Verde Capital Management Has $223,000 Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Verde Capital Management raised its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,573 shares of the financial services provider’s stock after acquiring an additional 183 shares during the quarter. 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 and other institutional investors have also bought and sold shares of the company. Virtu Financial LLC acquired a new stake in shares of Commerce Bancshares during the 3rd quarter worth approximately $566,000. Procyon Advisors LLC purchased a new position in Commerce Bancshares during the 4th quarter valued at about $200,000. Centiva Capital LP bought a new stake in Commerce Bancshares during the third quarter valued at $581,000. PFW Advisors LLC purchased a new position in Commerce Bancshares in the 4th quarter worth approximately $1,336,000. Finally, Barclays PLC increased its position in shares of Commerce Bancshares by 19.4% during the 3rd quarter. Barclays PLC now owns 106,934 shares of the financial services provider’s stock valued at $6,353,000 after purchasing an additional 17,400 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Stock Performance

NASDAQ CBSH opened at $65.76 on Friday. Commerce Bancshares, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $72.75. The stock has a 50-day simple moving average of $66.66 and a two-hundred day simple moving average of $63.63. The firm has a market capitalization of $8.43 billion, a P/E ratio of 16.40, a PEG ratio of 3.64 and a beta of 0.79.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The firm 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 posted $0.84 earnings per share. The business’s revenue was up 7.3% on a year-over-year basis. As a group, analysts forecast that Commerce Bancshares, Inc. will post 3.73 earnings per share for the current year.

Insiders Place Their Bets

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, Chairman David W. Kemper sold 4,500 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was 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 in the company, valued at $1,642,244.50. The trade was a 15.94 % decrease in their ownership of the stock. 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 quarter. 3.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Raymond James lowered Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Piper Sandler upped their target price on Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday. 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. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Wells Fargo & Company increased their price objective on Commerce Bancshares from $62.00 to $67.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $67.33.

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.