32,900 Shares in Commerce Bancshares, Inc. (NASDAQ:CBSH) Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC purchased a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 32,900 shares of the financial services provider's stock, valued at approximately $2,050,000.

Other large investors have also recently bought and sold shares of the company. Atria Wealth Solutions Inc. raised its position in shares of Commerce Bancshares by 1.5% during the 4th quarter. Atria Wealth Solutions Inc. now owns 11,062 shares of the financial services provider's stock valued at $689,000 after buying an additional 166 shares in the last quarter. Apriem Advisors raised its position in shares of Commerce Bancshares by 5.0% during the 4th quarter. Apriem Advisors now owns 3,827 shares of the financial services provider's stock valued at $238,000 after buying an additional 182 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its position in shares of Commerce Bancshares by 4.9% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 3,908 shares of the financial services provider's stock valued at $244,000 after buying an additional 183 shares in the last quarter. Verde Capital Management raised its position in shares of Commerce Bancshares by 5.4% during the 4th quarter. Verde Capital Management now owns 3,573 shares of the financial services provider's stock valued at $223,000 after buying an additional 183 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Commerce Bancshares by 19.6% during the 4th quarter. GAMMA Investing LLC now owns 1,139 shares of the financial services provider's stock valued at $71,000 after buying an additional 187 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Insider Activity at Commerce Bancshares

In related news, EVP Kevin G. Barth sold 24,870 shares of the business's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $66.06, for a total transaction of $1,642,912.20. Following the transaction, the executive vice president now owns 45,511 shares in the company, valued at $3,006,456.66. The trade was a 35.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Charles G. Kim sold 13,493 shares of the business's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $67.76, for a total transaction of $914,285.68. Following the transaction, the chief financial officer now owns 86,246 shares in the company, valued at $5,844,028.96. This represents a 13.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 78,434 shares of company stock worth $5,248,272 over the last 90 days. 3.20% of the stock is owned by company insiders.

Commerce Bancshares Trading Down 0.3 %

Shares of CBSH stock traded down $0.20 during mid-day trading on Friday, reaching $61.24. The stock had a trading volume of 2,949,223 shares, compared to its average volume of 556,278. The stock's 50-day moving average price is $64.42 and its two-hundred day moving average price is $64.42. Commerce Bancshares, Inc. has a 52-week low of $48.49 and a 52-week high of $72.75. The firm has a market capitalization of $8.21 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 2.13 and a beta of 0.78.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) 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. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The firm had revenue of $422.10 million for the quarter, compared to analysts' expectations of $417.48 million. During the same quarter in the previous year, the company earned $0.84 earnings per share. The company's revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities research analysts forecast that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be given a dividend of $0.275 per share. The ex-dividend date is Friday, March 7th. This represents a $1.10 annualized dividend and a dividend yield of 1.80%. This is a boost from Commerce Bancshares's previous quarterly dividend of $0.27. Commerce Bancshares's payout ratio is currently 27.43%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Raymond James cut shares of Commerce Bancshares from an "outperform" rating to a "market perform" rating in a research report on Thursday, December 19th. StockNews.com upgraded shares of Commerce Bancshares from a "sell" rating to a "hold" rating in a research report on Monday, January 13th. Morgan Stanley decreased their target price on shares of Commerce Bancshares from $72.00 to $66.00 and set an "underweight" rating on the stock in a research report on Thursday, March 13th. Wells Fargo & Company lifted their target price on shares of Commerce Bancshares from $67.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Wednesday, January 29th. Finally, Piper Sandler lifted their target price on shares of Commerce Bancshares from $69.00 to $72.00 and gave the stock a "neutral" rating in a research report on Thursday, January 23rd. One analyst has rated the stock with a sell rating and six have given a hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $68.17.

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.