Marshall Financial Group LLC Increases Stock Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

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

Other institutional investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in Commerce Bancshares in the third quarter worth $26,000. Allworth Financial LP lifted 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 worth $34,000 after purchasing an additional 192 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Commerce Bancshares in the 3rd quarter worth about $39,000. True Wealth Design LLC bought a new position in shares of Commerce Bancshares during the 3rd quarter valued at about $47,000. Finally, Farther Finance Advisors LLC increased its position in shares of 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 purchasing an additional 287 shares during the last quarter. Institutional investors 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 value of $106,848.28. Following the completion of the transaction, the executive vice president now directly owns 65,409 shares in the company, valued at approximately $4,417,723.86. This represents a 2.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP David L. Roller sold 890 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $72.27, for a total transaction of $64,320.30. Following the completion of the sale, the senior vice president now directly owns 30,949 shares of the company’s stock, valued at approximately $2,236,684.23. This represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,398 shares of company stock valued at $651,265 in the last 90 days. Insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Piper Sandler upped their target price on Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Keefe, Bruyette & Woods lifted their target price 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. Morgan Stanley downgraded shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $66.00 to $64.00 in a research note on Monday, September 30th. Finally, Raymond James cut Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Seven investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Commerce Bancshares has an average rating of “Hold” and an average target price of $67.33.

Commerce Bancshares Stock Up 0.4 %

Shares of 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 PEG ratio of 3.64 and a beta of 0.79. Commerce Bancshares, Inc. has a twelve month low of $47.09 and a twelve month high of $72.75. The firm has a fifty day simple moving average of $66.55 and a two-hundred day simple moving average of $63.76.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, beating 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 company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 earnings per share. Sell-side analysts expect that Commerce Bancshares, Inc. will post 3.73 EPS 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.