Commerce Bancshares (NASDAQ:CBSH) SVP Sells $56,793.60 in Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Derrick Brooks sold 1,044 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $54.40, for a total transaction of $56,793.60. Following the sale, the senior vice president directly owned 14,585 shares of the company’s stock, valued at $793,424. This represents a 6.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Commerce Bancshares Trading Up 1.4%

Shares of Commerce Bancshares stock opened at $55.17 on Friday. Commerce Bancshares, Inc. has a twelve month low of $48.69 and a twelve month high of $65.36. The firm has a market capitalization of $7.31 billion, a PE ratio of 13.17, a P/E/G ratio of 2.75 and a beta of 0.62. The firm’s 50-day moving average price is $53.22 and its 200 day moving average price is $54.52.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.02. The business had revenue of $449.36 million during the quarter, compared to analysts’ expectations of $442.47 million. Commerce Bancshares had a return on equity of 15.51% and a net margin of 26.51%.The business’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.01 earnings per share. On average, sell-side analysts predict that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Zacks Research cut shares of Commerce Bancshares from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Commerce Bancshares in a report on Monday, December 29th. Keefe, Bruyette & Woods decreased their target price on shares of Commerce Bancshares from $61.90 to $57.14 and set a “market perform” rating on the stock in a research note on Friday, October 17th. Finally, Piper Sandler set a $62.00 price target on Commerce Bancshares and gave the company a “neutral” rating in a research report on Monday, January 26th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Commerce Bancshares currently has an average rating of “Reduce” and a consensus price target of $61.75.

Institutional Trading of Commerce Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position in shares of Commerce Bancshares by 39.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 12,012 shares of the financial services provider’s stock valued at $629,000 after buying an additional 3,369 shares during the period. Axxcess Wealth Management LLC raised its position in Commerce Bancshares by 5.5% in the fourth quarter. Axxcess Wealth Management LLC now owns 13,921 shares of the financial services provider’s stock valued at $729,000 after purchasing an additional 727 shares during the period. Global Retirement Partners LLC raised its position in Commerce Bancshares by 95.9% in the fourth quarter. Global Retirement Partners LLC now owns 3,301 shares of the financial services provider’s stock valued at $173,000 after purchasing an additional 1,616 shares during the period. Jag Capital Management LLC lifted its stake in shares of Commerce Bancshares by 5.6% in the 4th quarter. Jag Capital Management LLC now owns 11,046 shares of the financial services provider’s stock valued at $578,000 after purchasing an additional 589 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in shares of Commerce Bancshares by 42.6% in the 4th quarter. Handelsbanken Fonder AB now owns 43,585 shares of the financial services provider’s stock valued at $2,281,000 after purchasing an additional 13,027 shares during the last quarter. Institutional investors and hedge funds 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.