Commerce Bancshares (NASDAQ:CBSH) SVP Sells $56,793.60 in Stock

by · The Markets Daily

Commerce Bancshares, Inc. (NASDAQ:CBSH – Get Free Report) SVP Derrick Brooks sold 1,044 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $54.40, for a total transaction of $56,793.60. Following the sale, the senior vice president directly owned 14,585 shares of the company’s stock, valued at $793,424. The trade was a 6.68% 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 Stock Up 0.1%

CBSH stock traded up $0.08 during trading on Thursday, reaching $54.39. The company’s stock had a trading volume of 1,520,167 shares, compared to its average volume of 1,298,015. The company has a market capitalization of $7.20 billion, a P/E ratio of 12.98, a price-to-earnings-growth ratio of 2.67 and a beta of 0.62. The company’s fifty day moving average is $53.08 and its 200-day moving average is $54.61. Commerce Bancshares, Inc. has a 1 year low of $48.69 and a 1 year high of $65.59.

Commerce Bancshares (NASDAQ:CBSH – Get Free Report) last released its earnings results on Thursday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.02. The firm had revenue of $449.36 million for the quarter, compared to the consensus estimate of $442.47 million. Commerce Bancshares had a return on equity of 15.51% and a net margin of 26.51%.The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 EPS. Analysts anticipate that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Daytona Street Capital LLC bought a new stake in Commerce Bancshares in the fourth quarter valued at $25,000. Danske Bank A S acquired a new stake in Commerce Bancshares during the 3rd quarter worth about $25,000. Geneos Wealth Management Inc. boosted its position in shares of Commerce Bancshares by 85.4% in the first 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. Quent Capital LLC acquired a new position in Commerce Bancshares in the 3rd quarter valued at approximately $31,000. Finally, CoreFirst Bank & Trust purchased a new stake in shares of Commerce Bancshares during the 2nd quarter worth about $33,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on CBSH. Wells Fargo & Company cut their target price on shares of Commerce Bancshares from $61.90 to $57.14 and set an “equal weight” rating for the company in a research note on Tuesday, October 21st. Keefe, Bruyette & Woods lowered their price target on Commerce Bancshares from $61.90 to $57.14 and set a “market perform” rating for the company in a research report on Friday, October 17th. Piper Sandler set a $62.00 target price on Commerce Bancshares and gave the company a “neutral” rating in a report on Monday, January 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Commerce Bancshares in a research report on Monday, December 29th. Finally, TD Cowen lowered their target price on shares of Commerce Bancshares from $61.00 to $55.00 and set a “hold” rating on the stock in a research report on Wednesday, January 7th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $61.75.

Get Our Latest Report on Commerce Bancshares

About Commerce Bancshares

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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.

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