Integrated Wealth Concepts LLC Invests $842,000 in Commerce Bancshares, Inc. (NASDAQ:CBSH)

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

Other institutional investors and hedge funds have also recently modified their holdings of the company. CoreFirst Bank & Trust purchased a new position in shares of Commerce Bancshares in the 4th quarter valued at about $33,000. Marshall Investment Management LLC purchased a new position in shares of Commerce Bancshares in the 4th quarter valued at $35,000. V Square Quantitative Management LLC raised its stake in Commerce Bancshares by 84.0% during the 4th quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider's stock worth $49,000 after acquiring an additional 361 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in Commerce Bancshares by 46.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 839 shares of the financial services provider's stock valued at $52,000 after acquiring an additional 268 shares during the last quarter. Finally, Transce3nd LLC acquired a new position in Commerce Bancshares in the fourth quarter valued at $68,000. Institutional investors and hedge funds own 70.26% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Transactions at Commerce Bancshares

In other Commerce Bancshares 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 value of $914,285.68. Following the completion of the sale, the chief financial officer now directly owns 86,246 shares of the company's stock, valued at approximately $5,844,028.96. The trade was a 13.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David L. Orf sold 1,036 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $68.24, for a total value of $70,696.64. Following the transaction, the vice president now directly owns 22,175 shares in the company, valued at approximately $1,513,222. This represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,842 shares of company stock valued at $3,423,857 in the last 90 days. 3.10% of the stock is currently owned by insiders.

Commerce Bancshares Stock Up 2.8 %

CBSH stock traded up $1.73 on Friday, reaching $63.02. 328,996 shares of the company's stock were exchanged, compared to its average volume of 590,339. The stock has a fifty day moving average of $60.62 and a 200-day moving average of $64.26. The firm has a market cap of $8.45 billion, a PE ratio of 15.72, a P/E/G ratio of 2.13 and a beta of 0.71. Commerce Bancshares, Inc. has a twelve month low of $49.97 and a twelve month high of $72.75.

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

Commerce Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Friday, June 6th will be issued a dividend of $0.275 per share. The ex-dividend date is Friday, June 6th. This represents a $1.10 annualized dividend and a yield of 1.75%. Commerce Bancshares's dividend payout ratio is presently 26.63%.

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.