Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Bought by Apollon Wealth Management LLC

Apollon Wealth Management LLC boosted its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 6.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,276 shares of the financial services provider’s stock after purchasing an additional 871 shares during the period. Apollon Wealth Management LLC’s holdings in Commerce Bancshares were worth $952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the company. Sound Stewardship LLC raised its position in shares of Commerce Bancshares by 3.9% in the third quarter. Sound Stewardship LLC now owns 4,339 shares of the financial services provider’s stock worth $258,000 after acquiring an additional 163 shares during the period. Fifth Third Wealth Advisors LLC raised its position in shares of Commerce Bancshares by 4.9% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 3,908 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 183 shares during the period. Verde Capital Management raised its position in shares of Commerce Bancshares by 5.4% in the fourth 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 period. GAMMA Investing LLC raised its position in shares of Commerce Bancshares by 19.6% in the fourth quarter. GAMMA Investing LLC now owns 1,139 shares of the financial services provider’s stock worth $71,000 after acquiring an additional 187 shares during the period. Finally, Wealthcare Advisory Partners LLC raised its position in shares of Commerce Bancshares by 5.3% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 3,727 shares of the financial services provider’s stock worth $232,000 after acquiring an additional 187 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity

In other news, SVP David L. Roller sold 890 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $72.27, for a total value of $64,320.30. Following the transaction, the senior vice president now directly owns 30,949 shares in the company, valued at approximately $2,236,684.23. This represents a 2.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Patricia R. Kellerhals sold 500 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $68.55, for a total transaction of $34,275.00. Following the completion of the transaction, the senior vice president now owns 22,265 shares in the company, valued at approximately $1,526,265.75. This represents a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 86,944 shares of company stock valued at $5,835,512 in the last 90 days. Company insiders own 3.20% of the company’s stock.

Commerce Bancshares Trading Up 0.9 %

Shares of NASDAQ CBSH opened at $67.36 on Wednesday. Commerce Bancshares, Inc. has a 12-month low of $47.09 and a 12-month high of $72.75. The stock has a market cap of $8.64 billion, a PE ratio of 16.80, a P/E/G ratio of 2.27 and a beta of 0.80. The company has a 50-day moving average of $65.21 and a 200 day moving average of $64.23.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.06. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The company had revenue of $422.10 million during the quarter, compared to analysts’ expectations of $417.48 million. During the same quarter in the prior year, the company earned $0.84 EPS. Commerce Bancshares’s revenue was up 7.3% compared to the same quarter last year. On average, sell-side analysts forecast that Commerce Bancshares, Inc. will post 3.9 EPS for the current fiscal year.

Commerce Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be paid a $0.275 dividend. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.10 annualized dividend and a dividend yield of 1.63%. Commerce Bancshares’s dividend payout ratio is 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.