Derrick Brooks Sells 1,041 Shares of Commerce Bancshares (NASDAQ:CBSH) Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Derrick Brooks sold 1,041 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $59.63, for a total transaction of $62,074.83. Following the completion of the sale, the senior vice president directly owned 13,117 shares of the company’s stock, valued at $782,166.71. This represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Commerce Bancshares Stock Down 1.5%

Shares of CBSH stock opened at $59.44 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.82 and a quick ratio of 0.82. Commerce Bancshares, Inc. has a one year low of $46.99 and a one year high of $60.92. The company’s fifty day moving average price is $56.23 and its 200-day moving average price is $53.18. The company has a market capitalization of $8.66 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 2.16 and a beta of 0.58.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data 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 business had revenue of $498.91 million for the quarter, compared to the consensus estimate of $492.22 million. Commerce Bancshares had a return on equity of 14.31% and a net margin of 26.07%.During the same period in the previous year, the business earned $1.14 earnings per share. Sell-side analysts expect that Commerce Bancshares, Inc. will post 4.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CBSH. Piper Sandler restated a “neutral” rating and set a $66.00 price target (up from $59.00) on shares of Commerce Bancshares in a report on Friday, July 17th. Wall Street Zen upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday. Weiss Ratings raised Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 21st. Keefe, Bruyette & Woods boosted their target price on 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, TD Cowen reaffirmed a “hold” rating and set a $63.00 price objective (up from $62.00) on shares of Commerce Bancshares in a research note on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Commerce Bancshares currently has an average rating of “Hold” and a consensus target price of $62.43.

Institutional Investors Weigh In On Commerce Bancshares

Several large investors have recently added to or reduced their stakes in CBSH. Danske Bank A S purchased a new stake in shares of Commerce Bancshares in the third quarter valued at approximately $25,000. Geneos Wealth Management Inc. raised 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 valued at $29,000 after acquiring an additional 216 shares in the last quarter. Daytona Street Capital LLC bought a new position in Commerce Bancshares during the 4th quarter worth about $25,000. Root Financial Partners LLC raised its holdings in shares of Commerce Bancshares by 104.9% in the 1st quarter. Root Financial Partners LLC now owns 623 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 319 shares in the last quarter. Finally, Laurel Wealth Advisors LLC bought a new position in shares of Commerce Bancshares during the fourth quarter valued at approximately $34,000. 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

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.