Nicholson Wealth Management Group LLC Purchases 8,068 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Nicholson Wealth Management Group LLC raised its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 65.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,370 shares of the financial services provider's stock after buying an additional 8,068 shares during the period. Nicholson Wealth Management Group LLC's holdings in Commerce Bancshares were worth $1,269,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Los Angeles Capital Management LLC lifted its holdings in Commerce Bancshares by 7,407.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 362,900 shares of the financial services provider's stock valued at $21,556,000 after purchasing an additional 358,066 shares during the last quarter. Boston Trust Walden Corp lifted its stake in shares of Commerce Bancshares by 17.6% during the 4th quarter. Boston Trust Walden Corp now owns 1,468,854 shares of the financial services provider's stock worth $91,524,000 after buying an additional 219,826 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Commerce Bancshares by 7.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,396,740 shares of the financial services provider's stock worth $142,951,000 after buying an additional 163,782 shares during the period. NFJ Investment Group LLC grew its stake in Commerce Bancshares by 17.7% in the 3rd quarter. NFJ Investment Group LLC now owns 707,168 shares of the financial services provider's stock valued at $42,006,000 after buying an additional 106,316 shares during the last quarter. Finally, Zacks Investment Management bought a new position in Commerce Bancshares in the 3rd quarter valued at about $6,087,000. 70.26% of the stock is currently owned by institutional investors.

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Insider Buying and Selling at Commerce Bancshares

In related news, CFO Charles G. Kim sold 13,493 shares of Commerce Bancshares stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $67.76, for a total transaction of $914,285.68. Following the sale, the chief financial officer now directly owns 86,246 shares in the company, valued at $5,844,028.96. This trade represents a 13.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman David W. Kemper sold 4,500 shares of the business's stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $69.22, for a total transaction of $311,490.00. Following the completion of the sale, the chairman now directly owns 23,725 shares in the company, valued at approximately $1,642,244.50. This represents a 15.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 86,054 shares of company stock worth $5,771,192 over the last 90 days. Insiders own 3.10% of the company's stock.

Commerce Bancshares Trading Up 0.5 %

Commerce Bancshares stock traded up $0.34 during trading hours on Tuesday, reaching $64.43. 189,366 shares of the stock were exchanged, compared to its average volume of 509,640. Commerce Bancshares, Inc. has a twelve month low of $47.89 and a twelve month high of $72.75. The company has a market cap of $8.26 billion, a P/E ratio of 16.07, a price-to-earnings-growth ratio of 2.13 and a beta of 0.80. The stock has a 50 day moving average of $64.72 and a two-hundred day moving average of $64.45.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.06. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The business had revenue of $422.10 million for the quarter, compared to analysts' expectations of $417.48 million. During the same period last year, the firm posted $0.84 earnings per share. The firm's quarterly revenue was up 7.3% compared to the same quarter last year. On average, analysts expect that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Commerce Bancshares's previous quarterly dividend of $0.27. This represents a $1.10 annualized dividend and a yield of 1.71%. Commerce Bancshares's dividend payout ratio (DPR) is 27.43%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CBSH shares. Keefe, Bruyette & Woods upped their target price on Commerce Bancshares from $66.00 to $78.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. StockNews.com raised Commerce Bancshares from a "sell" rating to a "hold" rating in a report on Monday, January 13th. Wells Fargo & Company lifted their target price on Commerce Bancshares from $67.00 to $70.00 and gave the stock an "equal weight" rating in a report on Wednesday, January 29th. Piper Sandler upped their price target on shares of Commerce Bancshares from $69.00 to $72.00 and gave the company a "neutral" rating in a research note on Thursday, January 23rd. Finally, Raymond James cut shares of Commerce Bancshares from an "outperform" rating to a "market perform" rating in a research note on Thursday, December 19th. Seven analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $67.83.

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.