3,468 Shares in Commerce Bancshares, Inc. (NASDAQ:CBSH) Purchased by XML Financial LLC

XML Financial LLC acquired a new stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,468 shares of the financial services provider’s stock, valued at approximately $216,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CBSH. V Square Quantitative Management LLC acquired a new stake in Commerce Bancshares in the 3rd quarter valued at $26,000. Allworth Financial LP grew its position in shares of Commerce Bancshares by 51.1% in the third 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 purchased a new stake in shares of Commerce Bancshares during the third quarter worth about $39,000. True Wealth Design LLC acquired a new position in shares of Commerce Bancshares during the 3rd quarter worth about $47,000. Finally, Farther Finance Advisors LLC raised its position in shares of Commerce Bancshares by 48.2% during 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 last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Commerce Bancshares Stock Up 0.2 %

Shares of CBSH opened at $65.76 on Friday. Commerce Bancshares, Inc. has a 52-week low of $47.09 and a 52-week high of $72.75. The stock has a fifty day simple moving average of $66.66 and a two-hundred day simple moving average of $63.63. The company has a market capitalization of $8.43 billion, a PE ratio of 17.13, a price-to-earnings-growth ratio of 3.63 and a beta of 0.79.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. The company had revenue of $422.10 million for the quarter, compared to the consensus estimate of $417,482 billion. 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% compared to the same quarter last year. As a group, equities analysts anticipate that Commerce Bancshares, Inc. will post 3.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CBSH has been the subject of several research reports. Raymond James lowered Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Morgan Stanley cut Commerce Bancshares from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $66.00 to $64.00 in a research report on Monday, September 30th. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Keefe, Bruyette & Woods upped their target price on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Piper Sandler raised their price target on shares of Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $67.33.

Insider Activity at Commerce Bancshares

In related news, SVP Douglas D. Neff sold 888 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $72.10, for a total value of $64,024.80. Following the sale, the senior vice president now directly owns 8,038 shares in the company, valued at approximately $579,539.80. The trade was a 9.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP David L. Roller sold 890 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $72.27, for a total transaction of $64,320.30. Following the transaction, the senior vice president now directly owns 30,949 shares of the company’s stock, valued at approximately $2,236,684.23. This trade represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,398 shares of company stock worth $651,265. Insiders own 3.20% of the company’s stock.

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.