PFW Advisors LLC Takes Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

PFW Advisors LLC acquired a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 21,447 shares of the financial services provider’s stock, valued at approximately $1,336,000.

A number of other hedge funds have also recently added to or reduced their stakes in CBSH. Sound Stewardship LLC raised its position in Commerce Bancshares by 3.9% in the third quarter. Sound Stewardship LLC now owns 4,339 shares of the financial services provider’s stock valued at $258,000 after purchasing an additional 163 shares during the last quarter. GAMMA Investing LLC grew its holdings in Commerce Bancshares by 19.6% during the 4th 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 last quarter. Allworth Financial LP increased its position in Commerce Bancshares by 51.1% in the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 192 shares during the period. Outlook Wealth Advisors LLC raised its stake in shares of Commerce Bancshares by 3.6% during the third quarter. Outlook Wealth Advisors LLC now owns 6,303 shares of the financial services provider’s stock valued at $374,000 after acquiring an additional 217 shares during the last quarter. Finally, Marshall Financial Group LLC lifted its holdings in shares of Commerce Bancshares by 1.2% during the third quarter. Marshall Financial Group LLC now owns 18,257 shares of the financial services provider’s stock worth $1,084,000 after purchasing an additional 223 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

CBSH has been the subject of several analyst reports. Raymond James lowered Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Morgan Stanley lowered Commerce Bancshares from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $66.00 to $64.00 in a research note on Monday, September 30th. Wells Fargo & Company boosted their price target on shares of Commerce Bancshares from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd. Keefe, Bruyette & Woods increased their price objective on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, StockNews.com downgraded shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, December 31st. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $66.75.

Commerce Bancshares Price Performance

Shares of CBSH stock traded up $0.59 on Monday, reaching $61.74. 589,719 shares of the company were exchanged, compared to its average volume of 497,288. Commerce Bancshares, Inc. has a one year low of $47.09 and a one year high of $72.75. The company has a market cap of $7.92 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 2.92 and a beta of 0.79. The company has a 50-day moving average of $67.48 and a 200-day moving average of $63.17.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.07. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. The firm had revenue of $421.38 million during the quarter, compared to analysts’ expectations of $412.85 million. As a group, sell-side analysts predict that Commerce Bancshares, Inc. will post 3.95 EPS for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd were issued a dividend of $0.27 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $1.08 annualized dividend and a yield of 1.75%. Commerce Bancshares’s payout ratio is 28.13%.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, SVP Douglas D. Neff sold 888 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $72.10, for a total transaction of $64,024.80. Following the transaction, the senior vice president now directly owns 8,038 shares in the company, valued at approximately $579,539.80. This trade represents a 9.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman David W. Kemper sold 30,000 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $61.78, for a total transaction of $1,853,400.00. Following the completion of the sale, the chairman now directly owns 1,151,994 shares of the company’s stock, valued at $71,170,189.32. The trade was a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,398 shares of company stock valued at $2,504,665. Corporate insiders own 3.20% of the company’s stock.

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.