Commerce Bancshares (NASDAQ:CBSH) CFO Charles Kim Sells 19,771 Shares of Stock

Key Points

• CFO Charles Kim sold 19,771 Commerce Bancshares shares at an average price of $59.18, generating approximately $1.17 million. His remaining direct holdings fell 14.21% to 119,410 shares.
• Commerce Bancshares recently exceeded quarterly expectations, reporting $1.10 in EPS versus the $1.04 consensus and revenue of $498.91 million versus $492.22 million expected.
• CBSH shares rose 0.5% to $60.33, near their 12-month high of $60.92, while analysts maintained an overall “Hold” rating with a consensus price target of $62.43; institutional investors own 70.26% of the stock.

Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) CFO Charles Kim sold 19,771 shares of the business's stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $59.18, for a total transaction of $1,170,047.78. Following the completion of the transaction, the chief financial officer directly owned 119,410 shares of the company's stock, valued at $7,066,683.80. This trade represents a 14.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Commerce Bancshares Stock Up 0.5%

CBSH traded up $0.32 on Wednesday, hitting $60.33. The company had a trading volume of 1,465,206 shares, compared to its average volume of 1,292,180. The stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of 14.61, a P/E/G ratio of 2.11 and a beta of 0.58. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a fifty day moving average price of $55.92 and a 200-day moving average price of $53.11. Commerce Bancshares, Inc. has a 12-month low of $46.99 and a 12-month high of $60.92.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last released its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $1.04 by $0.06. The business 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 period last year, the business earned $1.14 EPS. Analysts predict that Commerce Bancshares, Inc. will post 4.22 EPS for the current fiscal year.

Institutional Trading of Commerce Bancshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Commerce Bancshares by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 14,690,039 shares of the financial services provider's stock worth $768,877,000 after acquiring an additional 1,098,142 shares in the last quarter. State Street Corp increased its position in shares of Commerce Bancshares by 8.4% in the fourth quarter. State Street Corp now owns 7,318,898 shares of the financial services provider's stock valued at $383,071,000 after buying an additional 566,853 shares in the last quarter. Commerce Bank raised its stake in shares of Commerce Bancshares by 7.0% during the 4th quarter. Commerce Bank now owns 5,660,823 shares of the financial services provider's stock worth $296,287,000 after buying an additional 369,636 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Commerce Bancshares by 29.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,943,247 shares of the financial services provider's stock worth $193,999,000 after buying an additional 894,183 shares during the period. Finally, Geode Capital Management LLC grew its stake in Commerce Bancshares by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 2,780,678 shares of the financial services provider's stock valued at $147,097,000 after acquiring an additional 174,863 shares during the period. Institutional investors and hedge funds own 70.26% of the company's stock.

Analyst Ratings Changes

CBSH has been the subject of a number of research analyst reports. Morgan Stanley reiterated a "positive" rating and issued a $65.00 price target (up from $61.00) on shares of Commerce Bancshares in a research note on Monday, June 29th. Weiss Ratings upgraded shares of Commerce Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, July 21st. Piper Sandler restated a "neutral" rating and set a $66.00 price target (up from $59.00) on shares of Commerce Bancshares in a research note on Friday, July 17th. Hovde Group decreased their target price on Commerce Bancshares from $63.00 to $60.00 and set an "outperform" rating for the company in a report on Wednesday, April 22nd. Finally, Stephens set a $64.00 target price on Commerce Bancshares and gave the company an "equal weight" rating in a research report on Friday, July 17th. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Commerce Bancshares presently has an average rating of "Hold" and a consensus target price 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.

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