CW Advisors LLC Acquires 3,361 Shares of Commerce Bancshares, Inc. $CBSH

CW Advisors LLC grew its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 37.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,271 shares of the financial services provider’s stock after purchasing an additional 3,361 shares during the period. CW Advisors LLC’s holdings in Commerce Bancshares were worth $764,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Commerce Bancshares in the 1st quarter worth $1,855,000. Integrated Wealth Concepts LLC purchased a new position in shares of Commerce Bancshares in the 4th quarter worth $842,000. GAMMA Investing LLC boosted its stake in shares of Commerce Bancshares by 64.9% in the 1st quarter. GAMMA Investing LLC now owns 1,878 shares of the financial services provider’s stock worth $117,000 after buying an additional 739 shares during the last quarter. Novem Group boosted its stake in shares of Commerce Bancshares by 35.3% in the 1st quarter. Novem Group now owns 16,663 shares of the financial services provider’s stock worth $1,037,000 after buying an additional 4,344 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Commerce Bancshares by 2.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,321,855 shares of the financial services provider’s stock worth $144,479,000 after buying an additional 49,737 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CBSH shares. 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. Piper Sandler raised their price target on Commerce Bancshares from $66.50 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Wall Street Zen downgraded Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. Wells Fargo & Company raised their price target on Commerce Bancshares from $62.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Monday, July 21st. Finally, Morgan Stanley lifted their target price on Commerce Bancshares from $58.00 to $61.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 17th. Six investment analysts have rated the stock with a Hold rating, According to MarketBeat, Commerce Bancshares presently has a consensus rating of “Hold” and a consensus target price of $68.20.

Commerce Bancshares Stock Up 0.8%

Shares of Commerce Bancshares stock opened at $62.68 on Wednesday. The stock’s 50-day simple moving average is $62.44 and its 200-day simple moving average is $62.26. Commerce Bancshares, Inc. has a 52 week low of $52.69 and a 52 week high of $72.75. The company has a market capitalization of $8.36 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 2.84 and a beta of 0.61.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.02 by $0.12. Commerce Bancshares had a return on equity of 16.01% and a net margin of 26.37%.The business had revenue of $445.76 million for the quarter, compared to the consensus estimate of $434.11 million. During the same period in the previous year, the business earned $1.02 earnings per share. The business’s revenue was up 7.6% on a year-over-year basis. On average, equities analysts expect that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, September 5th. Commerce Bancshares’s payout ratio is presently 26.19%.

Commerce Bancshares 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.