3,258 Shares in Commerce Bancshares, Inc. (NASDAQ:CBSH) Purchased by C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Commerce Bancshares, Inc. (NASDAQ:CBSH) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 3,258 shares of the financial services provider’s stock, valued at approximately $203,000.

Several other institutional investors have also modified their holdings of CBSH. Blue Trust Inc. lifted its stake in shares of Commerce Bancshares by 12,340.0% in the third quarter. Blue Trust Inc. now owns 1,244 shares of the financial services provider’s stock worth $69,000 after acquiring an additional 1,234 shares in the last quarter. Raymond James & Associates increased its holdings in Commerce Bancshares by 5.5% in the third quarter. Raymond James & Associates now owns 143,046 shares of the financial services provider’s stock valued at $8,497,000 after buying an additional 7,512 shares during the last quarter. CENTRAL TRUST Co increased its holdings in Commerce Bancshares by 3.4% in the third quarter. CENTRAL TRUST Co now owns 34,767 shares of the financial services provider’s stock valued at $2,065,000 after buying an additional 1,139 shares during the last quarter. Nicholson Wealth Management Group LLC bought a new stake in Commerce Bancshares in the third quarter valued at about $731,000. Finally, Allworth Financial LP increased its holdings in Commerce Bancshares by 51.1% in the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after buying an additional 192 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

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

Commerce Bancshares Price Performance

Shares of CBSH stock opened at $64.90 on Friday. Commerce Bancshares, Inc. has a 12-month low of $47.89 and a 12-month high of $72.75. The firm has a market capitalization of $8.32 billion, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 2.19 and a beta of 0.80. The business has a 50 day simple moving average of $64.86 and a 200 day simple moving average of $64.33.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The business had revenue of $422.10 million during the quarter, compared to analyst estimates of $417.48 million. During the same period in the prior year, the company posted $0.84 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities analysts anticipate that Commerce Bancshares, Inc. will post 3.92 EPS 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. Investors of record on Friday, March 7th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.69%. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, March 7th. Commerce Bancshares’s dividend payout ratio is 26.93%.

Insider Buying and Selling

In other Commerce Bancshares news, CFO Charles G. Kim sold 13,493 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $67.76, for a total value of $914,285.68. Following the completion of the sale, the chief financial officer now directly owns 86,246 shares in the company, valued at $5,844,028.96. This represents a 13.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John W. Kemper sold 26,042 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $67.28, for a total value of $1,752,105.76. Following the completion of the sale, the chief executive officer now owns 211,929 shares of the company’s stock, valued at $14,258,583.12. This trade represents a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 86,054 shares of company stock valued at $5,771,192 in the last three months. 3.20% of the stock is currently owned by corporate insiders.

Commerce Bancshares 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.