Atria Investments Inc Purchases 2,071 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Atria Investments Inc increased its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 9.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,455 shares of the financial services provider’s stock after acquiring an additional 2,071 shares during the period. Atria Investments Inc’s holdings in Commerce Bancshares were worth $1,453,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in Commerce Bancshares during the third quarter worth about $26,000. Allworth Financial LP raised its holdings in Commerce Bancshares by 51.1% during the third 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 Commerce Bancshares during the third quarter worth about $39,000. Bessemer Group Inc. raised its holdings in Commerce Bancshares by 86.3% during the first quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 390 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Commerce Bancshares by 156.5% during the second quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 521 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Trading Down 0.2 %

Commerce Bancshares stock opened at $71.57 on Friday. Commerce Bancshares, Inc. has a 12 month low of $46.72 and a 12 month high of $73.31. The stock’s 50 day moving average is $62.45 and its 200-day moving average is $59.74. The company has a market capitalization of $9.18 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 3.89 and a beta of 0.73.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. The business had revenue of $421.38 million for the quarter, compared to the consensus estimate of $412.85 million. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. As a group, equities research analysts predict that Commerce Bancshares, Inc. will post 4.02 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Tuesday, December 3rd. Commerce Bancshares’s dividend payout ratio is currently 28.13%.

Insider Buying and Selling

In other Commerce Bancshares news, Chairman David W. Kemper sold 30,000 shares of the company’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $61.78, for a total transaction of $1,853,400.00. Following the completion of the sale, the chairman now directly owns 1,151,994 shares in the company, valued at $71,170,189.32. This represents a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Douglas D. Neff sold 888 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $72.10, for a total value of $64,024.80. Following the completion of the transaction, the senior vice president now owns 8,038 shares of the company’s stock, valued at $579,539.80. The trade was a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,219 shares of company stock valued at $2,126,803 over the last 90 days. 3.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on CBSH shares. Piper Sandler set a $68.50 target price on Commerce Bancshares and gave the stock a “neutral” rating in a report on Friday, October 18th. Wells Fargo & Company upped their price objective on Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Morgan Stanley lowered Commerce Bancshares from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $66.00 to $64.00 in a research note on Monday, September 30th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $61.79.

About Commerce Bancshares

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.