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 on Tuesday, July 28th. The stock was sold at an average price of $59.63, for a total transaction of $62,074.83. Following the completion of the sale, the senior vice president owned 13,117 shares in the company, valued at $782,166.71. This represents a 7.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Commerce Bancshares Price Performance

CBSH stock opened at $59.27 on Friday. Commerce Bancshares, Inc. has a 52 week low of $46.99 and a 52 week high of $60.92. The firm has a market capitalization of $8.64 billion, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 2.13 and a beta of 0.58. The company has a fifty day simple moving average of $56.37 and a two-hundred day simple moving average of $53.23. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.01.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, July 16th. The financial services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.06. Commerce Bancshares had a net margin of 26.07% and a return on equity of 14.31%. The firm had revenue of $498.91 million for the quarter, compared to the consensus estimate of $492.22 million. During the same period in the previous year, the firm posted $1.14 EPS. Analysts anticipate that Commerce Bancshares, Inc. will post 4.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on CBSH shares. Weiss Ratings upgraded Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, July 21st. Hovde Group cut their price objective on shares of Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 22nd. 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. Morgan Stanley reaffirmed a “positive” rating and set a $65.00 price target (up from $61.00) on shares of Commerce Bancshares in a research note on Monday, June 29th. Finally, TD Cowen reiterated a “hold” rating and set a $63.00 price target (up from $62.00) on shares of Commerce Bancshares in a report on Friday, July 17th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $62.43.

Institutional Investors Weigh In On Commerce Bancshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CBSH. Fulton Bank N.A. boosted its position in Commerce Bancshares by 21.8% in the 2nd quarter. Fulton Bank N.A. now owns 11,757 shares of the financial services provider’s stock valued at $679,000 after buying an additional 2,105 shares during the period. Trust Point Inc. increased its position in shares of Commerce Bancshares by 10.6% during the second quarter. Trust Point Inc. now owns 4,919 shares of the financial services provider’s stock worth $284,000 after acquiring an additional 471 shares during the period. GAMMA Investing LLC increased its position in shares of Commerce Bancshares by 39.7% during the second quarter. GAMMA Investing LLC now owns 1,900 shares of the financial services provider’s stock worth $110,000 after acquiring an additional 540 shares during the period. Stonebridge Financial Group LLC raised its stake in shares of Commerce Bancshares by 4.4% during the second quarter. Stonebridge Financial Group LLC now owns 81,288 shares of the financial services provider’s stock valued at $4,694,000 after acquiring an additional 3,433 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of Commerce Bancshares by 5.2% during the first quarter. Pacer Advisors Inc. now owns 16,273 shares of the financial services provider’s stock valued at $801,000 after acquiring an additional 805 shares in the last quarter. 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.