ICW Investment Advisors LLC Sells 359 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

ICW Investment Advisors LLC lessened its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 3.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,968 shares of the financial services provider’s stock after selling 359 shares during the period. ICW Investment Advisors LLC’s holdings in Commerce Bancshares were worth $556,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. United Advisor Group LLC acquired a new stake in Commerce Bancshares during the fourth quarter worth approximately $3,827,000. Vanguard Group Inc. grew its holdings in shares of Commerce Bancshares by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 12,631,645 shares of the financial services provider’s stock worth $672,004,000 after purchasing an additional 259,127 shares in the last quarter. Speece Thorson Capital Group Inc. increased its position in shares of Commerce Bancshares by 37.3% in the fourth quarter. Speece Thorson Capital Group Inc. now owns 232,774 shares of the financial services provider’s stock worth $12,432,000 after purchasing an additional 63,266 shares during the period. Trexquant Investment LP acquired a new position in Commerce Bancshares in the fourth quarter valued at about $1,176,000. Finally, SG Americas Securities LLC acquired a new position in Commerce Bancshares in the second quarter valued at about $1,226,000. 70.26% of the stock is owned by institutional investors.

Commerce Bancshares Price Performance

Shares of NASDAQ CBSH traded up $0.37 during mid-day trading on Friday, hitting $62.67. 11,943 shares of the stock traded hands, compared to its average volume of 510,722. Commerce Bancshares, Inc. has a twelve month low of $40.91 and a twelve month high of $65.86. The firm has a 50 day simple moving average of $61.02 and a two-hundred day simple moving average of $56.23. The company has a market cap of $8.12 billion, a PE ratio of 17.35, a price-to-earnings-growth ratio of 10.46 and a beta of 0.75.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.17. Commerce Bancshares had a return on equity of 16.50% and a net margin of 23.62%. The company had revenue of $414.90 million for the quarter, compared to analysts’ expectations of $406.88 million. During the same period in the previous year, the business posted $0.97 earnings per share. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts anticipate that Commerce Bancshares, Inc. will post 3.96 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.27 per share. The ex-dividend date is Thursday, September 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.72%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 30.08%.

Analyst Upgrades and Downgrades

CBSH has been the topic of several recent analyst reports. Morgan Stanley raised their target price on shares of Commerce Bancshares from $58.00 to $66.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Keefe, Bruyette & Woods lifted their price objective on shares of Commerce Bancshares from $58.00 to $60.00 and gave the company a “market perform” rating in a research note on Friday, May 10th. Wells Fargo & Company boosted their price objective on shares of Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. Finally, Jefferies Financial Group raised their target price on Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $60.00.

Insider Buying and Selling

In related news, SVP David L. Roller sold 861 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $64.30, for a total transaction of $55,362.30. Following the completion of the transaction, the senior vice president now directly owns 30,949 shares of the company’s stock, valued at approximately $1,990,020.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, SVP Patricia R. Kellerhals sold 1,500 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $60.82, for a total value of $91,230.00. Following the sale, the senior vice president now directly owns 25,381 shares of the company’s stock, valued at approximately $1,543,672.42. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP David L. Roller sold 861 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $64.30, for a total transaction of $55,362.30. Following the sale, the senior vice president now owns 30,949 shares of the company’s stock, valued at $1,990,020.70. The disclosure for this sale can be found here. Insiders have sold a total of 46,281 shares of company stock valued at $2,975,232 over the last 90 days. 3.20% of the stock is owned by insiders.

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.