Marshall Financial Group LLC Buys 965 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Marshall Financial Group LLC raised its stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,222 shares of the financial services provider’s stock after acquiring an additional 965 shares during the period. Marshall Financial Group LLC’s holdings in Commerce Bancshares were worth $1,198,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in Commerce Bancshares during the third quarter worth about $566,000. Procyon Advisors LLC bought a new position in shares of Commerce Bancshares during the 4th quarter worth approximately $200,000. Centiva Capital LP purchased a new position in shares of Commerce Bancshares in the 3rd quarter worth approximately $581,000. PFW Advisors LLC bought a new position in shares of Commerce Bancshares in the fourth quarter valued at approximately $1,336,000. Finally, Barclays PLC increased its position in shares of Commerce Bancshares by 19.4% during the third quarter. Barclays PLC now owns 106,934 shares of the financial services provider’s stock valued at $6,353,000 after acquiring an additional 17,400 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Commerce Bancshares

In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 500 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $68.55, for a total value of $34,275.00. Following the completion of the transaction, the senior vice president now directly owns 22,265 shares of the company’s stock, valued at $1,526,265.75. This trade represents a 2.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman David W. Kemper sold 4,500 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $69.22, for a total transaction of $311,490.00. Following the transaction, the chairman now owns 23,725 shares of the company’s stock, valued at $1,642,244.50. This trade represents a 15.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,398 shares of company stock worth $651,265. 3.20% of the stock is owned by company insiders.

Commerce Bancshares Stock Up 0.4 %

CBSH opened at $66.00 on Friday. The firm has a 50-day moving average price of $66.55 and a 200-day moving average price of $63.76. Commerce Bancshares, Inc. has a twelve month low of $47.09 and a twelve month high of $72.75. The company has a market capitalization of $8.46 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 3.64 and a beta of 0.79.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. The business had revenue of $422.10 million during the quarter, compared to analyst estimates of $417,482 billion. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. Commerce Bancshares’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.84 EPS. On average, sell-side analysts expect that Commerce Bancshares, Inc. will post 3.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Raymond James cut Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods boosted their price target 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. 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. Piper Sandler boosted their target price on shares of Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Morgan Stanley lowered shares of 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 research note on Monday, September 30th. Seven equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $67.33.

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.