Insider Selling: Commerce Bancshares (NASDAQ:CBSH) SVP Sells $62,074.83 in Stock

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

Commerce Bancshares Trading Up 0.5%

Shares of CBSH traded up $0.32 during midday trading on Wednesday, hitting $60.33. 1,465,206 shares of the stock were exchanged, compared to its average volume of 1,292,180. Commerce Bancshares, Inc. has a 52-week low of $46.99 and a 52-week high of $60.92. The stock has a fifty day simple moving average of $55.92 and a 200 day simple moving average of $53.11. The firm has a market cap of $8.79 billion, a P/E ratio of 14.61, a P/E/G ratio of 2.11 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 (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.06. The firm 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 quarter in the previous year, the business earned $1.14 EPS. On average, research analysts anticipate that Commerce Bancshares, Inc. will post 4.22 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Wall Street Zen upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday. Morgan Stanley restated a “positive” rating and issued a $65.00 price objective (up from $61.00) on shares of Commerce Bancshares in a report on Monday, June 29th. Keefe, Bruyette & Woods upped their target price on shares of Commerce Bancshares from $60.00 to $62.00 and gave the stock a “market perform” rating in a research note on Monday, July 20th. Stephens set a $64.00 target price on shares of Commerce Bancshares and gave the stock an “equal weight” rating in a report on Friday, July 17th. Finally, TD Cowen reissued a “hold” rating and issued a $63.00 price target (up from $62.00) on shares of Commerce Bancshares in a research report on Friday, July 17th. Three equities 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, Commerce Bancshares has an average rating of “Hold” and a consensus target price of $62.43.

Institutional Investors Weigh In On Commerce Bancshares

A number of hedge funds have recently bought and sold shares of the stock. Apriem Advisors boosted its stake in shares of Commerce Bancshares by 5.0% in the 4th quarter. Apriem Advisors now owns 4,018 shares of the financial services provider’s stock valued at $210,000 after buying an additional 191 shares during the period. Heartland Bank & Trust Co grew its position in shares of Commerce Bancshares by 4.4% during the fourth quarter. Heartland Bank & Trust Co now owns 4,595 shares of the financial services provider’s stock worth $240,000 after buying an additional 192 shares in the last quarter. Outlook Wealth Advisors LLC increased its stake in shares of Commerce Bancshares by 3.7% during the fourth quarter. Outlook Wealth Advisors LLC now owns 5,934 shares of the financial services provider’s stock worth $311,000 after buying an additional 214 shares during the period. Elser Financial Planning Inc increased its stake in shares of Commerce Bancshares by 5.0% during the fourth quarter. Elser Financial Planning Inc now owns 4,531 shares of the financial services provider’s stock worth $237,000 after buying an additional 215 shares during the period. Finally, Centerpoint Advisory Group raised its holdings in Commerce Bancshares by 5.0% in the fourth quarter. Centerpoint Advisory Group now owns 4,534 shares of the financial services provider’s stock valued at $237,000 after acquiring an additional 215 shares in 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.