Apollon Wealth Management LLC Acquires 871 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Apollon Wealth Management LLC lifted its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 6.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,276 shares of the financial services provider’s stock after acquiring an additional 871 shares during the period. Apollon Wealth Management LLC’s holdings in Commerce Bancshares were worth $952,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Sound Stewardship LLC increased its holdings in Commerce Bancshares by 3.9% during the third quarter. Sound Stewardship LLC now owns 4,339 shares of the financial services provider’s stock valued at $258,000 after buying an additional 163 shares during the period. Fifth Third Wealth Advisors LLC increased its holdings in Commerce Bancshares by 4.9% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 3,908 shares of the financial services provider’s stock valued at $244,000 after buying an additional 183 shares during the period. Verde Capital Management increased its holdings in Commerce Bancshares by 5.4% during the fourth quarter. Verde Capital Management now owns 3,573 shares of the financial services provider’s stock valued at $223,000 after buying an additional 183 shares during the period. GAMMA Investing LLC increased its holdings in Commerce Bancshares by 19.6% during the fourth quarter. GAMMA Investing LLC now owns 1,139 shares of the financial services provider’s stock valued at $71,000 after buying an additional 187 shares during the period. Finally, Wealthcare Advisory Partners LLC increased its holdings in Commerce Bancshares by 5.3% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 3,727 shares of the financial services provider’s stock valued at $232,000 after buying an additional 187 shares during the period. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

CBSH has been the topic of several research reports. Piper Sandler lifted their price objective on shares of Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Wells Fargo & Company lifted their price objective on shares of Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Raymond James lowered shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Seven investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Commerce Bancshares currently has a consensus rating of “Hold” and an average target price of $67.83.

Insider Transactions at Commerce Bancshares

In other news, CEO John W. Kemper sold 26,042 shares of Commerce Bancshares stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $67.28, for a total transaction of $1,752,105.76. Following the completion of the sale, the chief executive officer now directly owns 211,929 shares in the company, valued at approximately $14,258,583.12. The trade was a 10.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP David L. Roller sold 890 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $72.27, for a total transaction of $64,320.30. Following the transaction, the senior vice president now owns 30,949 shares of the company’s stock, valued at $2,236,684.23. This represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,944 shares of company stock worth $5,835,512. Company insiders own 3.20% of the company’s stock.

Commerce Bancshares Trading Up 0.9 %

NASDAQ:CBSH opened at $67.36 on Wednesday. Commerce Bancshares, Inc. has a 12 month low of $47.09 and a 12 month high of $72.75. The firm has a fifty day simple moving average of $65.21 and a 200-day simple moving average of $64.23. The company has a market capitalization of $8.64 billion, a P/E ratio of 16.80, a PEG ratio of 2.27 and a beta of 0.80.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.95 by $0.06. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The business had revenue of $422.10 million during the quarter, compared to the consensus estimate of $417.48 million. During the same period in the previous year, the firm posted $0.84 earnings per share. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. Equities analysts forecast that Commerce Bancshares, Inc. will post 3.9 EPS for the current year.

Commerce Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.275 per share. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.27. This represents a $1.10 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Friday, March 7th. Commerce Bancshares’s payout ratio is presently 26.93%.

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.