Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 13.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,835 shares of the financial services provider’s stock after buying an additional 3,107 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Commerce Bancshares were worth $1,433,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CBSH. BKM Wealth Management LLC purchased a new stake in shares of Commerce Bancshares in the fourth quarter worth approximately $29,000. Creative Financial Designs Inc. ADV purchased a new stake in shares of Commerce Bancshares in the fourth quarter worth approximately $35,000. Adirondack Trust Co. purchased a new stake in shares of Commerce Bancshares in the third quarter worth approximately $44,000. Exchange Traded Concepts LLC purchased a new position in Commerce Bancshares during the 4th quarter worth $55,000. Finally, Peoples Bank KS purchased a new position in Commerce Bancshares during the 3rd quarter worth $98,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Commerce Bancshares Trading Down 0.9 %

Shares of NASDAQ CBSH opened at $55.44 on Friday. The stock has a market capitalization of $7.20 billion, a PE ratio of 15.46 and a beta of 0.79. The stock’s fifty day simple moving average is $52.41 and its two-hundred day simple moving average is $51.21. Commerce Bancshares, Inc. has a 12-month low of $40.91 and a 12-month high of $56.75.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. The firm had revenue of $397.80 million during the quarter, compared to analysts’ expectations of $389.49 million. Commerce Bancshares had a return on equity of 16.78% and a net margin of 23.33%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.90 EPS. On average, equities analysts predict that Commerce Bancshares, Inc. will post 3.43 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Wednesday, June 5th will be given a $0.27 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.95%. Commerce Bancshares’s payout ratio is 30.12%.

Analyst Ratings Changes

Several research analysts have commented on CBSH shares. Morgan Stanley raised their price objective on Commerce Bancshares from $46.00 to $55.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Raymond James upgraded Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 price objective on the stock in a report on Wednesday, April 17th. Piper Sandler raised their price objective on Commerce Bancshares from $53.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, April 17th. Finally, Keefe, Bruyette & Woods raised their price objective on Commerce Bancshares from $56.00 to $58.00 and gave the stock a “market perform” rating in a report on Wednesday, April 17th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $55.00.

Insider Transactions at Commerce Bancshares

In other news, EVP Robert S. Holmes sold 5,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $52.66, for a total value of $263,300.00. Following the completion of the sale, the executive vice president now owns 50,293 shares of the company’s stock, valued at approximately $2,648,429.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Commerce Bancshares news, Director David W. Kemper sold 2,870 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $50.81, for a total transaction of $145,824.70. Following the sale, the director now owns 1,181,994 shares in the company, valued at approximately $60,057,115.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Robert S. Holmes sold 5,000 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $52.66, for a total value of $263,300.00. Following the sale, the executive vice president now owns 50,293 shares in the company, valued at approximately $2,648,429.38. The disclosure for this sale can be found here. Insiders sold 11,661 shares of company stock valued at $606,528 in the last quarter. 3.20% of the stock is currently owned by corporate insiders.

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.