ICW Investment Advisors LLC Purchases 287 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

ICW Investment Advisors LLC raised its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,089 shares of the financial services provider’s stock after buying an additional 287 shares during the quarter. ICW Investment Advisors LLC’s holdings in Commerce Bancshares were worth $629,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Commerce Bancshares by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 13,225,491 shares of the financial services provider’s stock valued at $824,080,000 after buying an additional 642,401 shares during the period. American Century Companies Inc. grew its holdings in shares of Commerce Bancshares by 25.5% during the 4th quarter. American Century Companies Inc. now owns 3,675,031 shares of the financial services provider’s stock valued at $228,991,000 after purchasing an additional 745,661 shares during the last quarter. Geode Capital Management LLC grew 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 valued at $142,951,000 after purchasing an additional 163,782 shares during the last quarter. Boston Trust Walden Corp grew its holdings 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 valued at $91,524,000 after purchasing an additional 219,826 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Commerce Bancshares by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,055,430 shares of the financial services provider’s stock valued at $65,764,000 after purchasing an additional 43,928 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Insider Activity at Commerce Bancshares

In related news, VP David L. Orf sold 1,036 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $68.24, for a total transaction of $70,696.64. Following the transaction, the vice president now owns 22,175 shares in the company, valued at $1,513,222. The trade was a 4.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Patricia R. Kellerhals sold 1,719 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $67.30, for a total transaction of $115,688.70. Following the transaction, the senior vice president now owns 18,688 shares in the company, valued at approximately $1,257,702.40. The trade was a 8.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 78,434 shares of company stock worth $5,248,272 in the last quarter. Company insiders own 3.20% of the company’s stock.

Commerce Bancshares Price Performance

CBSH opened at $61.24 on Monday. Commerce Bancshares, Inc. has a fifty-two week low of $48.49 and a fifty-two week high of $72.75. The firm has a market capitalization of $8.21 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 2.13 and a beta of 0.78. The company’s 50 day moving average price is $64.42 and its two-hundred day moving average price is $64.43.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. The firm had revenue of $422.10 million for the quarter, compared to analyst estimates of $417.48 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.84 EPS. As a group, equities research analysts predict 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. Investors of record on Friday, March 7th will be given 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 an increase from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s payout ratio is presently 27.43%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CBSH. Wells Fargo & Company lifted their price target on shares of Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Piper Sandler lifted their price target on shares of Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Keefe, Bruyette & Woods lifted their price target on shares of Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Finally, Morgan Stanley reduced their target price on shares of Commerce Bancshares from $72.00 to $66.00 and set an “underweight” rating on the stock in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus 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.