John Kemper Sells 5,830 Shares of Commerce Bancshares (NASDAQ:CBSH) Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) CEO John Kemper sold 5,830 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $60.58, for a total transaction of $353,181.40. Following the completion of the transaction, the chief executive officer owned 206,528 shares in the company, valued at $12,511,466.24. This represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Commerce Bancshares Price Performance

CBSH opened at $59.27 on Friday. The company has a fifty day moving average price of $56.37 and a two-hundred day moving average price of $53.23. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.82 and a current ratio of 0.82. Commerce Bancshares, Inc. has a 52 week low of $46.99 and a 52 week high of $60.92. The firm has a market capitalization of $8.64 billion, a PE ratio of 14.35, a P/E/G ratio of 2.13 and a beta of 0.58.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Thursday, July 16th. The financial services provider reported $1.10 EPS for the quarter, beating the consensus estimate of $1.04 by $0.06. The company had revenue of $498.91 million during the quarter, compared to analysts’ expectations of $492.22 million. Commerce Bancshares had a net margin of 26.07% and a return on equity of 14.31%. During the same quarter in the previous year, the company posted $1.14 EPS. As a group, analysts anticipate that Commerce Bancshares, Inc. will post 4.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CBSH. Wall Street Zen raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday. Stephens set a $64.00 target price on Commerce Bancshares and gave the stock an “equal weight” rating in a research report on Friday, July 17th. Hovde Group lowered their price target on Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, April 22nd. Keefe, Bruyette & Woods increased their price target on shares of Commerce Bancshares from $60.00 to $62.00 and gave the company a “market perform” rating in a research report on Monday, July 20th. Finally, Piper Sandler reissued a “neutral” rating and set a $66.00 price objective (up from $59.00) on shares of Commerce Bancshares in a research note on Friday, July 17th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Commerce Bancshares has an average rating of “Hold” and an average price target of $62.43.

Institutional Trading of Commerce Bancshares

A number of large investors have recently made changes to their positions in the company. Danske Bank A S bought a new position in Commerce Bancshares during the third quarter worth about $25,000. Geneos Wealth Management Inc. increased its holdings in shares of Commerce Bancshares by 85.4% in the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 216 shares in the last quarter. Daytona Street Capital LLC bought a new stake in shares of Commerce Bancshares in the fourth quarter worth about $25,000. Root Financial Partners LLC increased its holdings in shares of Commerce Bancshares by 104.9% in the first quarter. Root Financial Partners LLC now owns 623 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 319 shares in the last quarter. Finally, Laurel Wealth Advisors LLC acquired a new stake in shares of Commerce Bancshares during the fourth quarter worth about $34,000. Institutional investors own 70.26% of the company’s stock.

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.