Nisa Investment Advisors LLC Has $581,000 Position in Commerce Bancshares, Inc. (NASDAQ:CBSH)

Nisa Investment Advisors LLC raised its position in Commerce Bancshares, Inc. (NASDAQ:CBSH) by 5.0% in the 4th quarter, Holdings Channel reports. The firm owned 9,326 shares of the financial services provider’s stock after buying an additional 442 shares during the period. Nisa Investment Advisors LLC’s holdings in Commerce Bancshares were worth $581,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Los Angeles Capital Management LLC increased its position 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 valued at $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 second quarter. Millennium Management LLC now owns 342,084 shares of the financial services provider’s stock worth $19,081,000 after acquiring an additional 214,582 shares in the last quarter. 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 worth $142,951,000 after purchasing an additional 163,782 shares during the period. NFJ Investment Group LLC lifted its holdings in shares of Commerce Bancshares by 17.7% during the 3rd 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 in the last quarter. Finally, Zacks Investment Management acquired a new position in shares of Commerce Bancshares in the 3rd quarter valued at approximately $6,087,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Commerce Bancshares Price Performance

Shares of NASDAQ:CBSH opened at $66.61 on Wednesday. The company’s 50-day moving average price is $66.34 and its two-hundred day moving average price is $63.93. Commerce Bancshares, Inc. has a one year low of $47.09 and a one year high of $72.75. The stock has a market capitalization of $8.54 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 3.64 and a beta of 0.79.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results 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. The business had revenue of $422.10 million for the quarter, compared to analyst estimates of $417.48 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. Commerce Bancshares’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.84 earnings per share. On average, analysts anticipate that Commerce Bancshares, Inc. will post 3.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on CBSH shares. Piper Sandler raised their target price on shares of Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Keefe, Bruyette & Woods upped 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. Wells Fargo & Company increased their target price on Commerce Bancshares from $62.00 to $67.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. Finally, Raymond James lowered Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $67.33.

Insider Transactions at Commerce Bancshares

In other news, EVP Kevin G. Barth sold 1,582 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $67.54, for a total transaction of $106,848.28. Following the transaction, the executive vice president now directly owns 65,409 shares in the company, valued at $4,417,723.86. The trade was a 2.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Patricia R. Kellerhals sold 500 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $68.55, for a total transaction of $34,275.00. Following the completion of the sale, the senior vice president now owns 22,265 shares of the company’s stock, valued at $1,526,265.75. This trade represents a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,990 shares of company stock worth $2,475,680 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

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.