Commerce Bancshares (NASDAQ:CBSH – Get Free Report) posted its quarterly earnings results on Thursday. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.17, Briefing.com reports. The firm had revenue of $414.90 million for the quarter, compared to analysts’ expectations of $406.88 million. Commerce Bancshares had a net margin of 23.62% and a return on equity of 16.50%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.97 earnings per share.
Commerce Bancshares Stock Performance
Commerce Bancshares stock opened at $63.23 on Friday. The company has a 50-day simple moving average of $55.78 and a 200-day simple moving average of $53.91. The firm has a market capitalization of $8.19 billion, a P/E ratio of 17.63 and a beta of 0.76. Commerce Bancshares has a one year low of $40.91 and a one year high of $64.39.
Insider Transactions at Commerce Bancshares
In other news, CEO John W. Kemper sold 26,581 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $56.77, for a total transaction of $1,509,003.37. Following the completion of the transaction, the chief executive officer now owns 198,387 shares in the company, valued at $11,262,429.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.20% of the company’s stock.
Wall Street Analyst Weigh In
Check Out Our Latest Stock Report on CBSH
About Commerce Bancshares
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 in the United States. It operates through three segments: Consumer, Commercial, and Wealth.
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