Robert Holmes Sells 5,000 Shares of Commerce Bancshares (NASDAQ:CBSH) Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) EVP Robert Holmes sold 5,000 shares of the firm’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $60.20, for a total value of $301,000.00. Following the completion of the transaction, the executive vice president owned 55,962 shares of the company’s stock, valued at approximately $3,368,912.40. The trade was a 8.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Commerce Bancshares Price Performance

Shares of NASDAQ CBSH opened at $59.27 on Friday. The business’s 50 day moving average price is $56.37 and its 200 day moving average price is $53.23. The firm has a market cap of $8.64 billion, a P/E ratio of 14.35, a P/E/G ratio of 2.12 and a beta of 0.58. Commerce Bancshares, Inc. has a 52 week low of $46.99 and a 52 week high of $60.92. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.01.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.10 earnings per share 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 in the prior year, the company earned $1.14 EPS. On average, sell-side analysts expect that Commerce Bancshares, Inc. will post 4.22 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CBSH shares. Weiss Ratings upgraded shares of Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 21st. Stephens set a $64.00 target price on shares of Commerce Bancshares and gave the company an “equal weight” rating in a research report on Friday, July 17th. TD Cowen reaffirmed a “hold” rating and issued a $63.00 price target (up from $62.00) on shares of Commerce Bancshares in a report on Friday, July 17th. Morgan Stanley reaffirmed a “positive” rating and set a $65.00 price target (up from $61.00) on shares of Commerce Bancshares in a research report on Monday, June 29th. Finally, Hovde Group reduced their price objective on Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, April 22nd. 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, the stock currently has an average rating of “Hold” and an average price target of $62.43.

Hedge Funds Weigh In On Commerce Bancshares

Institutional investors have recently made changes to their positions in the company. Danske Bank A S purchased a new stake in Commerce Bancshares during the 3rd quarter valued at about $25,000. Geneos Wealth Management Inc. raised its stake in Commerce Bancshares by 85.4% during the first 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 period. Daytona Street Capital LLC acquired a new position in Commerce Bancshares in the 4th quarter valued at about $25,000. Root Financial Partners LLC grew its stake 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 buying an additional 319 shares during the period. Finally, Laurel Wealth Advisors LLC acquired a new stake in shares of Commerce Bancshares during the 4th quarter worth approximately $34,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

About Commerce Bancshares

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.