Nicholson Wealth Management Group LLC Has $1.27 Million Stake in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Nicholson Wealth Management Group LLC lifted its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 65.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,370 shares of the financial services provider’s stock after buying 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 quarter.

Several other institutional investors also recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in Commerce Bancshares by 7.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,396,740 shares of the financial services provider’s stock worth $142,951,000 after acquiring an additional 163,782 shares during the last quarter. Boston Trust Walden Corp boosted its stake in Commerce Bancshares by 17.6% during the 4th quarter. Boston Trust Walden Corp now owns 1,468,854 shares of the financial services provider’s stock worth $91,524,000 after acquiring an additional 219,826 shares during the last quarter. NFJ Investment Group LLC boosted its stake in Commerce Bancshares by 17.7% during the 3rd quarter. NFJ Investment Group LLC now owns 707,168 shares of the financial services provider’s stock worth $42,006,000 after acquiring an additional 106,316 shares during the last quarter. Mutual Advisors LLC boosted its stake in Commerce Bancshares by 4.8% during the 4th quarter. Mutual Advisors LLC now owns 474,189 shares of the financial services provider’s stock worth $30,244,000 after acquiring an additional 21,922 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its stake in Commerce Bancshares by 7,407.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 362,900 shares of the financial services provider’s stock worth $21,556,000 after acquiring an additional 358,066 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Commerce Bancshares Stock Performance

Shares of CBSH opened at $64.90 on Friday. Commerce Bancshares, Inc. has a twelve month low of $47.89 and a twelve month high of $72.75. The firm’s 50 day moving average price is $64.86 and its two-hundred day moving average price is $64.33. The firm has a market cap of $8.32 billion, a P/E ratio of 16.18, a PEG ratio of 2.17 and a beta of 0.80.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly 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. 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 previous year, the firm posted $0.84 earnings per share. The business’s revenue was up 7.3% on a year-over-year basis. On average, sell-side analysts anticipate that Commerce Bancshares, Inc. will post 3.93 earnings per share for the current fiscal year.

Commerce Bancshares Increases Dividend

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

Insider Transactions at Commerce Bancshares

In other Commerce Bancshares news, CFO Charles G. Kim sold 13,493 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $67.76, for a total value of $914,285.68. Following the transaction, the chief financial officer now directly owns 86,246 shares in the company, valued at $5,844,028.96. The trade was a 13.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Patricia R. Kellerhals sold 500 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were 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 $1,526,265.75. This trade represents a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,054 shares of company stock valued at $5,771,192 over the last 90 days. 3.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CBSH shares. Piper Sandler lifted their price objective 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. Raymond James lowered shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Keefe, Bruyette & Woods lifted 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 note on Wednesday, December 4th. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Wells Fargo & Company lifted their price target on shares of 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 data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $67.83.

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.