Atria Wealth Solutions Inc. Acquires 166 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Atria Wealth Solutions Inc. raised its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 1.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,062 shares of the financial services provider’s stock after purchasing an additional 166 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Commerce Bancshares were worth $689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of CBSH. Allworth Financial LP grew its stake in Commerce Bancshares by 51.1% in the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 192 shares during the period. Capital Performance Advisors LLP bought a new position in shares of Commerce Bancshares during the 3rd quarter worth $39,000. True Wealth Design LLC bought a new position in shares of Commerce Bancshares during the 3rd quarter worth $47,000. V Square Quantitative Management LLC boosted its stake in Commerce Bancshares by 84.0% in the 4th quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 361 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake 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 period. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Stock Up 0.2 %

Shares of NASDAQ:CBSH opened at $64.24 on Wednesday. Commerce Bancshares, Inc. has a 52-week low of $47.89 and a 52-week high of $72.75. The stock has a market cap of $8.24 billion, a P/E ratio of 16.02, a price-to-earnings-growth ratio of 2.13 and a beta of 0.80. The business’s 50 day moving average is $64.67 and its 200 day moving average is $64.47.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 EPS. On average, sell-side analysts anticipate that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be paid a $0.275 dividend. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, March 7th. This represents a $1.10 dividend on an annualized basis and a yield of 1.71%. Commerce Bancshares’s dividend payout ratio (DPR) is 27.43%.

Insider Activity

In other Commerce Bancshares news, CFO Charles G. Kim sold 13,493 shares of the business’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 transaction 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 approximately $5,844,028.96. The trade was a 13.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John W. Kemper sold 26,042 shares of the 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 transaction, the chief executive officer now owns 211,929 shares of the company’s stock, valued at $14,258,583.12. The trade was a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 86,054 shares of company stock valued at $5,771,192 in the last quarter. 3.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

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.