InterOcean Capital Group LLC Buys 2,868 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

InterOcean Capital Group LLC boosted its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 20.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,686 shares of the financial services provider’s stock after acquiring an additional 2,868 shares during the quarter. InterOcean Capital Group LLC’s holdings in Commerce Bancshares were worth $891,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. BKM Wealth Management LLC purchased a new stake in Commerce Bancshares during the 4th quarter valued at about $29,000. Creative Financial Designs Inc. ADV acquired a new stake in Commerce Bancshares during the fourth quarter worth $35,000. Exchange Traded Concepts LLC acquired a new stake in Commerce Bancshares in the fourth quarter valued at $55,000. Signaturefd LLC increased its position in shares of Commerce Bancshares by 14.4% during the fourth quarter. Signaturefd LLC now owns 1,694 shares of the financial services provider’s stock worth $90,000 after purchasing an additional 213 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its position in Commerce Bancshares by 11.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,604 shares of the financial services provider’s stock valued at $139,000 after acquiring an additional 264 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CBSH has been the subject of a number of recent research reports. Morgan Stanley increased their target price on Commerce Bancshares from $46.00 to $55.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, April 17th. Piper Sandler boosted their target price on shares of Commerce Bancshares from $53.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Raymond James raised shares of Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 price objective for the company in a research report on Wednesday, April 17th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Commerce Bancshares from $58.00 to $60.00 and gave the company a “market perform” rating in a research note on Friday, May 10th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Commerce Bancshares presently has an average rating of “Hold” and a consensus price target of $55.29.

Commerce Bancshares Stock Down 0.3 %

Shares of NASDAQ:CBSH traded down $0.15 during midday trading on Thursday, reaching $55.85. The company’s stock had a trading volume of 26,403 shares, compared to its average volume of 462,107. The firm has a market capitalization of $7.23 billion, a P/E ratio of 15.62, a PEG ratio of 1.87 and a beta of 0.76. The firm has a 50 day moving average of $53.95 and a 200-day moving average of $52.58. Commerce Bancshares, Inc. has a 12-month low of $40.91 and a 12-month high of $57.48.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. The firm had revenue of $397.80 million during the quarter, compared to the consensus estimate of $389.49 million. Commerce Bancshares had a return on equity of 16.78% and a net margin of 23.33%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.90 EPS. On average, research analysts predict that Commerce Bancshares, Inc. will post 3.53 EPS for the current year.

Commerce Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Wednesday, June 5th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Wednesday, June 5th. Commerce Bancshares’s dividend payout ratio (DPR) is presently 30.12%.

Insider Buying and Selling at Commerce Bancshares

In other news, EVP Robert S. Holmes sold 5,000 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $52.66, for a total value of $263,300.00. Following the transaction, the executive vice president now owns 50,293 shares in the company, valued at approximately $2,648,429.38. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO John W. Kemper sold 26,581 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $56.77, for a total value of $1,509,003.37. Following the completion of the transaction, the chief executive officer now owns 198,387 shares of the company’s stock, valued at $11,262,429.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert S. Holmes sold 5,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $52.66, for a total value of $263,300.00. Following the sale, the executive vice president now owns 50,293 shares in the company, valued at $2,648,429.38. The disclosure for this sale can be found here. 3.20% of the stock is owned by company insiders.

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.