ICW Investment Advisors LLC Has $629,000 Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

ICW Investment Advisors LLC raised its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,089 shares of the financial services provider’s stock after buying an additional 287 shares during the period. ICW Investment Advisors LLC’s holdings in Commerce Bancshares were worth $629,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CBSH. Marshall Investment Management LLC bought a new position in shares of Commerce Bancshares in the fourth quarter worth about $35,000. True Wealth Design LLC bought a new position in shares of Commerce Bancshares in the third quarter worth about $47,000. V Square Quantitative Management LLC raised its stake in shares of Commerce Bancshares by 84.0% in the fourth quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 361 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Commerce Bancshares by 19.6% in the fourth quarter. GAMMA Investing LLC now owns 1,139 shares of the financial services provider’s stock worth $71,000 after acquiring an additional 187 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Commerce Bancshares by 35.3% in the fourth quarter. Blue Trust Inc. now owns 1,683 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 439 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Commerce Bancshares

In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 1,719 shares of Commerce Bancshares stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $67.30, for a total value of $115,688.70. Following the completion of the sale, the senior vice president now owns 18,688 shares in the company, valued at $1,257,702.40. The trade was a 8.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Charles G. Kim sold 13,493 shares of Commerce Bancshares stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $67.76, for a total transaction of $914,285.68. Following the completion of the sale, the chief financial officer now owns 86,246 shares of the company’s stock, valued at $5,844,028.96. This trade represents a 13.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 78,434 shares of company stock worth $5,248,272. 3.20% of the stock is owned by insiders.

Commerce Bancshares Stock Down 0.3 %

Shares of CBSH stock opened at $61.24 on Monday. The company has a market capitalization of $8.21 billion, a price-to-earnings ratio of 15.27, a P/E/G ratio of 2.13 and a beta of 0.78. Commerce Bancshares, Inc. has a 12-month low of $48.49 and a 12-month high of $72.75. The firm has a fifty day moving average of $64.42 and a 200-day moving average of $64.43.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. The business had revenue of $422.10 million during the quarter, compared to the consensus estimate of $417.48 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.84 earnings per share. On average, equities analysts expect that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s dividend payout ratio (DPR) is currently 27.43%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CBSH shares. Piper Sandler boosted their target price on shares of Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Raymond James downgraded shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Wells Fargo & Company boosted their price target on shares of Commerce Bancshares from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. Morgan Stanley dropped their price target on shares of Commerce Bancshares from $72.00 to $66.00 and set an “underweight” rating for the company in a research note on Thursday, March 13th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $68.17.

Commerce Bancshares Company Profile

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.