Janney Montgomery Scott LLC grew its position in shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Free Report) by 4.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 280,842 shares of the financial services provider's stock after buying an additional 12,905 shares during the period. Janney Montgomery Scott LLC owned about 0.22% of Commerce Bancshares worth $17,499,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Hsbc Holdings PLC acquired a new stake in Commerce Bancshares during the second quarter worth about $207,000. Evergreen Capital Management LLC bought a new stake in shares of Commerce Bancshares in the 2nd quarter worth approximately $271,000. Bank of Montreal Can grew its stake in Commerce Bancshares by 76.8% during the 2nd quarter. Bank of Montreal Can now owns 66,701 shares of the financial services provider's stock worth $3,724,000 after buying an additional 28,969 shares during the last quarter. AQR Capital Management LLC lifted its stake in Commerce Bancshares by 18.4% in the second quarter. AQR Capital Management LLC now owns 154,828 shares of the financial services provider's stock valued at $8,548,000 after buying an additional 24,101 shares during the last quarter. Finally, Dark Forest Capital Management LP acquired a new position in shares of Commerce Bancshares during the second quarter valued at $522,000. Institutional investors and hedge funds own 70.26% of the company's stock.

Shares of CBSH traded up $0.24 during midday trading on Friday, reaching $66.00. The stock had a trading volume of 609,582 shares, compared to its average volume of 424,059. The firm's 50 day moving average price is $66.55 and its 200-day moving average price is $63.76. Commerce Bancshares, Inc. has a 52 week low of $47.09 and a 52 week high of $72.75. 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 (NASDAQ:CBSH - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (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 company had revenue of $422.10 million for the quarter, compared to analysts' expectations of $417,482 billion. During the same quarter in the previous year, the company posted $0.84 EPS. The business's revenue was up 7.3% compared to the same quarter last year. On average, equities analysts forecast that Commerce Bancshares, Inc. will post 3.73 earnings per share for the current year.

In other Commerce Bancshares news, EVP Kevin G. Barth sold 1,582 shares of the firm's stock in a transaction dated Tuesday, December 17th. The shares were 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 directly owns 65,409 shares in the company, valued at $4,417,723.86. This trade represents a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP David L. Roller sold 890 shares of Commerce Bancshares stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $72.27, for a total transaction of $64,320.30. Following the completion of the transaction, the senior vice president now directly owns 30,949 shares in the company, valued at approximately $2,236,684.23. This trade represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,398 shares of company stock valued at $651,265. Corporate insiders own 3.20% of the company's stock.

CBSH has been the topic of several recent research reports. Wells Fargo & Company lifted their price objective 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. Piper Sandler boosted 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. Morgan Stanley cut Commerce Bancshares from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $66.00 to $64.00 in a research report on Monday, September 30th. Raymond James lowered Commerce Bancshares from an "outperform" rating to a "market perform" rating in a research report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods raised their price target 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 analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $67.33.

Read Our Latest Research Report on CBSH

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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.

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