Sound Stewardship LLC Acquires 216 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Sound Stewardship LLC raised its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,555 shares of the financial services provider’s stock after purchasing an additional 216 shares during the quarter. Sound Stewardship LLC’s holdings in Commerce Bancshares were worth $284,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. V Square Quantitative Management LLC bought a new position in shares of Commerce Bancshares in the 3rd quarter valued at about $26,000. Allworth Financial LP lifted 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 valued at $34,000 after purchasing an additional 192 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of Commerce Bancshares during the 3rd quarter valued at approximately $39,000. True Wealth Design LLC bought a new position in shares of Commerce Bancshares during the 3rd quarter valued at approximately $47,000. Finally, Farther Finance Advisors LLC raised its holdings in Commerce Bancshares by 48.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock valued at $52,000 after buying an additional 287 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CBSH. Morgan Stanley downgraded shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $66.00 to $64.00 in a report on Monday, September 30th. Piper Sandler raised their price target on Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Raymond James downgraded Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Wells Fargo & Company boosted their target price on shares of Commerce Bancshares from $62.00 to $67.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. Finally, StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Seven analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $67.33.

Insider Buying and Selling

In related news, Chairman David W. Kemper sold 4,500 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $69.22, for a total value of $311,490.00. Following the transaction, the chairman now directly owns 23,725 shares of the company’s stock, valued at $1,642,244.50. This represents a 15.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kevin G. Barth sold 1,582 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $67.54, for a total value of $106,848.28. Following the completion of the transaction, the executive vice president now owns 65,409 shares of the company’s stock, valued at $4,417,723.86. This trade represents a 2.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,398 shares of company stock worth $651,265 in the last ninety days. 3.20% of the stock is owned by insiders.

Commerce Bancshares Stock Performance

NASDAQ CBSH opened at $66.94 on Tuesday. Commerce Bancshares, Inc. has a one year low of $47.09 and a one year high of $72.75. The company has a market capitalization of $8.58 billion, a price-to-earnings ratio of 16.69, a price-to-earnings-growth ratio of 3.64 and a beta of 0.79. The company’s 50-day simple moving average is $66.44 and its two-hundred day simple moving average is $63.87.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results 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 25.24% and a return on equity of 16.31%. The business had revenue of $422.10 million for the quarter, compared to analyst estimates of $417,482 billion. During the same period in the previous year, the company earned $0.84 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. Equities analysts expect that Commerce Bancshares, Inc. will post 3.73 earnings per share for the current fiscal year.

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.