Commerce Bancshares, Inc. $CBSH Stock Holdings Lifted by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 4.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,611,608 shares of the financial services provider’s stock after buying an additional 73,965 shares during the period. JPMorgan Chase & Co. owned about 1.22% of Commerce Bancshares worth $96,310,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of CBSH. Profund Advisors LLC lifted its holdings in Commerce Bancshares by 4.4% in the third quarter. Profund Advisors LLC now owns 4,682 shares of the financial services provider’s stock worth $280,000 after acquiring an additional 197 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Commerce Bancshares by 0.8% during the third quarter. Oregon Public Employees Retirement Fund now owns 25,004 shares of the financial services provider’s stock valued at $1,494,000 after purchasing an additional 200 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in shares of Commerce Bancshares by 2.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 8,265 shares of the financial services provider’s stock worth $494,000 after purchasing an additional 215 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Commerce Bancshares by 85.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 216 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Commerce Bancshares by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 39,600 shares of the financial services provider’s stock worth $2,366,000 after purchasing an additional 229 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, SVP Derrick Brooks sold 1,044 shares of the company’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $54.40, for a total value of $56,793.60. Following the transaction, the senior vice president owned 14,585 shares of the company’s stock, valued at approximately $793,424. This represents a 6.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy S. Dunn acquired 2,500 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were bought at an average price of $47.71 per share, with a total value of $119,275.00. Following the transaction, the director directly owned 5,403 shares in the company, valued at approximately $257,777.13. The trade was a 86.12% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders sold 29,477 shares of company stock valued at $1,586,655. Corporate insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Morgan Stanley cut their target price on Commerce Bancshares from $67.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Monday, March 2nd. Piper Sandler set a $62.00 price objective on Commerce Bancshares and gave the stock a “neutral” rating in a report on Monday, January 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Commerce Bancshares in a research report on Monday, December 29th. Zacks Research raised Commerce Bancshares from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Finally, TD Cowen cut their price objective on shares of Commerce Bancshares from $61.00 to $55.00 and set a “hold” rating on the stock in a research note on Wednesday, January 7th. One investment analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $61.51.

Commerce Bancshares Stock Performance

Shares of NASDAQ CBSH opened at $47.82 on Wednesday. Commerce Bancshares, Inc. has a 1 year low of $47.28 and a 1 year high of $63.19. The firm has a market cap of $7.02 billion, a P/E ratio of 11.41, a PEG ratio of 2.40 and a beta of 0.61. The stock has a fifty day moving average price of $52.66 and a two-hundred day moving average price of $53.19.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. Commerce Bancshares had a return on equity of 15.34% and a net margin of 26.51%.The company had revenue of $449.36 million for the quarter, compared to the consensus estimate of $442.47 million. During the same quarter in the previous year, the business earned $1.01 EPS. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, research analysts predict that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Friday, March 6th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, March 6th. Commerce Bancshares’s payout ratio is presently 26.25%.

Commerce Bancshares Company 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.