13,513 Shares in Commerce Bancshares, Inc. (NASDAQ:CBSH) Acquired by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC bought a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 13,513 shares of the financial services provider's stock, valued at approximately $842,000.

Several other large investors have also added to or reduced their stakes in CBSH. Barclays PLC lifted its stake in shares of Commerce Bancshares by 19.4% during the 3rd quarter. Barclays PLC now owns 106,934 shares of the financial services provider's stock valued at $6,353,000 after buying an additional 17,400 shares in the last quarter. Virtu Financial LLC bought a new stake in Commerce Bancshares during the third quarter valued at about $566,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Commerce Bancshares in the third quarter valued at about $475,000. Tidal Investments LLC boosted its stake in shares of Commerce Bancshares by 13.5% in the third quarter. Tidal Investments LLC now owns 39,040 shares of the financial services provider's stock worth $2,319,000 after acquiring an additional 4,654 shares during the period. Finally, Franklin Resources Inc. bought a new position in shares of Commerce Bancshares in the third quarter worth about $2,861,000. Hedge funds and other institutional investors own 70.26% of the company's stock.

Commerce Bancshares Price Performance

Shares of NASDAQ CBSH traded down $0.61 during mid-day trading on Tuesday, hitting $62.07. 54,192 shares of the company's stock traded hands, compared to its average volume of 587,045. The company has a market capitalization of $8.32 billion, a P/E ratio of 15.50, a PEG ratio of 2.13 and a beta of 0.60. Commerce Bancshares, Inc. has a 1 year low of $49.97 and a 1 year high of $72.75. The company's 50-day moving average is $60.59 and its two-hundred day moving average is $64.29.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.05. The business had revenue of $428.05 million during the quarter, compared to analyst estimates of $417.85 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. Equities analysts anticipate that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Friday, June 6th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Friday, June 6th. Commerce Bancshares's dividend payout ratio is currently 26.63%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Morgan Stanley raised Commerce Bancshares from an "underweight" rating to an "equal weight" rating and lowered their price target for the stock from $66.00 to $58.00 in a report on Monday, April 7th. StockNews.com lowered shares of Commerce Bancshares from a "hold" rating to a "sell" rating in a research report on Thursday, April 17th. Piper Sandler lifted their price target on shares of Commerce Bancshares from $65.00 to $66.00 and gave the company a "neutral" rating in a report on Thursday, April 17th. Wells Fargo & Company dropped their price objective on shares of Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. Finally, Keefe, Bruyette & Woods reduced their target price on Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $63.20.

Insider Buying and Selling

In other Commerce Bancshares news, Director June Mcallister Fowler sold 1,618 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $60.72, for a total value of $98,244.96. Following the completion of the sale, the director now directly owns 3,175 shares of the company's stock, valued at $192,786. The trade was a 33.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Charles G. Kim sold 13,493 shares of the firm's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $67.76, for a total value of $914,285.68. Following the transaction, the chief financial officer now owns 86,246 shares in the company, valued at $5,844,028.96. The trade was a 13.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,147 shares of company stock valued at $1,083,227. Company insiders own 3.10% of the company's stock.

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.