Commerce Bancshares, Inc. (NASDAQ:CBSH) VP Daniel D. Callahan sold 1,200 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $64.13, for a total transaction of $76,956.00.
Shares of Commerce Bancshares stock traded up $0.44 on Thursday, reaching $64.13. The company’s stock had a trading volume of 456,378 shares, compared to its average volume of 442,624. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $7.23 billion, a P/E ratio of 17.81, a PEG ratio of 6.00 and a beta of 0.77. The stock has a 50-day moving average price of $65.20 and a 200-day moving average price of $60.40. Commerce Bancshares, Inc. has a 52-week low of $53.40 and a 52-week high of $67.84.
Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. Commerce Bancshares had a return on equity of 14.52% and a net margin of 29.34%. The firm had revenue of $336.30 million for the quarter, compared to analyst estimates of $337.31 million. During the same quarter last year, the firm posted $1.03 EPS. The business’s revenue was down .8% on a year-over-year basis. Sell-side analysts forecast that Commerce Bancshares, Inc. will post 3.54 earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of CBSH. Resources Management Corp CT ADV acquired a new stake in shares of Commerce Bancshares in the third quarter valued at about $34,000. Nomura Asset Management Co. Ltd. purchased a new stake in shares of Commerce Bancshares during the second quarter worth about $35,000. Synovus Financial Corp purchased a new stake in shares of Commerce Bancshares during the second quarter worth about $49,000. Captrust Financial Advisors purchased a new stake in shares of Commerce Bancshares during the second quarter worth about $50,000. Finally, Meeder Asset Management Inc. raised its position in shares of Commerce Bancshares by 217.0% during the 3rd quarter. Meeder Asset Management Inc. now owns 821 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 562 shares during the last quarter. Institutional investors own 69.10% of the company’s stock.
A number of research analysts have weighed in on the stock. Morgan Stanley lifted their price objective on shares of Commerce Bancshares from $52.38 to $54.00 and gave the company an “underweight” rating in a report on Wednesday. BidaskClub lowered shares of Commerce Bancshares from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Stephens restated a “hold” rating and set a $59.00 target price on shares of Commerce Bancshares in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $58.41.
Commerce Bancshares Company 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. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online banking services.
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