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 company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $66.06, for a total transaction of $1,642,912.20. Following the sale, the executive vice president now directly owns 45,511 shares of the company’s stock, valued at approximately $3,006,456.66. This trade represents a 35.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Commerce Bancshares Stock Performance

Shares of Commerce Bancshares stock traded down $0.33 on Tuesday, hitting $66.61. The stock had a trading volume of 316,007 shares, compared to its average volume of 535,684. The stock has a 50 day moving average of $66.44 and a 200 day moving average of $63.87. Commerce Bancshares, Inc. has a twelve month low of $47.09 and a twelve month high of $72.75. The firm has a market capitalization of $8.54 billion, a P/E ratio of 16.61, a PEG ratio of 3.64 and a beta of 0.79.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. The company had revenue of $422.10 million for 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%. Commerce Bancshares’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.84 earnings per share. Equities analysts expect that Commerce Bancshares, Inc. will post 3.73 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CBSH. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Keefe, Bruyette & Woods raised their price objective on Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Raymond James downgraded Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Morgan Stanley downgraded shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $66.00 to $64.00 in a research note on Monday, September 30th. Finally, Wells Fargo & Company upped their price objective on shares of Commerce Bancshares from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd. Seven equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $67.33.

Hedge Funds Weigh In On Commerce Bancshares

A number of hedge funds have recently made changes to their positions in CBSH. V Square Quantitative Management LLC acquired a new stake in Commerce Bancshares during the 3rd quarter worth about $26,000. Allworth Financial LP increased its holdings in Commerce Bancshares by 51.1% in the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 192 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Commerce Bancshares in the third quarter valued at approximately $39,000. True Wealth Design LLC bought a new position in shares of Commerce Bancshares during the 3rd quarter worth approximately $47,000. Finally, Farther Finance Advisors LLC grew its position in shares of Commerce Bancshares by 48.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock worth $52,000 after buying an additional 287 shares during the period. 70.26% of the stock is currently owned by institutional investors.

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.