Vest Financial LLC Has $3.71 Million Stock Position in Commerce Bancshares, Inc. $CBSH

Vest Financial LLC boosted its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 86.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,154 shares of the financial services provider’s stock after buying an additional 28,858 shares during the period. Vest Financial LLC’s holdings in Commerce Bancshares were worth $3,714,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. HB Wealth Management LLC increased its position in Commerce Bancshares by 4.5% during the second quarter. HB Wealth Management LLC now owns 4,056 shares of the financial services provider’s stock worth $252,000 after acquiring an additional 174 shares during the period. Public Employees Retirement System of Ohio grew its position in Commerce Bancshares by 0.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 39,371 shares of the financial services provider’s stock worth $2,448,000 after purchasing an additional 190 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Commerce Bancshares by 0.8% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 25,004 shares of the financial services provider’s stock worth $1,494,000 after purchasing an additional 200 shares during the period. Nicholson Wealth Management Group LLC increased its holdings in shares of Commerce Bancshares by 1.0% during the 2nd quarter. Nicholson Wealth Management Group LLC now owns 20,926 shares of the financial services provider’s stock worth $1,301,000 after purchasing an additional 214 shares during the period. Finally, Geneos Wealth Management Inc. raised its position in shares of Commerce Bancshares by 85.4% during the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock valued at $29,000 after buying an additional 216 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Commerce Bancshares Price Performance

CBSH stock opened at $54.43 on Friday. The business has a fifty day moving average price of $52.64 and a 200 day moving average price of $55.21. Commerce Bancshares, Inc. has a fifty-two week low of $48.69 and a fifty-two week high of $65.59. The stock has a market capitalization of $7.21 billion, a price-to-earnings ratio of 12.99, a P/E/G ratio of 3.32 and a beta of 0.62.

Commerce Bancshares (NASDAQ:CBSH) last issued 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 net margin of 26.48% and a return on equity of 15.73%. The firm had revenue of $449.36 million for the quarter, compared to analyst estimates of $442.47 million. During the same quarter in the prior year, the firm earned $1.01 EPS. The company’s revenue was up 6.5% 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 fiscal year.

Commerce Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Tuesday, December 2nd were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Tuesday, December 2nd. This represents a $1.10 annualized dividend and a yield of 2.0%. Commerce Bancshares’s dividend payout ratio is currently 26.25%.

Analysts Set New Price Targets

CBSH has been the topic of a number of recent research reports. Wells Fargo & Company decreased their target price on Commerce Bancshares from $61.90 to $57.14 and set an “equal weight” rating on the stock in a research report on Tuesday, October 21st. Piper Sandler reiterated a “neutral” rating and issued a $64.00 price objective (up previously from $60.00) on shares of Commerce Bancshares in a research report on Friday, January 9th. Zacks Research lowered Commerce Bancshares from a “hold” rating to a “strong sell” rating in a report on Thursday, January 8th. Hovde Group initiated coverage on Commerce Bancshares in a research note on Monday, October 6th. They issued an “outperform” rating and a $66.67 target price for the company. Finally, Keefe, Bruyette & Woods reduced their target price on Commerce Bancshares from $61.90 to $57.14 and set a “market perform” rating for the company in a research report on Friday, October 17th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Commerce Bancshares presently has a consensus rating of “Reduce” and a consensus price target of $62.03.

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.