UBS Group AG Grows Stock Holdings in Commerce Bancshares, Inc. $CBSH

UBS Group AG raised its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,212,291 shares of the financial services provider’s stock after buying an additional 18,219 shares during the quarter. UBS Group AG owned about 0.92% of Commerce Bancshares worth $63,451,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Danske Bank A S purchased a new stake in shares of Commerce Bancshares during the third quarter valued at about $25,000. Daytona Street Capital LLC purchased a new position in shares of Commerce Bancshares in the 4th quarter valued at approximately $25,000. Geneos Wealth Management Inc. raised its position in shares of Commerce Bancshares by 85.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 216 shares during the last quarter. Quent Capital LLC purchased a new position in shares of Commerce Bancshares in the 3rd quarter valued at approximately $31,000. Finally, Rothschild Investment LLC raised its position in shares of Commerce Bancshares by 3,820.0% in the 3rd quarter. Rothschild Investment LLC now owns 588 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 573 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $58.50 price objective (up from $56.00) on shares of Commerce Bancshares in a research report on Thursday, April 23rd. TD Cowen reaffirmed a “hold” rating and issued a $54.00 price objective (up from $53.00) on shares of Commerce Bancshares in a research report on Thursday, April 23rd. Keefe, Bruyette & Woods increased their price objective on shares of Commerce Bancshares from $54.00 to $56.00 and gave the company a “market perform” rating in a research report on Thursday, April 23rd. Wells Fargo & Company decreased their price objective on shares of Commerce Bancshares from $60.00 to $53.00 and set an “equal weight” rating for the company in a research report on Monday, March 30th. Finally, Zacks Research raised shares of Commerce Bancshares from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. One equities research analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $59.16.

Insider Activity at Commerce Bancshares

In other Commerce Bancshares news, SVP Kim L. Jakovich sold 949 shares of the stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $51.45, for a total transaction of $48,826.05. Following the sale, the senior vice president directly owned 12,741 shares of the company’s stock, valued at approximately $655,524.45. This trade represents a 6.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Margaret M. Rowe sold 861 shares of the stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $51.69, for a total value of $44,505.09. Following the sale, the senior vice president directly owned 5,742 shares in the company, valued at $296,803.98. This represents a 13.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 27,385 shares of company stock worth $1,475,109 in the last three months. Company insiders own 1.80% of the company’s stock.

Commerce Bancshares Trading Down 0.6%

CBSH opened at $51.74 on Tuesday. Commerce Bancshares, Inc. has a 12-month low of $46.99 and a 12-month high of $63.19. The firm has a market capitalization of $7.60 billion, a PE ratio of 12.41, a P/E/G ratio of 3.72 and a beta of 0.61. The firm has a 50 day moving average of $50.19 and a two-hundred day moving average of $51.66.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.02. Commerce Bancshares had a net margin of 26.37% and a return on equity of 14.78%. The company had revenue of $475.69 million during the quarter, compared to analyst estimates of $481.94 million. During the same period last year, the firm posted $0.98 EPS. Commerce Bancshares’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, analysts predict that Commerce Bancshares, Inc. will post 4.1 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, June 5th. Commerce Bancshares’s dividend payout ratio (DPR) is currently 26.38%.

About Commerce Bancshares

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.