IFG Advisory LLC Acquires 4,802 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

IFG Advisory LLC raised its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 100,758 shares of the financial services provider’s stock after acquiring an additional 4,802 shares during the quarter. IFG Advisory LLC owned approximately 0.08% of Commerce Bancshares worth $5,382,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. BKM Wealth Management LLC acquired a new stake in shares of Commerce Bancshares in the 4th quarter valued at approximately $29,000. Creative Financial Designs Inc. ADV acquired a new stake in shares of Commerce Bancshares in the 4th quarter valued at approximately $35,000. PCA Investment Advisory Services Inc. acquired a new stake in shares of Commerce Bancshares in the 2nd quarter valued at approximately $38,000. Quantbot Technologies LP acquired a new stake in shares of Commerce Bancshares in the 2nd quarter valued at approximately $42,000. Finally, Adirondack Trust Co. acquired a new stake in shares of Commerce Bancshares in the 3rd quarter valued at approximately $44,000. 70.26% of the stock is owned by institutional investors.

Insider Activity at Commerce Bancshares

In other Commerce Bancshares news, EVP Robert S. Holmes sold 5,000 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $52.66, for a total transaction of $263,300.00. Following the completion of the transaction, the executive vice president now owns 50,293 shares of the company’s stock, valued at $2,648,429.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Commerce Bancshares news, EVP Robert S. Holmes sold 5,000 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $52.66, for a total transaction of $263,300.00. Following the completion of the transaction, the executive vice president now owns 50,293 shares of the company’s stock, valued at $2,648,429.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Patricia R. Kellerhals sold 730 shares of the business’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $54.87, for a total value of $40,055.10. Following the transaction, the senior vice president now directly owns 25,502 shares of the company’s stock, valued at approximately $1,399,294.74. The disclosure for this sale can be found here. Insiders sold a total of 14,321 shares of company stock valued at $752,387 over the last quarter. 3.10% of the stock is owned by corporate insiders.

Commerce Bancshares Stock Performance

Shares of Commerce Bancshares stock opened at $53.33 on Thursday. The firm has a 50-day moving average of $52.09 and a 200-day moving average of $50.41. The stock has a market cap of $6.93 billion, a PE ratio of 14.69 and a beta of 0.78. Commerce Bancshares, Inc. has a 52-week low of $40.91 and a 52-week high of $57.00.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, January 18th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.02. The company 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%. Commerce Bancshares’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.99 earnings per share. Equities research analysts predict that Commerce Bancshares, Inc. will post 3.25 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Thursday, March 7th were paid a $0.27 dividend. 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 dividend payout ratio (DPR) is presently 29.75%.

Analyst Upgrades and Downgrades

A number of research firms have commented on CBSH. Morgan Stanley lifted their price objective 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. Bank of America began coverage on shares of Commerce Bancshares in a research report on Thursday, January 11th. They set a “neutral” rating and a $55.00 price objective for the company. Finally, Keefe, Bruyette & Woods lifted their price objective 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 investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $53.17.

Commerce Bancshares 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.