Commerce Bancshares (NASDAQ:CBSH) EVP Robert Holmes Sells 5,000 Shares

Commerce Bancshares, Inc. (NASDAQ:CBSH) EVP Robert Holmes sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $60.20, for a total transaction of $301,000.00. Following the completion of the transaction, the executive vice president owned 55,962 shares of the company’s stock, valued at approximately $3,368,912.40. This trade represents a 8.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Commerce Bancshares Price Performance

Shares of NASDAQ:CBSH opened at $59.27 on Friday. The firm has a market cap of $8.64 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 2.13 and a beta of 0.58. The firm’s fifty day moving average is $56.37 and its 200-day moving average is $53.23. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.82 and a current ratio of 0.82. Commerce Bancshares, Inc. has a 52 week low of $46.99 and a 52 week high of $60.92.

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

Institutional Investors Weigh In On Commerce Bancshares

Large investors have recently added to or reduced their stakes in the business. Danske Bank A S acquired a new position in Commerce Bancshares in the third quarter valued at approximately $25,000. Geneos Wealth Management Inc. grew its position in shares of Commerce Bancshares by 85.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after buying an additional 216 shares during the period. Daytona Street Capital LLC bought a new stake in shares of Commerce Bancshares in the 4th quarter valued at $25,000. Root Financial Partners LLC increased its stake in Commerce Bancshares by 104.9% in the first 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 bought a new stake in Commerce Bancshares in the fourth quarter valued at $34,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. TD Cowen reissued a “hold” rating and issued a $63.00 price target (up from $62.00) on shares of Commerce Bancshares in a research note on Friday, July 17th. Piper Sandler reaffirmed a “neutral” rating and issued a $66.00 price objective (up from $59.00) on shares of Commerce Bancshares in a research note on Friday, July 17th. Stephens set a $64.00 target price on Commerce Bancshares and gave the company an “equal weight” rating in a report on Friday, July 17th. Weiss Ratings raised shares of Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, July 21st. Finally, Wells Fargo & Company raised their price target on shares of Commerce Bancshares from $53.00 to $57.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. 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 data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target 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.