Commerce Bancshares (NASDAQ:CBSH) CFO Sells $1,170,047.78 in Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) CFO Charles Kim sold 19,771 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer owned 119,410 shares of the company’s stock, valued at $7,066,683.80. The trade was a 14.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Commerce Bancshares Trading Down 0.3%

NASDAQ CBSH opened at $59.27 on Friday. The firm has a market capitalization of $8.64 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 2.13 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. Commerce Bancshares, Inc. has a one year low of $46.99 and a one year high of $60.92. The company’s 50 day moving average price is $56.37 and its 200 day moving average price is $53.23.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data 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. 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 during the quarter, compared to the consensus estimate of $492.22 million. During the same period in the previous year, the firm earned $1.14 earnings per share. On average, sell-side analysts predict that Commerce Bancshares, Inc. will post 4.22 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Daytona Street Capital LLC purchased a new position in Commerce Bancshares in the fourth quarter valued at about $25,000. Danske Bank A S acquired a new stake in Commerce Bancshares during the 3rd quarter valued at approximately $25,000. Geneos Wealth Management Inc. increased its holdings in Commerce Bancshares by 85.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 216 shares during the last quarter. Root Financial Partners LLC increased its holdings in Commerce Bancshares by 104.9% during the 1st quarter. Root Financial Partners LLC now owns 623 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 319 shares during the last quarter. Finally, Laurel Wealth Advisors LLC acquired a new position in shares of Commerce Bancshares in the 4th quarter valued at approximately $34,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CBSH has been the subject of a number of research reports. Piper Sandler reaffirmed a “neutral” rating and set a $66.00 price target (up from $59.00) on shares of Commerce Bancshares in a research report on Friday, July 17th. Hovde Group cut their price objective on Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 22nd. Wall Street Zen upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday. Morgan Stanley reaffirmed a “positive” rating and issued a $65.00 target price (up from $61.00) on shares of Commerce Bancshares in a research report on Monday, June 29th. Finally, Weiss Ratings raised Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, July 21st. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.