Commerce Bancshares, Inc. $CBSH Shares Bought by Boston Trust Walden Corp

Boston Trust Walden Corp raised its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 28.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,903,362 shares of the financial services provider’s stock after purchasing an additional 420,053 shares during the period. Commerce Bancshares accounts for 0.8% of Boston Trust Walden Corp’s investment portfolio, making the stock its 21st largest holding. Boston Trust Walden Corp owned approximately 1.43% of Commerce Bancshares worth $113,745,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC increased its holdings in Commerce Bancshares by 191.0% in the first quarter. Smartleaf Asset Management LLC now owns 451 shares of the financial services provider’s stock valued at $28,000 after buying an additional 296 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Commerce Bancshares by 85.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 216 shares in the last quarter. CoreFirst Bank & Trust purchased a new position in shares of Commerce Bancshares in the 2nd quarter valued at about $33,000. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Commerce Bancshares in the 2nd quarter valued at about $46,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Commerce Bancshares during the 2nd quarter worth about $59,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Commerce Bancshares Price Performance

Shares of NASDAQ:CBSH opened at $52.96 on Monday. Commerce Bancshares, Inc. has a 1-year low of $48.69 and a 1-year high of $65.59. The stock has a market cap of $7.01 billion, a P/E ratio of 12.64, a P/E/G ratio of 4.63 and a beta of 0.62. The firm has a fifty day moving average price of $51.59 and a 200 day moving average price of $55.87.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, October 16th. The financial services provider reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.03). Commerce Bancshares had a net margin of 26.48% and a return on equity of 15.73%. The business had revenue of $448.85 million during the quarter, compared to analysts’ expectations of $447.04 million. During the same period in the previous year, the company posted $1.02 earnings per share. Commerce Bancshares’s quarterly revenue was up 4.7% on a year-over-year basis. Sell-side analysts expect that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

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

Analyst Ratings Changes

Several brokerages have commented on CBSH. Wells Fargo & Company dropped their price target on shares of Commerce Bancshares from $61.90 to $57.14 and set an “equal weight” rating on the stock in a research note on Tuesday, October 21st. TD Cowen initiated coverage on shares of Commerce Bancshares in a research report on Thursday, September 25th. They issued a “hold” rating and a $60.00 target price on the stock. Hovde Group assumed coverage on shares of Commerce Bancshares in a research note on Monday, October 6th. They set an “outperform” rating and a $66.67 price target on the stock. Morgan Stanley upped their price objective on shares of Commerce Bancshares from $62.86 to $66.67 and gave the company an “underperform” rating in a research note on Monday, September 29th. Finally, Wall Street Zen lowered Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Commerce Bancshares presently has an average rating of “Hold” and an average target price of $62.18.

Commerce Bancshares Profile

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.