Commerce Bancshares, Inc. $CBSH Stock Position Raised by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. raised its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 45.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,879 shares of the financial services provider’s stock after purchasing an additional 586 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Commerce Bancshares were worth $117,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Louisiana State Employees Retirement System raised its stake in shares of Commerce Bancshares by 0.5% during the 1st quarter. Louisiana State Employees Retirement System now owns 34,200 shares of the financial services provider’s stock worth $2,128,000 after purchasing an additional 175 shares in the last quarter. State of Michigan Retirement System raised its stake in shares of Commerce Bancshares by 0.7% during the 1st quarter. State of Michigan Retirement System now owns 29,174 shares of the financial services provider’s stock worth $1,815,000 after purchasing an additional 200 shares in the last quarter. Allworth Financial LP raised its stake in shares of Commerce Bancshares by 55.0% during the 1st quarter. Allworth Financial LP now owns 651 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 231 shares in the last quarter. Missouri Trust & Investment Co raised its stake in shares of Commerce Bancshares by 5.8% during the 1st quarter. Missouri Trust & Investment Co now owns 4,708 shares of the financial services provider’s stock worth $293,000 after purchasing an additional 259 shares in the last quarter. Finally, Smith Shellnut Wilson LLC ADV raised its stake in shares of Commerce Bancshares by 5.0% during the 4th quarter. Smith Shellnut Wilson LLC ADV now owns 6,254 shares of the financial services provider’s stock worth $390,000 after purchasing an additional 295 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CBSH. Bank of America raised their price target on Commerce Bancshares from $69.00 to $71.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 24th. Morgan Stanley increased their price objective on Commerce Bancshares from $58.00 to $61.00 and gave the company an “equal weight” rating in a report on Tuesday, June 17th. Wall Street Zen lowered Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Wells Fargo & Company increased their price objective on Commerce Bancshares from $62.00 to $69.00 and gave the company an “equal weight” rating in a report on Monday, July 21st. Finally, Piper Sandler increased their price objective on Commerce Bancshares from $66.50 to $70.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Seven analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $68.20.

Commerce Bancshares Stock Performance

Shares of NASDAQ CBSH opened at $60.58 on Friday. The firm has a market cap of $8.08 billion, a price-to-earnings ratio of 14.42, a P/E/G ratio of 2.82 and a beta of 0.61. The business’s 50-day simple moving average is $62.53 and its 200-day simple moving average is $62.04. Commerce Bancshares, Inc. has a 52 week low of $52.69 and a 52 week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Wednesday, July 16th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%.The company’s revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.02 EPS. As a group, equities research analysts forecast that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.10 dividend on an annualized basis and a yield of 1.8%. Commerce Bancshares’s dividend payout ratio (DPR) is 26.19%.

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.