Commerce Bancshares, Inc. $CBSH Stake Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 2.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 999,394 shares of the financial services provider’s stock after acquiring an additional 26,526 shares during the period. Bank of New York Mellon Corp owned 0.68% of Commerce Bancshares worth $49,170,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Apriem Advisors increased its position in Commerce Bancshares by 5.0% in the 4th quarter. Apriem Advisors now owns 4,018 shares of the financial services provider’s stock valued at $210,000 after acquiring an additional 191 shares during the period. Heartland Bank & Trust Co boosted its position in Commerce Bancshares by 4.4% during the 4th quarter. Heartland Bank & Trust Co now owns 4,595 shares of the financial services provider’s stock worth $240,000 after acquiring an additional 192 shares during the period. Outlook Wealth Advisors LLC grew its stake in shares of Commerce Bancshares by 3.7% in the fourth quarter. Outlook Wealth Advisors LLC now owns 5,934 shares of the financial services provider’s stock worth $311,000 after purchasing an additional 214 shares in the last quarter. Elser Financial Planning Inc increased its holdings in shares of Commerce Bancshares by 5.0% during the fourth quarter. Elser Financial Planning Inc now owns 4,531 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 215 shares during the period. Finally, Centerpoint Advisory Group raised its stake in shares of Commerce Bancshares by 5.0% during the fourth quarter. Centerpoint Advisory Group now owns 4,534 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 215 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CBSH shares. Weiss Ratings upgraded shares of Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. Stephens set a $64.00 target price on Commerce Bancshares and gave the stock an “equal weight” rating in a research report on Friday, July 17th. TD Cowen reaffirmed a “hold” rating and set a $63.00 price target (up from $62.00) on shares of Commerce Bancshares in a research note on Friday, July 17th. Piper Sandler reiterated a “neutral” rating and set a $66.00 price target (up from $59.00) on shares of Commerce Bancshares in a research report on Friday, July 17th. Finally, Hovde Group cut their price objective on Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, April 22nd. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $62.43.

Commerce Bancshares Stock Performance

Commerce Bancshares stock opened at $59.09 on Friday. Commerce Bancshares, Inc. has a fifty-two week low of $46.99 and a fifty-two week high of $60.76. The firm’s 50 day simple moving average is $55.62 and its 200-day simple moving average is $53.03. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market cap of $8.61 billion, a P/E ratio of 14.31, a price-to-earnings-growth ratio of 2.10 and a beta of 0.58.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.06. The firm had revenue of $498.91 million during the quarter, compared to analyst estimates of $492.22 million. Commerce Bancshares had a net margin of 26.07% and a return on equity of 14.31%. During the same quarter last year, the business posted $1.14 EPS. As a group, equities research analysts predict that Commerce Bancshares, Inc. will post 4.22 EPS for the current year.

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.