Moloney Securities Asset Management LLC Has $221,000 Stock Holdings in Commerce Bancshares, Inc. $CBSH

Moloney Securities Asset Management LLC increased its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 9.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,561 shares of the financial services provider’s stock after buying an additional 294 shares during the period. Moloney Securities Asset Management LLC’s holdings in Commerce Bancshares were worth $221,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. First Citizens Bank & Trust Co. acquired a new stake in shares of Commerce Bancshares in the 2nd quarter valued at about $226,000. Ethic Inc. grew its stake in shares of Commerce Bancshares by 30.6% in the 2nd quarter. Ethic Inc. now owns 18,469 shares of the financial services provider’s stock valued at $1,147,000 after buying an additional 4,331 shares during the period. Caliber Wealth Management LLC KS acquired a new stake in shares of Commerce Bancshares in the 2nd quarter valued at about $617,000. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Commerce Bancshares in the 2nd quarter valued at about $46,000. Finally, Chicago Partners Investment Group LLC grew its stake in shares of Commerce Bancshares by 47.8% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 7,413 shares of the financial services provider’s stock valued at $465,000 after buying an additional 2,399 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Commerce Bancshares Stock Up 0.1%

Commerce Bancshares stock opened at $53.19 on Monday. Commerce Bancshares, Inc. has a 52 week low of $52.11 and a 52 week high of $72.75. The company’s 50 day moving average price is $59.17 and its two-hundred day moving average price is $61.17. The stock has a market cap of $7.10 billion, a P/E ratio of 12.69, a P/E/G ratio of 4.80 and a beta of 0.59.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, October 16th. The financial services provider reported $1.06 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.03). Commerce Bancshares had a return on equity of 15.73% and a net margin of 26.48%.The firm had revenue of $440.97 million for the quarter, compared to the consensus estimate of $447.04 million. During the same period in the prior year, the business earned $1.07 EPS. Commerce Bancshares’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities analysts anticipate that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Piper Sandler reduced their target price on Commerce Bancshares from $70.00 to $63.00 and set a “neutral” rating for the company in a research note on Friday, October 17th. Keefe, Bruyette & Woods cut their price target on Commerce Bancshares from $65.00 to $60.00 and set a “market perform” rating for the company in a research note on Friday, October 17th. Wells Fargo & Company cut their price target on Commerce Bancshares from $65.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 21st. Hovde Group initiated coverage on Commerce Bancshares in a research note on Monday, October 6th. They set an “outperform” rating and a $70.00 price target for the company. Finally, Wall Street Zen downgraded Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $65.29.

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.