ProShare Advisors LLC Increases Stock Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

ProShare Advisors LLC raised its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 13.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 574,303 shares of the financial services provider’s stock after buying an additional 68,224 shares during the period. ProShare Advisors LLC’s holdings in Commerce Bancshares were worth $35,785,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Kapitalo Investimentos Ltda purchased a new stake in Commerce Bancshares during the 4th quarter valued at $26,000. CoreFirst Bank & Trust purchased a new stake in Commerce Bancshares during the 4th quarter valued at $33,000. Marshall Investment Management LLC purchased a new stake in Commerce Bancshares during the 4th quarter valued at $35,000. V Square Quantitative Management LLC boosted its position in Commerce Bancshares by 84.0% during the 4th quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider’s stock valued at $49,000 after buying an additional 361 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its position in Commerce Bancshares by 46.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 839 shares of the financial services provider’s stock valued at $52,000 after buying an additional 268 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

CBSH has been the subject of several research analyst reports. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley raised shares of Commerce Bancshares from an “underweight” rating to an “equal weight” rating and dropped their target price for the stock from $66.00 to $58.00 in a research report on Monday, April 7th. Piper Sandler raised their target price on shares of Commerce Bancshares from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, April 17th. Keefe, Bruyette & Woods dropped their target price on shares of Commerce Bancshares from $74.00 to $70.00 and set a “market perform” rating for the company in a research report on Thursday, April 17th. Finally, Wells Fargo & Company dropped their target price on shares of Commerce Bancshares from $70.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $63.20.

Commerce Bancshares Price Performance

Shares of Commerce Bancshares stock opened at $65.55 on Friday. The company has a 50-day moving average of $60.76 and a 200 day moving average of $64.39. The firm has a market cap of $8.75 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 2.13 and a beta of 0.60. Commerce Bancshares, Inc. has a 1 year low of $49.97 and a 1 year high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.05. The company had revenue of $428.05 million during the quarter, compared to analyst estimates of $417.85 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. On average, equities analysts anticipate that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Friday, June 6th will be paid a $0.275 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.10 annualized dividend and a dividend yield of 1.68%. Commerce Bancshares’s payout ratio is 26.63%.

Insider Buying and Selling

In other Commerce Bancshares news, Director June Mcallister Fowler sold 1,618 shares of the firm’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $60.72, for a total transaction of $98,244.96. Following the completion of the sale, the director now directly owns 3,175 shares in the company, valued at approximately $192,786. This trade represents a 33.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.10% of the stock is owned by company insiders.

About Commerce Bancshares

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.