Derrick Brooks Sells 1,044 Shares of Commerce Bancshares (NASDAQ:CBSH) Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Derrick Brooks sold 1,044 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $54.40, for a total value 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Commerce Bancshares Stock Performance

Commerce Bancshares stock opened at $55.17 on Friday. The business’s fifty day moving average is $53.22 and its two-hundred day moving average is $54.57. Commerce Bancshares, Inc. has a 52 week low of $48.69 and a 52 week high of $65.36. The firm has a market cap of $7.31 billion, a P/E ratio of 13.17, a P/E/G ratio of 2.71 and a beta of 0.62.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Wells Fargo & Company cut their target price on shares of Commerce Bancshares from $61.90 to $57.14 and set an “equal weight” rating on the stock in a report on Tuesday, October 21st. Piper Sandler set a $62.00 price target on Commerce Bancshares and gave the stock a “neutral” rating in a research report on Monday, January 26th. TD Cowen lowered their price objective on shares of Commerce Bancshares from $61.00 to $55.00 and set a “hold” rating for the company in a research report on Wednesday, January 7th. Finally, Zacks Research downgraded Commerce Bancshares from a “hold” rating to a “strong sell” rating in a report on Thursday, January 8th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Commerce Bancshares has a consensus rating of “Reduce” and an average price target of $61.75.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its holdings in shares of Commerce Bancshares by 39.0% in 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 last quarter. Axxcess Wealth Management LLC increased its holdings in Commerce Bancshares by 5.5% during the fourth quarter. Axxcess Wealth Management LLC now owns 13,921 shares of the financial services provider’s stock worth $729,000 after buying an additional 727 shares during the last quarter. Global Retirement Partners LLC raised its position in Commerce Bancshares by 95.9% during the fourth quarter. Global Retirement Partners LLC now owns 3,301 shares of the financial services provider’s stock worth $173,000 after acquiring an additional 1,616 shares in the last quarter. Jag Capital Management LLC lifted its stake in Commerce Bancshares by 5.6% in the fourth quarter. Jag Capital Management LLC now owns 11,046 shares of the financial services provider’s stock valued at $578,000 after acquiring an additional 589 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its position 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 acquiring an additional 13,027 shares during the period. 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.