Centerpoint Advisory Group Makes New $293,000 Investment in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Centerpoint Advisory Group purchased a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,704 shares of the financial services provider's stock, valued at approximately $293,000.

A number of other institutional investors also recently made changes to their positions in the stock. V Square Quantitative Management LLC acquired a new stake in Commerce Bancshares in the third quarter worth approximately $26,000. Allworth Financial LP raised its stake in shares of Commerce Bancshares by 51.1% in the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider's stock worth $34,000 after buying an additional 192 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Commerce Bancshares in the third quarter valued at $39,000. True Wealth Design LLC bought a new position in Commerce Bancshares during the third quarter valued at about $47,000. Finally, Farther Finance Advisors LLC grew its holdings in Commerce Bancshares by 48.2% during the third 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 during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Patricia R. Kellerhals sold 500 shares of Commerce Bancshares stock in a transaction on Monday, December 9th. The stock was sold at an average price of $68.55, for a total transaction of $34,275.00. Following the completion of the sale, the senior vice president now owns 22,265 shares of the company's stock, valued at approximately $1,526,265.75. This trade represents a 2.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman David W. Kemper sold 4,500 shares of Commerce Bancshares stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $69.22, for a total value of $311,490.00. Following the sale, the chairman now owns 23,725 shares of the company's stock, valued at approximately $1,642,244.50. This represents a 15.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 86,054 shares of company stock worth $5,771,192. 3.10% of the stock is owned by company insiders.

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Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CBSH. Keefe, Bruyette & Woods upped their price target on shares of Commerce Bancshares from $66.00 to $78.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. Raymond James cut Commerce Bancshares from an "outperform" rating to a "market perform" rating in a report on Thursday, December 19th. Wells Fargo & Company raised their price objective 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. Piper Sandler boosted 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. Finally, StockNews.com raised Commerce Bancshares from a "sell" rating to a "hold" rating in a report on Monday, January 13th. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $67.83.

Commerce Bancshares Trading Down 1.0 %

NASDAQ:CBSH traded down $0.69 during trading hours on Wednesday, hitting $65.91. 382,405 shares of the stock traded hands, compared to its average volume of 521,241. The firm has a 50 day moving average price of $64.92 and a 200 day moving average price of $64.32. The firm has a market cap of $8.45 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 2.17 and a beta of 0.80. Commerce Bancshares, Inc. has a fifty-two week low of $47.89 and a fifty-two week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, beating 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 firm had revenue of $422.10 million for the quarter, compared to analyst estimates of $417.48 million. During the same period in the previous year, the firm earned $0.84 earnings per share. Commerce Bancshares's quarterly revenue was up 7.3% on a year-over-year basis. Research analysts predict that Commerce Bancshares, Inc. will post 3.92 EPS for the current year.

Commerce Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.67%. 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 is 26.93%.

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.