WCG Wealth Advisors LLC Grows Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

WCG Wealth Advisors LLC lifted its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 14.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,761 shares of the financial services provider’s stock after buying an additional 2,344 shares during the quarter. WCG Wealth Advisors LLC’s holdings in Commerce Bancshares were worth $1,046,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Commerce Bancshares by 2.1% during the first quarter. Vanguard Group Inc. now owns 12,631,645 shares of the financial services provider’s stock valued at $672,004,000 after purchasing an additional 259,127 shares in the last quarter. Commerce Bank raised its stake in Commerce Bancshares by 2.8% during the fourth quarter. Commerce Bank now owns 7,222,818 shares of the financial services provider’s stock valued at $385,771,000 after purchasing an additional 196,431 shares in the last quarter. American Century Companies Inc. raised its stake in Commerce Bancshares by 7.4% during the second quarter. American Century Companies Inc. now owns 3,509,796 shares of the financial services provider’s stock valued at $195,776,000 after purchasing an additional 240,938 shares in the last quarter. Wells Fargo & Company MN increased its position in Commerce Bancshares by 7.1% during the fourth quarter. Wells Fargo & Company MN now owns 2,345,252 shares of the financial services provider’s stock valued at $125,260,000 after acquiring an additional 155,526 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Commerce Bancshares by 19.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,069,924 shares of the financial services provider’s stock valued at $115,453,000 after acquiring an additional 342,793 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 2,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $62.23, for a total transaction of $124,460.00. Following the transaction, the senior vice president now owns 23,381 shares of the company’s stock, valued at approximately $1,454,999.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Patricia R. Kellerhals sold 1,500 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $60.82, for a total value of $91,230.00. Following the sale, the senior vice president now directly owns 25,381 shares in the company, valued at approximately $1,543,672.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Patricia R. Kellerhals sold 2,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $62.23, for a total transaction of $124,460.00. Following the completion of the sale, the senior vice president now owns 23,381 shares in the company, valued at $1,454,999.63. The disclosure for this sale can be found here. Insiders have sold 49,612 shares of company stock valued at $3,184,609 in the last 90 days. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CBSH. Jefferies Financial Group boosted their price objective on shares of Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Wells Fargo & Company boosted their price objective on shares of Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. Finally, Morgan Stanley boosted their price objective on shares of Commerce Bancshares from $58.00 to $66.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $60.00.

Commerce Bancshares Price Performance

CBSH stock opened at $63.73 on Friday. The company has a market capitalization of $8.26 billion, a PE ratio of 17.75, a P/E/G ratio of 10.29 and a beta of 0.75. Commerce Bancshares, Inc. has a 12 month low of $40.91 and a 12 month high of $65.86. The firm’s 50-day moving average is $62.09 and its 200 day moving average is $56.88.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $0.90 by $0.17. The company had revenue of $414.90 million for the quarter, compared to the consensus estimate of $406.88 million. Commerce Bancshares had a net margin of 23.62% and a return on equity of 16.50%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.97 EPS. Sell-side analysts forecast that Commerce Bancshares, Inc. will post 3.96 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Thursday, September 5th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Thursday, September 5th. Commerce Bancshares’s dividend payout ratio is presently 30.08%.

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.