Commerce Bancshares, Inc. $CBSH Shares Sold by AlphaQuest LLC

AlphaQuest LLC decreased its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 58.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 30,319 shares of the financial services provider’s stock after selling 42,316 shares during the period. AlphaQuest LLC’s holdings in Commerce Bancshares were worth $1,812,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CBSH. Geneos Wealth Management Inc. grew its holdings in Commerce Bancshares by 85.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after buying an additional 216 shares in the last quarter. Quent Capital LLC acquired a new position in Commerce Bancshares during the 3rd quarter worth $31,000. CoreFirst Bank & Trust acquired a new position in Commerce Bancshares during the 2nd quarter worth $33,000. Mid American Wealth Advisory Group Inc. bought a new position in shares of Commerce Bancshares in the second quarter worth $46,000. Finally, Headlands Technologies LLC acquired a new position in shares of Commerce Bancshares during the second quarter valued at $59,000. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Stock Down 0.4%

Shares of CBSH opened at $52.64 on Friday. The firm has a market cap of $6.97 billion, a price-to-earnings ratio of 12.56, a price-to-earnings-growth ratio of 2.63 and a beta of 0.62. The company’s fifty day moving average is $52.93 and its 200-day moving average is $54.80. Commerce Bancshares, Inc. has a 12 month low of $48.69 and a 12 month high of $65.59.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. The firm had revenue of $449.36 million during the quarter, compared to analysts’ expectations of $442.47 million. Commerce Bancshares had a net margin of 26.51% and a return on equity of 15.51%. Commerce Bancshares’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.01 earnings per share. As a group, research analysts predict that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. TD Cowen decreased their target price on shares of Commerce Bancshares from $61.00 to $55.00 and set a “hold” rating for the company in a research report on Wednesday, January 7th. Piper Sandler set a $62.00 target price on Commerce Bancshares and gave the stock a “neutral” rating in a research report on Monday. Wells Fargo & Company cut their price target on shares of Commerce Bancshares from $61.90 to $57.14 and set an “equal weight” rating on the stock in a report on Tuesday, October 21st. Zacks Research downgraded Commerce Bancshares from a “hold” rating to a “strong sell” rating in a report on Thursday, January 8th. Finally, Hovde Group began coverage on shares of Commerce Bancshares in a research report on Monday, October 6th. They issued an “outperform” rating and a $66.67 target price for the company. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $61.75.

Commerce Bancshares Profile

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.