IFG Advisory LLC Lowers Holdings in Commerce Bancshares, Inc. (CBSH)

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IFG Advisory LLC trimmed its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,777 shares of the financial services provider’s stock after selling 214 shares during the quarter. IFG Advisory LLC’s holdings in Commerce Bancshares were worth $219,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CBSH. Vanguard Group Inc boosted its holdings in Commerce Bancshares by 3.1% during the third quarter. Vanguard Group Inc now owns 9,851,300 shares of the financial services provider’s stock worth $650,384,000 after purchasing an additional 300,762 shares during the last quarter. Bank of Montreal Can boosted its holdings in Commerce Bancshares by 7.9% during the fourth quarter. Bank of Montreal Can now owns 36,127 shares of the financial services provider’s stock worth $2,036,000 after purchasing an additional 2,635 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Commerce Bancshares by 27.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,602 shares of the financial services provider’s stock worth $429,000 after purchasing an additional 1,622 shares during the last quarter. Wealth Alliance Advisory Group LLC boosted its holdings in Commerce Bancshares by 5.0% during the fourth quarter. Wealth Alliance Advisory Group LLC now owns 4,972 shares of the financial services provider’s stock worth $280,000 after purchasing an additional 236 shares during the last quarter. Finally, Arizona State Retirement System boosted its holdings in Commerce Bancshares by 5.7% during the fourth quarter. Arizona State Retirement System now owns 71,249 shares of the financial services provider’s stock worth $4,016,000 after purchasing an additional 3,873 shares during the last quarter. Institutional investors and hedge funds own 63.34% of the company’s stock.

Shares of CBSH stock opened at $59.63 on Friday. The firm has a market capitalization of $6.59 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 2.05 and a beta of 0.74. Commerce Bancshares, Inc. has a one year low of $53.40 and a one year high of $72.55.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Thursday, April 11th. The financial services provider reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.06). The firm had revenue of $324.73 million during the quarter, compared to analyst estimates of $333.99 million. Commerce Bancshares had a net margin of 30.39% and a return on equity of 15.65%. Equities research analysts expect that Commerce Bancshares, Inc. will post 3.67 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, June 7th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Thursday, June 6th. Commerce Bancshares’s dividend payout ratio is currently 27.51%.

Several brokerages recently commented on CBSH. BidaskClub upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, January 31st. Zacks Investment Research upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. Stephens reiterated a “hold” rating and issued a $62.00 price target on shares of Commerce Bancshares in a research note on Thursday, April 11th. Finally, DA Davidson cut their price target on shares of Commerce Bancshares to $60.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Three equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $62.68.

In other Commerce Bancshares news, EVP John K. Handy sold 1,634 shares of the stock in a transaction on Monday, February 25th. The shares were sold at an average price of $63.70, for a total value of $104,085.80. Following the completion of the sale, the executive vice president now owns 40,368 shares in the company, valued at $2,571,441.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Douglas D. Neff sold 807 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $60.66, for a total transaction of $48,952.62. Following the sale, the senior vice president now owns 3,917 shares of the company’s stock, valued at approximately $237,605.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,833 shares of company stock valued at $1,049,692. Corporate insiders own 3.60% of the company’s stock.

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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. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online banking services.

Further Reading: Intrinsic Value

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Institutional Ownership by Quarter for Commerce Bancshares (NASDAQ:CBSH)

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