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

Cornerstone Wealth Management LLC lifted its holdings in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 6.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,186 shares of the financial services provider’s stock after purchasing an additional 910 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Commerce Bancshares were worth $946,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Verde Capital Management boosted its holdings in shares of Commerce Bancshares by 5.4% during the fourth quarter. Verde Capital Management now owns 3,573 shares of the financial services provider’s stock worth $223,000 after purchasing an additional 183 shares during the last quarter. Mutual Advisors LLC boosted its holdings in shares of Commerce Bancshares by 4.8% during the fourth quarter. Mutual Advisors LLC now owns 474,189 shares of the financial services provider’s stock worth $30,244,000 after purchasing an additional 21,922 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Commerce Bancshares by 4.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 280,842 shares of the financial services provider’s stock worth $17,499,000 after purchasing an additional 12,905 shares during the last quarter. Missouri Trust & Investment Co boosted its holdings in shares of Commerce Bancshares by 5.0% during the fourth quarter. Missouri Trust & Investment Co now owns 4,449 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 211 shares during the last quarter. Finally, XML Financial LLC purchased a new position in shares of Commerce Bancshares in the 4th quarter worth $216,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

CBSH has been the topic of several research reports. Keefe, Bruyette & Woods increased their target price on Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, January 13th. Piper Sandler increased their target price on Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday. Raymond James lowered Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Finally, Wells Fargo & Company increased their target price on Commerce Bancshares from $62.00 to $67.00 and gave the stock 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, the stock has an average rating of “Hold” and a consensus price target of $67.33.

Insider Transactions at Commerce Bancshares

In related news, SVP Douglas D. Neff sold 888 shares of Commerce Bancshares stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $72.10, for a total value of $64,024.80. Following the completion of the transaction, the senior vice president now directly owns 8,038 shares in the company, valued at approximately $579,539.80. This trade represents a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Patricia R. Kellerhals sold 500 shares of Commerce Bancshares stock in a transaction dated Monday, December 9th. The stock was 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 owns 22,265 shares of the company’s stock, valued at $1,526,265.75. This trade represents a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,398 shares of company stock valued at $651,265. 3.20% of the stock is currently owned by insiders.

Commerce Bancshares Price Performance

NASDAQ:CBSH opened at $66.00 on Friday. The business’s 50-day moving average is $66.55 and its two-hundred day moving average is $63.71. Commerce Bancshares, Inc. has a 12 month low of $47.09 and a 12 month high of $72.75. The firm has a market capitalization of $8.46 billion, a PE ratio of 16.46, a price-to-earnings-growth 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 EPS for the quarter, beating the consensus estimate of $0.95 by $0.06. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The company had revenue of $422.10 million for the quarter, compared to analyst estimates of $417,482 billion. During the same period last year, the company posted $0.84 earnings per share. The firm’s revenue was up 7.3% compared to the same quarter last year. Equities analysts anticipate 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.