WCG Wealth Advisors LLC Buys 835 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

WCG Wealth Advisors LLC lifted its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 4.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 19,600 shares of the financial services provider’s stock after buying an additional 835 shares during the quarter. WCG Wealth Advisors LLC’s holdings in Commerce Bancshares were worth $1,221,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CBSH. Atria Wealth Solutions Inc. increased its stake in Commerce Bancshares by 1.5% during the 4th quarter. Atria Wealth Solutions Inc. now owns 11,062 shares of the financial services provider’s stock valued at $689,000 after purchasing an additional 166 shares in the last quarter. Canopy Partners LLC grew its holdings in shares of Commerce Bancshares by 4.9% during the fourth quarter. Canopy Partners LLC now owns 3,609 shares of the financial services provider’s stock valued at $225,000 after buying an additional 168 shares during the last quarter. Apriem Advisors increased its position in shares of Commerce Bancshares by 5.0% during the fourth quarter. Apriem Advisors now owns 3,827 shares of the financial services provider’s stock valued at $238,000 after acquiring an additional 182 shares in the last quarter. Verde Capital Management raised its holdings in Commerce Bancshares by 5.4% in the 4th quarter. Verde Capital Management now owns 3,573 shares of the financial services provider’s stock worth $223,000 after acquiring an additional 183 shares during the last quarter. Finally, Frank Rimerman Advisors LLC raised its holdings in Commerce Bancshares by 4.9% in the 4th quarter. Frank Rimerman Advisors LLC now owns 3,993 shares of the financial services provider’s stock worth $249,000 after acquiring an additional 186 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In other news, Director June Mcallister Fowler sold 1,618 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was 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 in the company, valued at $192,786. This represents a 33.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 3.10% of the stock is currently owned by insiders.

Commerce Bancshares Price Performance

CBSH stock opened at $62.76 on Friday. The company has a market cap of $8.37 billion, a P/E ratio of 15.65, a price-to-earnings-growth 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 stock’s fifty day moving average price is $61.21 and its 200-day moving average price is $64.45.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. The company had revenue of $428.05 million for the quarter, compared to the consensus estimate of $417.85 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. As a group, analysts expect that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The firm also recently disclosed 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 1.75%. The ex-dividend date of this dividend is Friday, June 6th. Commerce Bancshares’s dividend payout ratio (DPR) is presently 26.63%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CBSH. Morgan Stanley upgraded Commerce Bancshares from an “underweight” rating to an “equal weight” rating and cut their target price for the company from $66.00 to $58.00 in a research note on Monday, April 7th. Wall Street Zen downgraded Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday. 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 report on Wednesday, April 9th. Keefe, Bruyette & Woods decreased their target price on 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. Finally, Piper Sandler raised 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. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $63.20.

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.