Commerce Bancshares, Inc. (NASDAQ:CBSH) CFO Charles G. Kim sold 4,475 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $67.34, for a total transaction of $301,346.50. Following the sale, the chief financial officer now directly owns 85,387 shares in the company, valued at approximately $5,749,960.58. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Commerce Bancshares stock opened at $63.55 on Tuesday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.09. Commerce Bancshares, Inc. has a 1 year low of $53.40 and a 1 year high of $67.84. The company has a market cap of $7.19 billion, a PE ratio of 16.81, a PEG ratio of 6.00 and a beta of 0.77. The company’s 50-day moving average is $65.05 and its two-hundred day moving average is $60.36.
Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Wednesday, October 16th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. Commerce Bancshares had a net margin of 29.34% and a return on equity of 14.52%. The company had revenue of $336.30 million for the quarter, compared to the consensus estimate of $337.31 million. During the same period in the prior year, the company posted $1.03 EPS. The company’s revenue was down .8% compared to the same quarter last year. Research analysts forecast that Commerce Bancshares, Inc. will post 3.72 EPS for the current year.
A number of brokerages have commented on CBSH. BidaskClub raised shares of Commerce Bancshares from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Stephens reissued a “hold” rating and set a $59.00 price objective on shares of Commerce Bancshares in a report on Wednesday, October 16th. Finally, Morgan Stanley reissued a “sell” rating and set a $52.40 price objective (down previously from $55.00) on shares of Commerce Bancshares in a report on Monday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Commerce Bancshares presently has an average rating of “Hold” and a consensus target price of $58.14.
A number of institutional investors have recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC lifted its position in Commerce Bancshares by 1.2% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 184,183 shares of the financial services provider’s stock valued at $11,171,000 after purchasing an additional 2,219 shares during the period. California State Teachers Retirement System lifted its position in Commerce Bancshares by 0.3% during the 3rd quarter. California State Teachers Retirement System now owns 158,695 shares of the financial services provider’s stock valued at $9,625,000 after purchasing an additional 428 shares during the period. Stifel Financial Corp raised its position in shares of Commerce Bancshares by 4.4% in the 3rd quarter. Stifel Financial Corp now owns 21,270 shares of the financial services provider’s stock valued at $1,287,000 after acquiring an additional 889 shares during the period. Voya Investment Management LLC raised its position in shares of Commerce Bancshares by 2.8% in the 3rd quarter. Voya Investment Management LLC now owns 18,151 shares of the financial services provider’s stock valued at $1,101,000 after acquiring an additional 493 shares during the period. Finally, Barber Financial Group Inc. raised its position in shares of Commerce Bancshares by 6.8% in the 3rd quarter. Barber Financial Group Inc. now owns 16,628 shares of the financial services provider’s stock valued at $1,008,000 after acquiring an additional 1,053 shares during the period. Institutional investors own 69.10% of the company’s stock.
Commerce Bancshares Company Profile
Commerce Bancshares, Inc operates as the bank holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online banking services.
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