Nicholson Wealth Management Group LLC Makes New $731,000 Investment in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Nicholson Wealth Management Group LLC bought a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 12,302 shares of the financial services provider’s stock, valued at approximately $731,000.

Other hedge funds have also modified their holdings of the company. Oak Thistle LLC acquired a new stake in Commerce Bancshares in the 1st quarter valued at about $270,000. Allspring Global Investments Holdings LLC lifted its position in Commerce Bancshares by 93.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,670 shares of the financial services provider’s stock worth $89,000 after buying an additional 805 shares in the last quarter. State of Michigan Retirement System boosted its stake in Commerce Bancshares by 2.1% during the first quarter. State of Michigan Retirement System now owns 29,081 shares of the financial services provider’s stock worth $1,547,000 after buying an additional 600 shares during the last quarter. Norden Group LLC purchased a new stake in Commerce Bancshares in the 1st quarter valued at $475,000. Finally, Kesler Norman & Wride LLC increased its stake in shares of Commerce Bancshares by 2.7% in the 1st quarter. Kesler Norman & Wride LLC now owns 47,463 shares of the financial services provider’s stock worth $2,525,000 after acquiring an additional 1,246 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Commerce Bancshares Trading Down 0.6 %

CBSH stock opened at $61.53 on Friday. The business’s fifty day moving average price is $61.19 and its 200 day moving average price is $58.28. Commerce Bancshares, Inc. has a 12-month low of $40.91 and a 12-month high of $65.86. The company has a market capitalization of $7.93 billion, a PE ratio of 16.02, a P/E/G ratio of 3.05 and a beta of 0.74.

Insider Buying and Selling at Commerce Bancshares

In related news, Director June Mcallister Fowler sold 1,535 shares of Commerce Bancshares stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $65.16, for a total value of $100,020.60. Following the completion of the transaction, the director now owns 2,722 shares in the company, valued at approximately $177,365.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Charles G. Kim sold 5,282 shares of Commerce Bancshares stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $65.00, for a total value of $343,330.00. Following the completion of the transaction, the chief financial officer now owns 89,472 shares in the company, valued at approximately $5,815,680. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director June Mcallister Fowler sold 1,535 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $65.16, for a total transaction of $100,020.60. Following the sale, the director now owns 2,722 shares in the company, valued at $177,365.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,174 shares of company stock valued at $3,151,255 in the last three months. 3.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CBSH. Wells Fargo & Company upped their price objective on shares of Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a report on Monday, July 22nd. Jefferies Financial Group increased their price objective on Commerce Bancshares from $60.00 to $62.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Morgan Stanley lowered Commerce Bancshares from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $66.00 to $64.00 in a research note on Monday, September 30th. Finally, Piper Sandler set a $68.50 price objective on Commerce Bancshares and gave the stock a “neutral” rating in a research report on Friday, October 18th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $61.79.

About Commerce Bancshares

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.