Axxcess Wealth Management LLC Purchases 667 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Axxcess Wealth Management LLC boosted its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 13,018 shares of the financial services provider’s stock after acquiring an additional 667 shares during the period. Axxcess Wealth Management LLC’s holdings in Commerce Bancshares were worth $811,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Gallacher Capital Management LLC bought a new stake in shares of Commerce Bancshares in the fourth quarter valued at approximately $215,000. Corient Private Wealth LLC grew its stake in Commerce Bancshares by 8.8% in the 4th quarter. Corient Private Wealth LLC now owns 13,794 shares of the financial services provider’s stock valued at $860,000 after buying an additional 1,120 shares in the last quarter. Natixis Advisors LLC raised its holdings in Commerce Bancshares by 10.7% during the 4th quarter. Natixis Advisors LLC now owns 18,918 shares of the financial services provider’s stock valued at $1,179,000 after acquiring an additional 1,828 shares during the period. Frank Rimerman Advisors LLC lifted its position in shares of Commerce Bancshares by 4.9% during the fourth 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 in the last quarter. Finally, Hilton Capital Management LLC lifted its position in shares of Commerce Bancshares by 10.1% during the fourth quarter. Hilton Capital Management LLC now owns 32,852 shares of the financial services provider’s stock worth $2,047,000 after acquiring an additional 3,005 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Commerce Bancshares

In other news, SVP Patricia R. Kellerhals sold 1,719 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $67.30, for a total value of $115,688.70. Following the completion of the sale, the senior vice president now directly owns 18,688 shares in the company, valued at approximately $1,257,702.40. The trade was a 8.42 % decrease in their position. The sale was disclosed in a legal filing 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 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 transaction, the vice president now directly owns 22,175 shares in the company, valued at approximately $1,513,222. This represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 78,434 shares of company stock worth $5,248,272. 3.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on CBSH. Piper Sandler boosted their price objective on Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Morgan Stanley reduced their target price on Commerce Bancshares from $72.00 to $66.00 and set an “underweight” rating for the company in a report on Thursday, March 13th. Keefe, Bruyette & Woods increased their price target on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Raymond James cut shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Finally, StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $68.17.

Commerce Bancshares Trading Down 1.4 %

CBSH stock opened at $61.44 on Friday. The company’s 50 day moving average is $64.42 and its 200 day moving average is $64.43. The stock has a market cap of $8.24 billion, a price-to-earnings ratio of 15.32, a price-to-earnings-growth ratio of 2.13 and a beta of 0.78. Commerce Bancshares, Inc. has a 1-year low of $48.42 and a 1-year high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The firm had revenue of $422.10 million for the quarter, compared to analyst estimates of $417.48 million. During the same quarter in the prior year, the firm earned $0.84 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Commerce Bancshares, Inc. will post 3.94 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. Shareholders of record on Friday, March 7th will be paid a dividend of $0.275 per share. The ex-dividend date is Friday, March 7th. This represents a $1.10 annualized dividend and a yield of 1.79%. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s payout ratio is 27.43%.

Commerce Bancshares 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.