Insider Selling: Commerce Bancshares, Inc. (NASDAQ:CBSH) EVP Sells 24,870 Shares of Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) EVP Kevin G. Barth sold 24,870 shares of the firm’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $66.06, for a total transaction of $1,642,912.20. Following the completion of the transaction, the executive vice president now owns 45,511 shares in the company, valued at $3,006,456.66. The trade was a 35.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Commerce Bancshares Price Performance

Shares of Commerce Bancshares stock opened at $66.09 on Thursday. Commerce Bancshares, Inc. has a 52-week low of $47.09 and a 52-week high of $72.75. The firm has a market capitalization of $8.47 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 3.64 and a beta of 0.79. The company’s fifty day moving average price is $66.25 and its two-hundred day moving average price is $63.95.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.06. The firm had revenue of $422.10 million during the quarter, compared to analyst estimates of $417.48 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.84 earnings per share. Analysts predict that Commerce Bancshares, Inc. will post 3.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CBSH has been the topic of several research analyst reports. Wells Fargo & Company raised their price target on Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday. Raymond James downgraded Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Piper Sandler increased their price objective on Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Seven analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $67.83.

Hedge Funds Weigh In On Commerce Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC bought a new position in shares of Commerce Bancshares during the third quarter valued at $566,000. Procyon Advisors LLC bought a new position in Commerce Bancshares during the 4th quarter valued at about $200,000. Centiva Capital LP acquired a new position in Commerce Bancshares in the third quarter valued at about $581,000. PFW Advisors LLC bought a new stake in Commerce Bancshares during the fourth quarter worth about $1,336,000. Finally, Barclays PLC grew its stake in Commerce Bancshares by 19.4% during the third quarter. Barclays PLC now owns 106,934 shares of the financial services provider’s stock worth $6,353,000 after buying an additional 17,400 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

About Commerce Bancshares

Commerce Bancshares, Inc operates as the bank holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses in the United States. It operates through three segments: Consumer, Commercial, and Wealth.