Commerce Bancshares (NASDAQ:CBSH) SVP David Roller Sells 2,092 Shares of Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP David Roller sold 2,092 shares of Commerce Bancshares stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $53.32, for a total transaction of $111,545.44. Following the completion of the sale, the senior vice president directly owned 28,933 shares in the company, valued at approximately $1,542,707.56. This represents a 6.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Commerce Bancshares Stock Up 1.3%

NASDAQ CBSH opened at $54.31 on Thursday. The firm’s 50-day simple moving average is $53.08 and its two-hundred day simple moving average is $54.61. The company has a market cap of $7.19 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 2.67 and a beta of 0.62. Commerce Bancshares, Inc. has a 52 week low of $48.69 and a 52 week high of $65.59.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Thursday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.99 by $0.02. The business had revenue of $449.36 million during the quarter, compared to the consensus estimate of $442.47 million. Commerce Bancshares had a return on equity of 15.51% and a net margin of 26.51%.The firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.01 EPS. As a group, equities research analysts anticipate that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Institutional Trading of Commerce Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of CBSH. Daytona Street Capital LLC purchased a new position in shares of Commerce Bancshares in the fourth quarter worth $25,000. Danske Bank A S bought a new stake in shares of Commerce Bancshares in the 3rd quarter valued at approximately $25,000. Geneos Wealth Management Inc. boosted its stake in Commerce Bancshares by 85.4% during the first 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 during the period. Quent Capital LLC purchased a new stake in Commerce Bancshares in the 3rd quarter worth about $31,000. Finally, CoreFirst Bank & Trust purchased a new stake in shares of Commerce Bancshares in the second quarter worth approximately $33,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CBSH shares. Weiss Ratings reissued a “hold (c)” rating on shares of Commerce Bancshares in a research note on Monday, December 29th. Piper Sandler set a $62.00 price target on Commerce Bancshares and gave the stock a “neutral” rating in a research note on Monday, January 26th. Keefe, Bruyette & Woods decreased their price objective on shares of Commerce Bancshares from $61.90 to $57.14 and set a “market perform” rating for the company in a report on Friday, October 17th. Wall Street Zen cut shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Finally, Wells Fargo & Company reduced their target price on Commerce Bancshares from $61.90 to $57.14 and set an “equal weight” rating on the stock in a report on Tuesday, October 21st. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $61.75.

Commerce Bancshares Company 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.