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 bought a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) during the 4th quarter, Holdings Channel reports. The firm bought 3,258 shares of the financial services provider’s stock, valued at approximately $203,000.

Several other large investors also recently made changes to their positions in CBSH. Los Angeles Capital Management LLC grew its holdings in shares of Commerce Bancshares by 7,407.2% during the third quarter. Los Angeles Capital Management LLC now owns 362,900 shares of the financial services provider’s stock worth $21,556,000 after purchasing an additional 358,066 shares during the last quarter. Boston Trust Walden Corp grew its holdings in shares of Commerce Bancshares by 17.6% during the fourth quarter. Boston Trust Walden Corp now owns 1,468,854 shares of the financial services provider’s stock worth $91,524,000 after purchasing an additional 219,826 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Commerce Bancshares by 7.3% during the third quarter. Geode Capital Management LLC now owns 2,396,740 shares of the financial services provider’s stock worth $142,951,000 after purchasing an additional 163,782 shares during the last quarter. NFJ Investment Group LLC lifted its stake in shares of Commerce Bancshares by 17.7% during the third quarter. NFJ Investment Group LLC now owns 707,168 shares of the financial services provider’s stock valued at $42,006,000 after acquiring an additional 106,316 shares during the period. Finally, Zacks Investment Management acquired a new position in shares of Commerce Bancshares during the third quarter valued at $6,087,000. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Stock Performance

NASDAQ:CBSH opened at $65.74 on Friday. The company has a market cap of $8.43 billion, a PE ratio of 16.39, a PEG ratio of 2.27 and a beta of 0.80. Commerce Bancshares, Inc. has a 52-week low of $47.89 and a 52-week high of $72.75. The stock has a 50-day simple moving average of $65.05 and a 200 day simple moving average of $64.26.

Commerce Bancshares (NASDAQ:CBSH) last posted 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. The business had revenue of $422.10 million during the quarter, compared to the consensus estimate 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 last year, the company earned $0.84 earnings per share. On average, research analysts predict that Commerce Bancshares, Inc. will post 3.9 earnings per share 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. Investors of record on Friday, March 7th will be issued a dividend of $0.275 per share. The ex-dividend date is Friday, March 7th. This is an increase 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 dividend payout ratio (DPR) is presently 26.93%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Commerce Bancshares news, VP David L. Orf sold 1,036 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $68.24, for a total value of $70,696.64. Following the completion of the transaction, the vice president now directly owns 22,175 shares in the company, valued at $1,513,222. This trade represents a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Patricia R. Kellerhals sold 500 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $68.55, for a total value of $34,275.00. Following the completion of the transaction, the senior vice president now owns 22,265 shares of the company’s stock, valued at approximately $1,526,265.75. This represents a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 86,944 shares of company stock worth $5,835,512. 3.20% of the stock is 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.