C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Takes Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) in the 4th quarter, according to its most recent filing with the Securities and 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 made changes to their positions in CBSH. V Square Quantitative Management LLC acquired a new stake in shares of Commerce Bancshares during the 3rd quarter valued at about $26,000. Allworth Financial LP lifted its holdings 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 valued at $34,000 after buying an additional 192 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in Commerce Bancshares in the 3rd quarter worth approximately $39,000. True Wealth Design LLC acquired a new stake in Commerce Bancshares in the 3rd quarter worth approximately $47,000. Finally, Farther Finance Advisors LLC lifted its holdings in Commerce Bancshares by 48.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 287 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 500 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $68.55, for a total value of $34,275.00. Following the sale, the senior vice president now directly owns 22,265 shares in the company, valued at $1,526,265.75. This represents a 2.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 on Tuesday, February 4th. The shares were 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 in the company, 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. Over the last ninety days, insiders have sold 86,944 shares of company stock worth $5,835,512. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

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

Commerce Bancshares Stock Down 1.1 %

Shares of CBSH stock opened at $65.74 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 cap of $8.43 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 2.27 and a beta of 0.80. The stock has a 50 day moving average of $65.05 and a 200-day moving average of $64.26.

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

Commerce Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.67%. Commerce Bancshares’s payout ratio is currently 26.93%.

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.