IFG Advisory LLC Has $5.38 Million Holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH)

IFG Advisory LLC increased its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 100,758 shares of the financial services provider’s stock after buying an additional 4,802 shares during the quarter. IFG Advisory LLC owned approximately 0.08% of Commerce Bancshares worth $5,382,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. First Republic Investment Management Inc. boosted its position 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 purchasing an additional 138 shares during the period. Cetera Advisors LLC boosted its position 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 purchasing an additional 179 shares during the period. Treasurer of the State of North Carolina boosted its position 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 purchasing an additional 230 shares during the period. Mercer Global Advisors Inc. ADV boosted its position in shares of Commerce Bancshares by 1.1% in the third quarter. Mercer Global Advisors Inc. ADV now owns 23,906 shares of the financial services provider’s stock valued at $1,147,000 after acquiring an additional 250 shares during the period. Finally, Sound Stewardship LLC boosted its position in shares of Commerce Bancshares by 5.0% in the fourth quarter. Sound Stewardship LLC now owns 5,403 shares of the financial services provider’s stock valued at $289,000 after acquiring an additional 256 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

CBSH has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their target price on shares of Commerce Bancshares from $54.00 to $56.00 and gave the company a “market perform” rating in a research report on Friday, January 19th. Bank of America initiated 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. Finally, Morgan Stanley boosted their target price on shares of Commerce Bancshares from $46.00 to $55.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat, Commerce Bancshares presently has an average rating of “Hold” and an average price target of $53.17.

Commerce Bancshares Price Performance

Shares of CBSH stock opened at $53.33 on Thursday. The business’s 50 day simple moving average is $52.09 and its 200 day simple moving average is $50.41. Commerce Bancshares, Inc. has a one year low of $40.91 and a one year high of $57.00. The stock has a market capitalization of $6.93 billion, a PE ratio of 14.69 and a beta of 0.78.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.02. Commerce Bancshares had a return on equity of 17.46% and a net margin of 24.41%. The firm had revenue of $393.30 million for the quarter, compared to analysts’ expectations of $386.34 million. During the same period in the prior year, the business earned $0.99 EPS. The company’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, research analysts expect that Commerce Bancshares, Inc. will post 3.25 earnings per share for the current 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 given 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 payout ratio is currently 29.75%.

Insider Activity at Commerce Bancshares

In other news, EVP Robert S. Holmes sold 5,000 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now directly owns 50,293 shares of the company’s stock, valued at approximately $2,648,429.38. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Robert S. Holmes sold 5,000 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now directly owns 50,293 shares of the company’s stock, valued at approximately $2,648,429.38. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 value of $40,055.10. Following the transaction, the senior vice president now 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. In the last three months, insiders sold 14,321 shares of company stock valued at $752,387. 3.10% of the stock is owned by insiders.

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.