XML Financial LLC Purchases Shares of 3,468 Commerce Bancshares, Inc. (NASDAQ:CBSH)

XML Financial LLC acquired a new position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,468 shares of the financial services provider’s stock, valued at approximately $216,000.

Other hedge funds have also modified their holdings of the company. Los Angeles Capital Management LLC raised its holdings in Commerce Bancshares by 7,407.2% in the third quarter. Los Angeles Capital Management LLC now owns 362,900 shares of the financial services provider’s stock valued at $21,556,000 after acquiring an additional 358,066 shares in the last quarter. Millennium Management LLC raised its holdings in shares of 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 purchasing an additional 214,582 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Commerce Bancshares by 7.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,396,740 shares of the financial services provider’s stock worth $142,951,000 after purchasing an additional 163,782 shares during the last quarter. NFJ Investment Group LLC grew its stake in shares of Commerce Bancshares by 17.7% during the third quarter. NFJ Investment Group LLC now owns 707,168 shares of the financial services provider’s stock worth $42,006,000 after purchasing an additional 106,316 shares in the last quarter. Finally, Zacks Investment Management purchased a new position in Commerce Bancshares in the third quarter valued at $6,087,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Commerce Bancshares Trading Up 0.2 %

CBSH stock opened at $65.76 on Friday. The business has a 50 day simple moving average of $66.66 and a 200-day simple moving average of $63.63. The company has a market capitalization of $8.43 billion, a P/E ratio of 17.13, a PEG ratio of 3.63 and a beta of 0.79. Commerce Bancshares, Inc. has a twelve month low of $47.09 and a twelve month high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the firm posted $0.84 EPS. Commerce Bancshares’s revenue for the quarter was up 7.3% on a year-over-year basis. Research analysts predict that Commerce Bancshares, Inc. will post 3.91 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Morgan Stanley downgraded Commerce Bancshares from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $66.00 to $64.00 in a report on Monday, September 30th. Raymond James lowered Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods upped their price target on Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Wells Fargo & Company raised their price objective on shares of Commerce Bancshares from $62.00 to $67.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. Finally, Piper Sandler upped their target price on shares of Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday. Seven analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $67.33.

Insider Activity at Commerce Bancshares

In other Commerce Bancshares news, SVP David L. Roller sold 890 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $72.27, for a total value 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. The trade was a 2.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Douglas D. Neff sold 888 shares of the firm’s 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 completion of the sale, the senior vice president now owns 8,038 shares of the company’s stock, valued at $579,539.80. This trade represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,398 shares of company stock worth $651,265 in the last quarter. Company 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.