at $839,716,000 after acquiring an additional 268,250 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on CBSH. Keefe, Bruyette & Woods reduced their target price on Commerce Bancshares from $61.90 to $57.14 and set a “market perform” rating for the company in a report on Friday, October 17th. Cowen restated a “hold” rating on shares of Commerce Bancshares in a research note on Tuesday, October 21st. TD Cowen assumed coverage on shares of Commerce Bancshares in a report on Thursday, September 25th. They set a “hold” rating and a $60.00 price objective for the company. Zacks Research downgraded shares of Commerce Bancshares from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 27th. Finally, Wells Fargo & Company cut their target price on shares of Commerce Bancshares from $61.90 to $57.14 and set an “equal weight” rating for the company in a research report on Tuesday, October 21st. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Commerce Bancshares presently has a consensus rating of “Hold” and an average price target of $62.18.

Commerce Bancshares Price Performance

NASDAQ:CBSH opened at $52.36 on Thursday. Commerce Bancshares, Inc. has a one year low of $48.69 and a one year high of $66.53. The company has a fifty day moving average price of $52.39 and a 200 day moving average price of $56.77. The stock has a market cap of $6.93 billion, a P/E ratio of 12.50, a PEG ratio of 4.92 and a beta of 0.62.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.03). The company had revenue of $448.85 million for the quarter, compared to the consensus estimate of $447.04 million. Commerce Bancshares had a return on equity of 15.73% and a net margin of 26.48%.The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.02 EPS. As a group, equities research analysts anticipate that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Tuesday, December 2nd will be given a $0.275 dividend. The ex-dividend date is Tuesday, December 2nd. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.1%. Commerce Bancshares’s dividend payout ratio (DPR) is currently 26.25%.

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.