Commerce Bancshares (NASDAQ:CBSH) CEO Sells 5,830 Shares

Commerce Bancshares, Inc. (NASDAQ:CBSH) CEO John Kemper sold 5,830 shares of the stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $60.58, for a total value of $353,181.40. Following the sale, the chief executive officer directly owned 206,528 shares in the company, valued at approximately $12,511,466.24. The trade was a 2.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Commerce Bancshares Price Performance

CBSH stock traded down $0.89 during trading on Thursday, hitting $59.44. The stock had a trading volume of 1,043,961 shares, compared to its average volume of 1,290,456. The stock has a market cap of $8.67 billion, a price-to-earnings ratio of 14.39, a price-to-earnings-growth ratio of 2.15 and a beta of 0.58. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.82 and a current ratio of 0.82. The company’s 50 day moving average price is $56.08 and its two-hundred day moving average price is $53.14. Commerce Bancshares, Inc. has a 1-year low of $46.99 and a 1-year high of $60.92.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.06. The company had revenue of $498.91 million for 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 period last year, the company earned $1.14 EPS. On average, sell-side analysts forecast that Commerce Bancshares, Inc. will post 4.22 EPS for the current fiscal year.

Institutional Trading of Commerce Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of CBSH. Apriem Advisors raised its holdings in Commerce Bancshares by 5.0% in the fourth quarter. Apriem Advisors now owns 4,018 shares of the financial services provider’s stock valued at $210,000 after buying an additional 191 shares during the period. Heartland Bank & Trust Co raised its stake in shares of Commerce Bancshares by 4.4% in the 4th quarter. Heartland Bank & Trust Co now owns 4,595 shares of the financial services provider’s stock valued at $240,000 after acquiring an additional 192 shares during the period. Outlook Wealth Advisors LLC lifted its holdings in shares of Commerce Bancshares by 3.7% during the 4th quarter. Outlook Wealth Advisors LLC now owns 5,934 shares of the financial services provider’s stock valued at $311,000 after acquiring an additional 214 shares in the last quarter. Elser Financial Planning Inc increased its holdings in Commerce Bancshares by 5.0% in the 4th quarter. Elser Financial Planning Inc now owns 4,531 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 215 shares in the last quarter. Finally, Centerpoint Advisory Group increased its holdings in Commerce Bancshares by 5.0% in the 4th quarter. Centerpoint Advisory Group now owns 4,534 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 215 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CBSH. Wells Fargo & Company increased their price target on Commerce Bancshares from $53.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Monday, July 6th. Keefe, Bruyette & Woods raised their price target on Commerce Bancshares from $60.00 to $62.00 and gave the stock a “market perform” rating in a research note on Monday, July 20th. Weiss Ratings raised shares of Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 21st. Hovde Group decreased their target price on shares of Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 22nd. Finally, Wall Street Zen raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $62.43.

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.