C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Invests $203,000 in Commerce Bancshares, Inc. (NASDAQ:CBSH)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 3,258 shares of the financial services provider’s stock, valued at approximately $203,000.

Several other large investors have also modified their holdings of CBSH. Allworth Financial LP boosted its stake in shares of Commerce Bancshares by 51.1% during the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 192 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Commerce Bancshares during the 3rd quarter worth $39,000. True Wealth Design LLC bought a new stake in shares of Commerce Bancshares during the 3rd quarter worth $47,000. V Square Quantitative Management LLC boosted its stake in shares of Commerce Bancshares by 84.0% during the 4th quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 361 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of Commerce Bancshares by 48.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 287 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 500 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $68.55, for a total transaction of $34,275.00. Following the transaction, the senior vice president now directly owns 22,265 shares in the company, valued at $1,526,265.75. This trade represents a 2.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Charles G. Kim sold 13,493 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $67.76, for a total value of $914,285.68. Following the transaction, the chief financial officer now owns 86,246 shares in the company, valued at approximately $5,844,028.96. This trade represents a 13.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,054 shares of company stock worth $5,771,192. Corporate insiders own 3.20% of the company’s stock.

Commerce Bancshares Trading Down 1.5 %

Shares of NASDAQ:CBSH opened at $64.90 on Friday. Commerce Bancshares, Inc. has a 1 year low of $47.89 and a 1 year high of $72.75. The business has a fifty day simple moving average of $64.86 and a 200 day simple moving average of $64.33. The firm has a market cap of $8.32 billion, a price-to-earnings ratio of 16.18, a P/E/G ratio of 2.19 and a beta of 0.80.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the company earned $0.84 earnings per share. Commerce Bancshares’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, sell-side analysts forecast that Commerce Bancshares, Inc. will post 3.92 EPS for the current year.

Commerce Bancshares Increases Dividend

The company 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 dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.69%. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, March 7th. Commerce Bancshares’s dividend payout ratio (DPR) is currently 26.93%.

Analyst Ratings Changes

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

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.