David Roller Sells 1,134 Shares of Commerce Bancshares (NASDAQ:CBSH) Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP David Roller sold 1,134 shares of Commerce Bancshares stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $54.48, for a total value of $61,780.32. Following the completion of the transaction, the senior vice president owned 30,535 shares in the company, valued at approximately $1,663,546.80. This represents a 3.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Commerce Bancshares Price Performance

CBSH stock opened at $55.17 on Friday. The stock has a market cap of $7.31 billion, a price-to-earnings ratio of 13.17, a P/E/G ratio of 2.71 and a beta of 0.62. The company has a 50 day simple moving average of $53.22 and a 200 day simple moving average of $54.57. Commerce Bancshares, Inc. has a 1 year low of $48.69 and a 1 year high of $65.36.

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CBSH shares. Zacks Research downgraded Commerce Bancshares from a “hold” rating to a “strong sell” rating in a report on Thursday, January 8th. Keefe, Bruyette & Woods reduced their price target on Commerce Bancshares from $61.90 to $57.14 and set a “market perform” rating on the stock in a research report on Friday, October 17th. TD Cowen decreased their price target on Commerce Bancshares from $61.00 to $55.00 and set a “hold” rating for the company in a research note on Wednesday, January 7th. Piper Sandler set a $62.00 price objective on Commerce Bancshares and gave the stock a “neutral” rating in a research note on Monday, January 26th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Commerce Bancshares in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $61.75.

Institutional Trading of Commerce Bancshares

Hedge funds have recently modified their holdings of the stock. Danske Bank A S bought a new position in Commerce Bancshares during the third quarter worth $25,000. Geneos Wealth Management Inc. increased its stake in Commerce Bancshares by 85.4% in the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 216 shares in the last quarter. Daytona Street Capital LLC acquired a new position in shares of Commerce Bancshares during the fourth quarter valued at about $25,000. Quent Capital LLC bought a new position in shares of Commerce Bancshares during the 3rd quarter worth about $31,000. Finally, CoreFirst Bank & Trust acquired a new stake in shares of Commerce Bancshares in the 2nd quarter valued at about $33,000. Institutional investors 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.