Atria Investments Inc Has $1.45 Million Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Atria Investments Inc boosted its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 9.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 24,455 shares of the financial services provider’s stock after acquiring an additional 2,071 shares during the quarter. Atria Investments Inc’s holdings in Commerce Bancshares were worth $1,453,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CBSH. Dimensional Fund Advisors LP increased its position in Commerce Bancshares by 19.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,069,924 shares of the financial services provider’s stock valued at $115,453,000 after buying an additional 342,793 shares in the last quarter. Vanguard Group Inc. increased its position in Commerce Bancshares by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 12,631,645 shares of the financial services provider’s stock valued at $672,004,000 after buying an additional 259,127 shares in the last quarter. American Century Companies Inc. increased its position in Commerce Bancshares by 7.4% in the 2nd quarter. American Century Companies Inc. now owns 3,509,796 shares of the financial services provider’s stock valued at $195,776,000 after buying an additional 240,938 shares in the last quarter. Millennium Management LLC increased its position in Commerce Bancshares by 168.3% in the 2nd quarter. Millennium Management LLC now owns 342,084 shares of the financial services provider’s stock valued at $19,081,000 after buying an additional 214,582 shares in the last quarter. Finally, Boston Trust Walden Corp increased its position in Commerce Bancshares by 15.4% in the 2nd quarter. Boston Trust Walden Corp now owns 1,260,999 shares of the financial services provider’s stock valued at $70,339,000 after buying an additional 168,550 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Commerce Bancshares Price Performance

Shares of CBSH opened at $71.57 on Friday. Commerce Bancshares, Inc. has a one year low of $46.72 and a one year high of $73.31. The company has a 50-day simple moving average of $62.45 and a two-hundred day simple moving average of $59.74. The firm has a market capitalization of $9.18 billion, a PE ratio of 18.64, a price-to-earnings-growth ratio of 3.89 and a beta of 0.73.

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

Commerce Bancshares Dividend Announcement

The company 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 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Tuesday, December 3rd. Commerce Bancshares’s dividend payout ratio (DPR) is currently 28.13%.

Insider Activity at Commerce Bancshares

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CBSH. Morgan Stanley lowered Commerce Bancshares from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $66.00 to $64.00 in a research report on Monday, September 30th. Wells Fargo & Company boosted their price objective on Commerce Bancshares from $52.00 to $62.00 and gave the stock an “equal weight” rating in a report on Monday, July 22nd. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, Piper Sandler set a $68.50 price objective on Commerce Bancshares and gave the company a “neutral” rating in a research note on Friday, October 18th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $61.79.

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.