Charles Kim Sells 19,771 Shares of Commerce Bancshares (NASDAQ:CBSH) Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) CFO Charles Kim sold 19,771 shares of the stock in a transaction on Monday, July 27th. The stock was sold at an average price of $59.18, for a total value of $1,170,047.78. Following the completion of the sale, the chief financial officer owned 119,410 shares in the company, valued at approximately $7,066,683.80. The trade was a 14.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Commerce Bancshares Stock Down 1.5%

Shares of CBSH opened at $59.44 on Friday. The firm has a fifty day moving average price of $56.23 and a 200-day moving average price of $53.18. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $8.67 billion, a P/E ratio of 14.39, a P/E/G ratio of 2.16 and a beta of 0.58. Commerce Bancshares, Inc. has a 12-month low of $46.99 and a 12-month high of $60.92.

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

Hedge Funds Weigh In On Commerce Bancshares

Several institutional investors have recently bought and sold shares of CBSH. Vanguard Group Inc. boosted its position in Commerce Bancshares by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 14,690,039 shares of the financial services provider’s stock valued at $768,877,000 after acquiring an additional 1,098,142 shares in the last quarter. Verition Fund Management LLC lifted its stake in shares of Commerce Bancshares by 39.8% during the 4th quarter. Verition Fund Management LLC now owns 631,981 shares of the financial services provider’s stock worth $33,078,000 after purchasing an additional 179,894 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Commerce Bancshares by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 2,780,678 shares of the financial services provider’s stock worth $147,097,000 after purchasing an additional 174,863 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Commerce Bancshares by 29.3% during the first quarter. Dimensional Fund Advisors LP now owns 3,943,247 shares of the financial services provider’s stock valued at $193,999,000 after purchasing an additional 894,183 shares in the last quarter. Finally, Mosaic Family Wealth Partners LLC bought a new stake in Commerce Bancshares during the first quarter valued at about $3,390,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Commerce Bancshares News Summary

Here are the key news stories impacting Commerce Bancshares this week:

• Positive Sentiment: Value-stock appeal: Zacks highlighted CBSH as a strong value stock, which may attract investors seeking a profitable regional bank trading at a relatively reasonable valuation. Here’s Why Commerce Bancshares Is a Strong Value Stock
• Positive Sentiment: Recent earnings beat estimates: Commerce Bancshares reported quarterly EPS of $1.10, exceeding the $1.04 consensus estimate, while revenue of $498.91 million also topped expectations of $492.22 million. The company generated a 26.07% net margin and 14.31% return on equity, supporting the fundamental case for the stock.
• Neutral Sentiment: Analyst outlook remains mixed: Several firms recently raised their price targets, including Piper Sandler to $66 and Keefe, Bruyette & Woods to $62, but ratings remain mostly neutral. CBSH has an overall “Hold” consensus and an average target price of $62.43, implying limited upside from recent levels.
• Negative Sentiment: Multiple insiders sold shares: CEO John W. Kemper sold 5,830 shares worth approximately $353,181, CFO Charles G. Kim sold 19,771 shares worth about $1.17 million, and SVP Derrick Brooks sold 1,041 shares valued at roughly $62,075. The transactions reduced their individual holdings by approximately 2.75%, 14.21%, and 7.35%, respectively. Although insider sales can reflect personal financial planning rather than concerns about business prospects, the concentration of selling may weigh on sentiment, particularly with the stock near its 52-week high. Commerce Bancshares Insider Selling

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods boosted their price target on Commerce Bancshares from $60.00 to $62.00 and gave the company a “market perform” rating in a report on Monday, July 20th. TD Cowen restated a “hold” rating and set a $63.00 price objective (up from $62.00) on shares of Commerce Bancshares in a report on Friday, July 17th. Weiss Ratings raised Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, July 21st. Wall Street Zen upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, 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 report on Monday, July 6th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Commerce Bancshares has a consensus rating of “Hold” and a consensus 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.