Janney Montgomery Scott LLC Purchases 12,905 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH)

Janney Montgomery Scott LLC lifted its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) by 4.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 280,842 shares of the financial services provider’s stock after purchasing an additional 12,905 shares during the period. Janney Montgomery Scott LLC owned 0.22% of Commerce Bancshares worth $17,499,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sound Stewardship LLC lifted its position in shares of Commerce Bancshares by 3.9% during the 3rd quarter. Sound Stewardship LLC now owns 4,339 shares of the financial services provider’s stock worth $258,000 after buying an additional 163 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its holdings in Commerce Bancshares by 4.9% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 3,908 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 183 shares during the period. GAMMA Investing LLC boosted its position in Commerce Bancshares by 19.6% in the fourth quarter. GAMMA Investing LLC now owns 1,139 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 187 shares during the last quarter. Wealthcare Advisory Partners LLC grew its stake in Commerce Bancshares by 5.3% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 3,727 shares of the financial services provider’s stock valued at $232,000 after purchasing an additional 187 shares during the period. Finally, Allworth Financial LP increased its position in shares of Commerce Bancshares by 51.1% during the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 192 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Kevin G. Barth sold 1,582 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $67.54, for a total value of $106,848.28. Following the sale, the executive vice president now 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP David L. Roller sold 890 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $72.27, for a total value of $64,320.30. Following the transaction, the senior vice president now 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,398 shares of company stock worth $651,265. 3.20% of the stock is owned by company insiders.

Commerce Bancshares Price Performance

NASDAQ:CBSH opened at $66.00 on Friday. The company has a market cap 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 stock’s fifty day moving average price is $66.55 and its two-hundred day moving average price is $63.76.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data 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. The business 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 quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 EPS. On average, analysts expect that Commerce Bancshares, Inc. will post 3.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CBSH has been the subject of several research reports. Piper Sandler increased their price target on shares of Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a research report on Thursday. Keefe, Bruyette & Woods raised their price target on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. 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 report on Tuesday, December 3rd. Raymond James lowered Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Finally, Morgan Stanley cut Commerce Bancshares from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $66.00 to $64.00 in a research report on Monday, September 30th. Seven investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $67.33.

Commerce Bancshares 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.