Integrated Wealth Concepts LLC Has $1.59 Million Stock Holdings in Commerce Bancshares, Inc. $CBSH

Integrated Wealth Concepts LLC raised its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 48.2% in the 2nd quarter, Holdings Channel.com reports. The fund owned 27,560 shares of the financial services provider’s stock after buying an additional 8,958 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Commerce Bancshares were worth $1,592,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Keating Financial Advisory Services Inc. acquired a new stake in shares of Commerce Bancshares during the 2nd quarter worth $29,000. Root Financial Partners LLC raised its stake in Commerce Bancshares by 104.9% in the first quarter. Root Financial Partners LLC now owns 623 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 319 shares in the last quarter. Rothschild Investment LLC lifted its position in Commerce Bancshares by 75.3% during the fourth quarter. Rothschild Investment LLC now owns 1,031 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 443 shares during the period. Continuum Advisory LLC bought a new stake in Commerce Bancshares during the second quarter worth about $64,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in Commerce Bancshares during the second quarter worth about $93,000. 70.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CBSH shares. Wall Street Zen raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, July 28th. Morgan Stanley raised shares of Commerce Bancshares from a “positive” rating to an “overweight” rating and upped their price target for the stock from $65.00 to $76.00 in a report on Tuesday, September 8th. Piper Sandler reiterated a “neutral” rating and set a $66.00 price target (up from $59.00) on shares of Commerce Bancshares in a research report on Friday, July 17th. Stephens set a $64.00 price objective on shares of Commerce Bancshares and gave the company an “equal weight” rating in a research note on Friday, July 17th. Finally, TD Cowen restated a “hold” rating and set a $63.00 price objective (up from $62.00) on shares of Commerce Bancshares in a research report on Friday, July 17th. Three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Commerce Bancshares has a consensus rating of “Hold” and an average price target of $64.86.

Commerce Bancshares Price Performance

CBSH stock opened at $58.51 on Wednesday. The company has a 50 day simple moving average of $58.78 and a 200 day simple moving average of $54.37. The stock has a market cap of $8.39 billion, a price-to-earnings ratio of 14.17, a P/E/G ratio of 2.09 and a beta of 0.58. Commerce Bancshares, Inc. has a 1 year low of $46.99 and a 1 year high of $60.92. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.82 and a quick ratio of 0.82.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.10 EPS for the quarter, beating the consensus estimate of $1.04 by $0.06. Commerce Bancshares had a net margin of 26.07% and a return on equity of 14.31%. The business had revenue of $498.91 million during the quarter, compared to the consensus estimate of $492.22 million. During the same quarter in the prior year, the firm earned $1.14 EPS. Research analysts anticipate that Commerce Bancshares, Inc. will post 4.25 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Friday, September 4th will be issued a dividend of $0.275 per share. The ex-dividend date is Friday, September 4th. This represents a $1.10 annualized dividend and a dividend yield of 1.9%. Commerce Bancshares’s dividend payout ratio is 26.63%.

Insider Buying and Selling

In related news, CEO John W. Kemper sold 5,830 shares of the business’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $60.58, for a total transaction of $353,181.40. Following the sale, the chief executive officer owned 206,528 shares in the company, valued at $12,511,466.24. The trade was a 2.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Charles G. Kim sold 19,771 shares of the company’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $59.18, for a total value of $1,170,047.78. Following the completion of the transaction, the chief financial officer directly owned 119,410 shares of the company’s stock, valued at approximately $7,066,683.80. The trade was a 14.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 32,950 shares of company stock worth $1,963,777 in the last ninety days. Insiders own 1.80% of the company’s stock.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc is a financial services holding company headquartered in Kansas City, Missouri. Through its principal subsidiary, Commerce Bank, the company provides banking and financial services to individuals, businesses, institutions and government entities.

Commerce Bank offers deposit accounts, consumer and commercial lending, treasury and payment services, wealth management, trust services, investment banking and brokerage services. Its commercial banking activities include financing, cash-management solutions and other services designed for businesses and institutional clients.

Founded in 1865, Commerce Bancshares primarily serves customers through a regional network centered in Missouri and extending into Kansas, Illinois, Oklahoma and Colorado.