Louisiana State Employees Retirement System Invests $1.95 Million in Commerce Bancshares, Inc. $CBSH

Louisiana State Employees Retirement System purchased a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 39,700 shares of the financial services provider’s stock, valued at approximately $1,953,000.

Other institutional investors also recently modified their holdings of the company. Danske Bank A S bought a new position in Commerce Bancshares during the 3rd quarter valued at about $25,000. Geneos Wealth Management Inc. grew its stake in shares of Commerce Bancshares by 85.4% in the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 216 shares during the period. Daytona Street Capital LLC bought a new stake in shares of Commerce Bancshares in the fourth quarter worth approximately $25,000. Laurel Wealth Advisors LLC purchased a new position in shares of Commerce Bancshares during the fourth quarter valued at approximately $34,000. Finally, V Square Quantitative Management LLC purchased a new position in shares of Commerce Bancshares during the fourth quarter valued at approximately $40,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Commerce Bancshares Price Performance

Shares of Commerce Bancshares stock opened at $57.75 on Wednesday. The company’s fifty day simple moving average is $53.04 and its 200-day simple moving average is $52.32. The stock has a market capitalization of $8.42 billion, a PE ratio of 13.85, a P/E/G ratio of 3.93 and a beta of 0.60. Commerce Bancshares, Inc. has a 1-year low of $46.99 and a 1-year high of $63.19.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.94 by $0.02. Commerce Bancshares had a return on equity of 14.78% and a net margin of 26.37%.The firm had revenue of $475.69 million during the quarter, compared to analyst estimates of $481.94 million. During the same period in the prior year, the business posted $0.98 EPS. Commerce Bancshares’s revenue was up 11.1% on a year-over-year basis. As a group, research analysts anticipate that Commerce Bancshares, Inc. will post 4.14 EPS for the current year.

Commerce Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th were issued 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, June 5th. Commerce Bancshares’s payout ratio is currently 26.38%.

Wall Street Analyst Weigh In

CBSH has been the topic of several research reports. Wall Street Zen cut shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Hovde Group decreased their target price on shares of Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, April 22nd. Keefe, Bruyette & Woods increased their price target on Commerce Bancshares from $56.00 to $57.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. Morgan Stanley restated a “positive” rating and issued a $65.00 price target (up from $61.00) on shares of Commerce Bancshares in a research note on Monday. Finally, Piper Sandler lifted their price objective on Commerce Bancshares from $58.50 to $59.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $58.00.

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.