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

Janney Montgomery Scott LLC lifted its stake in Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 4.8% in the 4th quarter, according to its most recent filing 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 reporting period.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of Commerce Bancshares by 7.3% during the third quarter. Geode Capital Management LLC now owns 2,396,740 shares of the financial services provider's stock valued at $142,951,000 after buying an additional 163,782 shares during the last quarter. NFJ Investment Group LLC lifted its position in Commerce Bancshares by 17.7% during the third quarter. NFJ Investment Group LLC now owns 707,168 shares of the financial services provider's stock valued at $42,006,000 after purchasing an additional 106,316 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in shares of Commerce Bancshares by 7,407.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 362,900 shares of the financial services provider's stock worth $21,556,000 after buying an additional 358,066 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Commerce Bancshares by 168.3% in the 2nd quarter. Millennium Management LLC now owns 342,084 shares of the financial services provider's stock worth $19,081,000 after buying an additional 214,582 shares during the last quarter. Finally, UMB Bank n.a. raised its position in shares of Commerce Bancshares by 4.0% during the 4th quarter. UMB Bank n.a. now owns 261,234 shares of the financial services provider's stock valued at $16,278,000 after buying an additional 10,000 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 500 shares of the company's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $68.55, for a total value of $34,275.00. Following the sale, the senior vice president now owns 22,265 shares of the company's stock, valued at $1,526,265.75. This represents a 2.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP David L. Roller sold 890 shares of Commerce Bancshares 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 sale, the senior vice president now owns 30,949 shares of the company's stock, valued at approximately $2,236,684.23. This represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,398 shares of company stock valued at $651,265 over the last three months. 3.20% of the stock is currently owned by company insiders.

Commerce Bancshares Price Performance

Shares of CBSH traded up $0.24 during mid-day trading on Friday, reaching $66.00. The company's stock had a trading volume of 609,582 shares, compared to its average volume of 424,059. The stock has a market cap 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 12-month low of $47.09 and a 12-month high of $72.75. The company's 50 day moving average is $66.55 and its 200 day moving average is $63.81.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.95 by $0.06. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The firm had revenue of $422.10 million for the quarter, compared to analyst estimates of $417,482 billion. During the same period last year, the business earned $0.84 EPS. Commerce Bancshares's revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Commerce Bancshares, Inc. will post 3.73 EPS for the current fiscal year.

Analysts Set New Price Targets

CBSH has been the subject of a number of research analyst reports. Wells Fargo & Company raised their price target on Commerce Bancshares from $62.00 to $67.00 and gave the stock an "equal weight" rating in a research note 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. Keefe, Bruyette & Woods lifted their target price 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. StockNews.com upgraded shares of Commerce Bancshares from a "sell" rating to a "hold" rating in a research note on Monday, January 13th. Finally, Piper Sandler lifted their price objective on shares of Commerce Bancshares from $69.00 to $72.00 and gave the stock a "neutral" rating in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target 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.