Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Purchased by Verde Capital Management

Verde Capital Management raised its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,573 shares of the financial services provider’s stock after purchasing an additional 183 shares during the period. Verde Capital Management’s holdings in Commerce Bancshares were worth $223,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. V Square Quantitative Management LLC bought a new stake in shares of Commerce Bancshares during the 3rd quarter valued at about $26,000. Allworth Financial LP boosted its stake in Commerce Bancshares by 51.1% during the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after buying an additional 192 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Commerce Bancshares in the third quarter worth approximately $39,000. True Wealth Design LLC acquired a new stake in Commerce Bancshares during the 3rd quarter worth about $47,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Commerce Bancshares by 48.2% in the third quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 287 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, EVP Kevin G. Barth sold 1,582 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $67.54, for a total transaction of $106,848.28. Following the transaction, the executive vice president now owns 65,409 shares in the company, valued at approximately $4,417,723.86. This represents a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman David W. Kemper sold 4,500 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $69.22, for a total transaction of $311,490.00. Following the completion of the sale, the chairman now owns 23,725 shares of the company’s stock, valued at approximately $1,642,244.50. This represents a 15.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,398 shares of company stock worth $651,265 over the last three months. Corporate insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Wells Fargo & Company lifted 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. Raymond James cut shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Morgan Stanley lowered Commerce Bancshares from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $66.00 to $64.00 in a report on Monday, September 30th. Keefe, Bruyette & Woods increased their price target on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Commerce Bancshares currently has an average rating of “Hold” and an average target price of $67.33.

Commerce Bancshares Trading Up 0.2 %

Commerce Bancshares stock opened at $65.76 on Friday. Commerce Bancshares, Inc. has a 1-year low of $47.09 and a 1-year high of $72.75. The company has a market cap of $8.43 billion, a P/E ratio of 16.40, a price-to-earnings-growth ratio of 3.64 and a beta of 0.79. The company has a fifty day simple moving average of $66.66 and a 200 day simple moving average of $63.63.

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. The firm had revenue of $422.10 million during the quarter, compared to the consensus estimate of $417,482 billion. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the business posted $0.84 earnings per share. On average, equities research analysts forecast that Commerce Bancshares, Inc. will post 3.73 EPS for the current year.

About Commerce Bancshares

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.