Crossmark Global Holdings Inc. Grows Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Crossmark Global Holdings Inc. lifted its holdings in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 4.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,972 shares of the financial services provider’s stock after buying an additional 367 shares during the period. Crossmark Global Holdings Inc.’s holdings in Commerce Bancshares were worth $497,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. V Square Quantitative Management LLC purchased a new position in Commerce Bancshares in the 3rd quarter worth approximately $26,000. Allworth Financial LP increased its holdings in shares of Commerce Bancshares by 51.1% in the third 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. Capital Performance Advisors LLP purchased a new position in Commerce Bancshares during the third quarter worth approximately $39,000. True Wealth Design LLC acquired a new position in Commerce Bancshares during the third quarter worth $47,000. Finally, Farther Finance Advisors LLC grew its holdings in Commerce Bancshares by 48.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock valued at $52,000 after buying an additional 287 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Commerce Bancshares Stock Performance

Commerce Bancshares stock opened at $66.00 on Monday. The company 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, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $72.75. The firm has a 50 day moving average price of $66.55 and a 200 day moving average price of $63.81.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, beating 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 business had revenue of $422.10 million during the quarter, compared to analysts’ expectations of $417,482 billion. During the same period in the previous year, the firm posted $0.84 earnings per share. The company’s revenue was up 7.3% on a year-over-year basis. As a group, equities research analysts forecast that Commerce Bancshares, Inc. will post 3.73 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Kevin G. Barth sold 1,582 shares of Commerce Bancshares 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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed 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 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 have sold 9,398 shares of company stock worth $651,265 over the last three months. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on CBSH shares. Morgan Stanley lowered Commerce Bancshares from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $66.00 to $64.00 in a report on Monday, September 30th. Raymond James lowered shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Wells Fargo & Company increased 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 note on Tuesday, December 3rd. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Piper Sandler increased their price objective on Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $67.33.

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.