Commerce Bancshares, Inc. (NASDAQ:CBSH) Shares Bought by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC raised its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 6.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,186 shares of the financial services provider’s stock after acquiring an additional 910 shares during the period. Cornerstone Wealth Management LLC’s holdings in Commerce Bancshares were worth $946,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CBSH. V Square Quantitative Management LLC bought a new stake in shares of Commerce Bancshares during the third quarter valued at approximately $26,000. Allworth Financial LP raised its holdings in shares of 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 during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Commerce Bancshares during the third quarter valued at approximately $39,000. True Wealth Design LLC bought a new stake in shares of Commerce Bancshares during the third quarter valued at approximately $47,000. Finally, Farther Finance Advisors LLC raised its holdings in shares of Commerce Bancshares by 48.2% during the third 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 last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Commerce Bancshares Stock Performance

NASDAQ CBSH opened at $66.00 on Friday. The stock has a market capitalization of $8.46 billion, a P/E ratio of 16.46, a P/E/G ratio of 3.64 and a beta of 0.79. Commerce Bancshares, Inc. has a 1 year low of $47.09 and a 1 year high of $72.75. The business’s fifty day moving average is $66.55 and its two-hundred day moving average is $63.71.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.06. The company had revenue of $422.10 million for the quarter, compared to analysts’ expectations of $417,482 billion. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.84 earnings per share. On average, research analysts forecast that Commerce Bancshares, Inc. will post 3.73 earnings per share for the current year.

Insider Buying and Selling 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 transaction of $64,320.30. Following the sale, the senior vice president now directly owns 30,949 shares of the company’s stock, valued at $2,236,684.23. The trade was a 2.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kevin G. Barth sold 1,582 shares of the business’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 sale, the executive vice president now directly owns 65,409 shares in the company, valued at approximately $4,417,723.86. This trade represents a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,398 shares of company stock valued at $651,265. Corporate insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CBSH. Morgan Stanley cut 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. Raymond James cut Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Piper Sandler boosted their target price on Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday. Keefe, Bruyette & Woods boosted their target price on Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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.