Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Purchased by IFG Advisory LLC

IFG Advisory LLC increased its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 100,758 shares of the financial services provider’s stock after buying an additional 4,802 shares during the period. IFG Advisory LLC’s holdings in Commerce Bancshares were worth $5,382,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. First Republic Investment Management Inc. raised its stake in Commerce Bancshares by 0.3% during the second quarter. First Republic Investment Management Inc. now owns 53,245 shares of the financial services provider’s stock worth $3,496,000 after acquiring an additional 138 shares during the period. Cetera Advisors LLC raised its stake in Commerce Bancshares by 3.6% during the fourth quarter. Cetera Advisors LLC now owns 5,099 shares of the financial services provider’s stock worth $347,000 after acquiring an additional 179 shares during the period. Treasurer of the State of North Carolina raised its stake in Commerce Bancshares by 0.5% during the second quarter. Treasurer of the State of North Carolina now owns 49,934 shares of the financial services provider’s stock worth $2,432,000 after acquiring an additional 230 shares during the period. Mercer Global Advisors Inc. ADV grew its position in Commerce Bancshares by 1.1% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 23,906 shares of the financial services provider’s stock worth $1,147,000 after purchasing an additional 250 shares during the last quarter. Finally, Sound Stewardship LLC grew its position in Commerce Bancshares by 5.0% in the 4th quarter. Sound Stewardship LLC now owns 5,403 shares of the financial services provider’s stock worth $289,000 after purchasing an additional 256 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling

In related news, SVP Patricia R. Kellerhals sold 730 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $54.87, for a total value of $40,055.10. Following the completion of the sale, the senior vice president now owns 25,502 shares in the company, valued at approximately $1,399,294.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Commerce Bancshares news, SVP David L. Roller sold 1,392 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $50.62, for a total value of $70,463.04. Following the completion of the sale, the senior vice president now owns 30,949 shares in the company, valued at approximately $1,566,638.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Patricia R. Kellerhals sold 730 shares of the stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $54.87, for a total transaction of $40,055.10. Following the transaction, the senior vice president now owns 25,502 shares in the company, valued at approximately $1,399,294.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,321 shares of company stock worth $752,387. Corporate insiders own 3.10% of the company’s stock.

Commerce Bancshares Price Performance

Commerce Bancshares stock opened at $53.33 on Thursday. The firm has a 50 day simple moving average of $52.09 and a 200-day simple moving average of $50.41. The stock has a market capitalization of $6.93 billion, a PE ratio of 14.69 and a beta of 0.78. Commerce Bancshares, Inc. has a 12-month low of $40.91 and a 12-month high of $57.00.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Thursday, January 18th. The financial services provider reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.02. The firm had revenue of $393.30 million during the quarter, compared to analysts’ expectations of $386.34 million. Commerce Bancshares had a net margin of 24.41% and a return on equity of 17.46%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the firm posted $0.99 earnings per share. On average, analysts forecast that Commerce Bancshares, Inc. will post 3.25 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Thursday, March 7th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date was Wednesday, March 6th. Commerce Bancshares’s payout ratio is 29.75%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Bank of America assumed coverage on shares of Commerce Bancshares in a research report on Thursday, January 11th. They issued a “neutral” rating and a $55.00 target price for the company. Morgan Stanley upped their target price on shares of Commerce Bancshares from $46.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Commerce Bancshares from $54.00 to $56.00 and gave the stock a “market perform” rating in a research report on Friday, January 19th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, Commerce Bancshares presently has an average rating of “Hold” and an average target price of $53.17.

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.