Bank of New York Mellon Corp grew its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH – Get Rating) by 0.7% during the first quarter, Holdings Channel reports. The firm owned 1,262,108 shares of the financial services provider's stock after acquiring an additional 8,374 shares during the quarter. Bank of New York Mellon Corp's holdings in Commerce Bancshares were worth $90,354,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Advisor Partners LLC lifted its stake in shares of Commerce Bancshares by 4.1% in the 1st quarter. Advisor Partners LLC now owns 3,628 shares of the financial services provider's stock valued at $260,000 after purchasing an additional 144 shares during the period. First National Bank of Hutchinson increased its position in Commerce Bancshares by 5.0% in the 4th quarter. First National Bank of Hutchinson now owns 3,418 shares of the financial services provider's stock valued at $235,000 after buying an additional 162 shares in the last quarter. Paradigm Financial Advisors LLC increased its position in Commerce Bancshares by 4.9% in the 4th quarter. Paradigm Financial Advisors LLC now owns 3,439 shares of the financial services provider's stock valued at $236,000 after buying an additional 162 shares in the last quarter. Treasurer of the State of North Carolina increased its position in Commerce Bancshares by 0.4% in the 1st quarter. Treasurer of the State of North Carolina now owns 40,666 shares of the financial services provider's stock valued at $2,911,000 after buying an additional 170 shares in the last quarter. Finally, Signaturefd LLC increased its position in Commerce Bancshares by 36.0% in the 1st quarter. Signaturefd LLC now owns 672 shares of the financial services provider's stock valued at $48,000 after buying an additional 178 shares in the last quarter. 68.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CBSH has been the subject of a number of research analyst reports. StockNews.com raised Commerce Bancshares from a "sell" rating to a "hold" rating in a research report on Monday, July 18th. DA Davidson boosted their price objective on Commerce Bancshares to $71.00 in a report on Monday, July 25th. Finally, Jefferies Financial Group decreased their price objective on Commerce Bancshares from $75.00 to $71.00 in a report on Monday, July 11th.

Insider Activity

Commerce Bancshares Stock Down 0.4 %

Shares of NASDAQ CBSH opened at $69.17 on Wednesday. Commerce Bancshares, Inc. has a twelve month low of $61.81 and a twelve month high of $74.72. The stock's 50 day moving average price is $68.93 and its 200-day moving average price is $69.32. The company has a market capitalization of $8.29 billion, a PE ratio of 17.87 and a beta of 0.80.

Commerce Bancshares (NASDAQ:CBSH – Get Rating) last announced its quarterly earnings data on Thursday, July 21st. The financial services provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.01. Commerce Bancshares had a return on equity of 14.98% and a net margin of 32.88%. The business had revenue of $371.80 million during the quarter, compared to analyst estimates of $362.50 million. During the same period in the prior year, the company earned $1.38 earnings per share. Commerce Bancshares's revenue was up 7.1% compared to the same quarter last year. As a group, research analysts expect that Commerce Bancshares, Inc. will post 4.04 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Wednesday, September 7th will be paid a $0.265 dividend. The ex-dividend date is Tuesday, September 6th. This represents a $1.06 annualized dividend and a dividend yield of 1.53%. Commerce Bancshares's payout ratio is 27.39%.

Commerce Bancshares Profile

(Get Rating)

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.

Featured Articles

• Get a free copy of the StockNews.com research report on Commerce Bancshares (CBSH)
• How the Pandemic Forced F5 to Flex its Software Side
• Shock Absorbers: 3 Low Volatility Dividend Stocks for Bumpy Times
• The Retail Sector: Winners And Losers From Q2 Earnings
• Can Targa Continue Rallying To Meet Its Price Target?
• Is Unity Software Ready To Rally After Rejecting AppLovin Offer?

Want to see what other hedge funds are holding CBSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Commerce Bancshares, Inc. (NASDAQ:CBSH – Get Rating).

Receive News & Ratings for Commerce Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commerce Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.