Nicholson Wealth Management Group LLC Purchases 8,068 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Nicholson Wealth Management Group LLC increased its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 65.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,370 shares of the financial services provider’s stock after purchasing an additional 8,068 shares during the quarter. Nicholson Wealth Management Group LLC’s holdings in Commerce Bancshares were worth $1,269,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Allworth Financial LP lifted its holdings in shares of Commerce Bancshares by 51.1% in the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 192 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of Commerce Bancshares in the third quarter worth about $39,000. True Wealth Design LLC bought a new position in shares of Commerce Bancshares in the third quarter worth about $47,000. V Square Quantitative Management LLC lifted its holdings in shares of Commerce Bancshares by 84.0% in the fourth 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 during the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Commerce Bancshares by 48.2% in the third quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 287 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

CBSH has been the subject of a number of research reports. Piper Sandler increased their target price on shares of Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Raymond James downgraded Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Keefe, Bruyette & Woods upped their price objective on Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company upped their price objective on Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Seven investment analysts have rated the stock with a hold rating, According to MarketBeat, Commerce Bancshares currently has a consensus rating of “Hold” and an average target price of $67.83.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, CFO Charles G. Kim sold 13,493 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $67.76, for a total transaction of $914,285.68. Following the completion of the sale, the chief financial officer now owns 86,246 shares of the company’s stock, valued at approximately $5,844,028.96. This represents a 13.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP David L. Orf sold 1,036 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $68.24, for a total transaction of $70,696.64. Following the sale, the vice president now directly owns 22,175 shares of the company’s stock, valued at $1,513,222. This represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,054 shares of company stock valued at $5,771,192. 3.20% of the stock is currently owned by company insiders.

Commerce Bancshares Price Performance

Commerce Bancshares stock opened at $64.90 on Friday. The business has a 50 day moving average of $64.86 and a 200-day moving average of $64.33. Commerce Bancshares, Inc. has a 1 year low of $47.89 and a 1 year high of $72.75. The company has a market capitalization of $8.32 billion, a P/E ratio of 16.18, a P/E/G ratio of 2.17 and a beta of 0.80.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. The business had revenue of $422.10 million during the quarter, compared to the consensus estimate of $417.48 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.84 EPS. Equities analysts anticipate that Commerce Bancshares, Inc. will post 3.93 EPS for the current year.

Commerce Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Friday, March 7th. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s dividend payout ratio is currently 26.93%.

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.