Kavar Capital Partners Group LLC Acquires Shares of 4,184 Commerce Bancshares, Inc. (NASDAQ:CBSH)

Kavar Capital Partners Group LLC bought a new stake in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 4,184 shares of the financial services provider’s stock, valued at approximately $261,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake in Commerce Bancshares by 7.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,396,740 shares of the financial services provider’s stock valued at $142,951,000 after purchasing an additional 163,782 shares during the last quarter. NFJ Investment Group LLC lifted its stake in Commerce Bancshares by 17.7% in the 3rd quarter. NFJ Investment Group LLC now owns 707,168 shares of the financial services provider’s stock worth $42,006,000 after purchasing an additional 106,316 shares in the last quarter. Mutual Advisors LLC boosted its holdings in shares of Commerce Bancshares by 4.8% during the 4th 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. Los Angeles Capital Management LLC grew its position in shares of Commerce Bancshares by 7,407.2% in the third quarter. Los Angeles Capital Management LLC now owns 362,900 shares of the financial services provider’s stock valued at $21,556,000 after purchasing an additional 358,066 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Commerce Bancshares by 168.3% in the second quarter. Millennium Management LLC now owns 342,084 shares of the financial services provider’s stock valued at $19,081,000 after purchasing an additional 214,582 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CBSH shares. Piper Sandler raised their price target on shares of Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, January 13th. Raymond James lowered shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Wells Fargo & Company raised their price target on shares of Commerce Bancshares from $62.00 to $67.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. Finally, Keefe, Bruyette & Woods lifted their target price on Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Seven equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $67.33.

Commerce Bancshares Trading Up 0.4 %

Commerce Bancshares stock opened at $66.00 on Monday. The company has a fifty day simple moving average of $66.55 and a 200-day simple moving average of $63.81. The stock has a market cap of $8.46 billion, a P/E ratio of 16.46, a price-to-earnings-growth ratio of 3.64 and a beta of 0.79. Commerce Bancshares, Inc. has a 12-month low of $47.09 and a 12-month high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last announced 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 company had revenue of $422.10 million during the quarter, compared to the consensus estimate of $417,482 billion. During the same period in the previous year, the business earned $0.84 EPS. Commerce Bancshares’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, sell-side analysts forecast that Commerce Bancshares, Inc. will post 3.73 earnings per share for the current fiscal year.

Insider Activity at Commerce Bancshares

In related news, EVP Kevin G. Barth sold 1,582 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $67.54, for a total value of $106,848.28. Following the completion of the sale, the executive vice president now directly owns 65,409 shares of the company’s stock, valued at $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 is available through the SEC website. Also, SVP Douglas D. Neff sold 888 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $72.10, for a total value of $64,024.80. Following 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 position. The disclosure for this sale can be found here. Insiders sold 9,398 shares of company stock valued at $651,265 over the last three months. 3.20% of the stock is owned by corporate insiders.

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.