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 Commerce Bancshares, Inc. (NASDAQ:CBSH) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,184 shares of the financial services provider’s stock, valued at approximately $261,000.

Several other large investors have also modified their holdings of CBSH. V Square Quantitative Management LLC acquired a new position in Commerce Bancshares in the 3rd quarter valued at $26,000. Allworth Financial LP boosted 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 acquiring an additional 192 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Commerce Bancshares during the third quarter worth about $39,000. True Wealth Design LLC purchased a new stake in Commerce Bancshares in the 3rd quarter valued at approximately $47,000. Finally, Farther Finance Advisors LLC increased its position in Commerce Bancshares by 48.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 287 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Price Performance

Shares of Commerce Bancshares stock opened at $66.00 on Monday. The business has a 50 day moving average price of $66.55 and a 200 day moving average price of $63.81. The company has a market capitalization 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.

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, beating the consensus estimate of $0.95 by $0.06. The business had revenue of $422.10 million for the quarter, compared to the consensus estimate of $417,482 billion. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The business’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.84 earnings per share. As a group, research analysts expect that Commerce Bancshares, Inc. will post 3.73 EPS for the current fiscal year.

Insider Buying and Selling at Commerce Bancshares

In other news, SVP David L. Roller sold 890 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $72.27, for a total value of $64,320.30. Following the completion of the transaction, the senior vice president now owns 30,949 shares of the company’s stock, valued at $2,236,684.23. The trade was a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kevin G. Barth sold 1,582 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $67.54, for a total transaction 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,398 shares of company stock worth $651,265. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CBSH. Piper Sandler lifted their price target on Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday. 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 report on Tuesday, December 3rd. Keefe, Bruyette & Woods boosted their price objective on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Raymond James downgraded shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Finally, Morgan Stanley cut Commerce Bancshares from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $66.00 to $64.00 in a report on Monday, September 30th. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $67.33.

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.