Commerce Bancshares, Inc. (NASDAQ:CBSH) EVP Sells $181,502.96 in Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) EVP John K. Handy sold 2,722 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $66.68, for a total value of $181,502.96. Following the completion of the transaction, the executive vice president now owns 39,638 shares in the company, valued at approximately $2,643,061.84. This represents a 6.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Commerce Bancshares Trading Up 1.1 %

Shares of Commerce Bancshares stock opened at $66.80 on Friday. Commerce Bancshares, Inc. has a 12 month low of $47.09 and a 12 month high of $72.75. The company has a market capitalization of $8.57 billion, a PE ratio of 16.66, a PEG ratio of 3.64 and a beta of 0.79. The stock’s fifty day simple moving average is $66.15 and its 200 day simple moving average is $63.97.

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

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Commerce Bancshares

Large investors have recently made changes to their positions in the stock. Hsbc Holdings PLC acquired a new position in Commerce Bancshares in the 2nd quarter worth $207,000. Bank of Montreal Can raised its stake in Commerce Bancshares by 76.8% in the second quarter. Bank of Montreal Can now owns 66,701 shares of the financial services provider’s stock valued at $3,724,000 after buying an additional 28,969 shares during the period. AQR Capital Management LLC raised its stake in Commerce Bancshares by 18.4% in the 2nd quarter. AQR Capital Management LLC now owns 154,828 shares of the financial services provider’s stock valued at $8,548,000 after acquiring an additional 24,101 shares during the period. Millennium Management LLC boosted its position in Commerce Bancshares by 168.3% during the second quarter. Millennium Management LLC now owns 342,084 shares of the financial services provider’s stock worth $19,081,000 after purchasing an additional 214,582 shares during the period. Finally, Algert Global LLC acquired a new position in shares of Commerce Bancshares in the second quarter valued at $693,000. 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.