Commerce Bancshares (NASDAQ:CBSH) CFO Charles Kim Sells 19,771 Shares

Commerce Bancshares, Inc. (NASDAQ:CBSH) CFO Charles Kim sold 19,771 shares of the firm’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $59.18, for a total transaction of $1,170,047.78. Following the transaction, the chief financial officer directly owned 119,410 shares in the company, valued at $7,066,683.80. The trade was a 14.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Commerce Bancshares Stock Performance

Shares of CBSH stock opened at $60.33 on Thursday. The stock’s 50-day moving average price is $56.08 and its 200 day moving average price is $53.14. Commerce Bancshares, Inc. has a 52-week low of $46.99 and a 52-week high of $60.92. The stock has a market capitalization of $8.79 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 2.15 and a beta of 0.58. 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 released its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $1.04 by $0.06. The business had revenue of $498.91 million during the quarter, compared to analysts’ expectations 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 prior year, the business earned $1.14 earnings per share. As a group, equities research analysts forecast that Commerce Bancshares, Inc. will post 4.22 EPS for the current year.

Institutional Investors Weigh In On Commerce Bancshares

Hedge funds have recently made changes to their positions in the business. Daytona Street Capital LLC acquired a new position in Commerce Bancshares in the fourth quarter valued at $25,000. Danske Bank A S acquired a new stake in Commerce Bancshares in the 3rd quarter worth about $25,000. Geneos Wealth Management Inc. raised its holdings in shares of Commerce Bancshares by 85.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 216 shares during the period. Root Financial Partners LLC lifted its stake in shares of Commerce Bancshares by 104.9% in the 1st quarter. Root Financial Partners LLC now owns 623 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 319 shares in the last quarter. Finally, Laurel Wealth Advisors LLC acquired a new position in shares of Commerce Bancshares in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Hovde Group cut their price target on shares of Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, April 22nd. Weiss Ratings raised Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, July 21st. Keefe, Bruyette & Woods lifted their price objective on Commerce Bancshares from $60.00 to $62.00 and gave the stock a “market perform” rating in a research report on Monday, July 20th. Stephens set a $64.00 target price on shares of Commerce Bancshares and gave the company an “equal weight” rating in a research note on Friday, July 17th. Finally, TD Cowen restated a “hold” rating and issued a $63.00 target price (up from $62.00) on shares of Commerce Bancshares in a report on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $62.43.

About Commerce Bancshares

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.