Commerce Bancshares, Inc. $CBSH Stake Lessened by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC lowered its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 20.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,239 shares of the financial services provider’s stock after selling 834 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Commerce Bancshares were worth $201,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Commerce Bancshares in the first quarter valued at $1,855,000. HighTower Advisors LLC lifted its holdings in shares of Commerce Bancshares by 39.5% in the first quarter. HighTower Advisors LLC now owns 19,259 shares of the financial services provider’s stock valued at $1,198,000 after purchasing an additional 5,453 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Commerce Bancshares by 67.6% in the first quarter. Alliancebernstein L.P. now owns 271,115 shares of the financial services provider’s stock valued at $16,871,000 after purchasing an additional 109,375 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Commerce Bancshares by 64.9% in the first quarter. GAMMA Investing LLC now owns 1,878 shares of the financial services provider’s stock valued at $117,000 after purchasing an additional 739 shares in the last quarter. Finally, Novem Group lifted its holdings in shares of Commerce Bancshares by 35.3% in the first quarter. Novem Group now owns 16,663 shares of the financial services provider’s stock valued at $1,037,000 after purchasing an additional 4,344 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Price Performance

Commerce Bancshares stock opened at $56.63 on Monday. The company has a market capitalization of $7.56 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 6.98 and a beta of 0.59. Commerce Bancshares, Inc. has a one year low of $52.69 and a one year high of $72.75. The company’s fifty day moving average price is $60.41 and its two-hundred day moving average price is $61.45.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Wednesday, July 16th. The financial services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.02 by $0.12. The firm had revenue of $445.76 million for the quarter, compared to the consensus estimate of $434.11 million. Commerce Bancshares had a net margin of 26.37% and a return on equity of 16.01%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.02 earnings per share. As a group, sell-side analysts anticipate 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 was paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, September 5th. Commerce Bancshares’s dividend payout ratio is presently 26.19%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CBSH shares. Piper Sandler increased their price objective on Commerce Bancshares from $66.50 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Commerce Bancshares in a report on Wednesday, October 8th. Zacks Research lowered Commerce Bancshares from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 27th. TD Cowen started coverage on Commerce Bancshares in a report on Thursday, September 25th. They set a “hold” rating and a $63.00 price objective for the company. Finally, Hovde Group started coverage on Commerce Bancshares in a report on Monday, October 6th. They set an “outperform” rating and a $70.00 price objective for the company. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $68.43.

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.