Commerce Bancshares (NASDAQ:CBSH) EVP Sells 5,000 Shares of Stock

Key Points

• Commerce Bancshares EVP Robert Holmes sold 5,000 shares at an average price of $60.20, generating $301,000. Following the sale, he directly owned 55,962 shares, an 8.2% reduction in his holdings.
• The stock traded down 0.2% to $59.32 and remains near its 12-month high of $60.92. Commerce Bancshares recently beat quarterly expectations, reporting $1.10 in EPS versus the $1.04 consensus and revenue of $498.91 million.
• Analysts maintain a consensus “Hold” rating, with an average price target of $62.43. Institutional investors own approximately 70.26% of the company’s outstanding shares.

Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) EVP Robert Holmes sold 5,000 shares of the firm's stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $60.20, for a total value of $301,000.00. Following the completion of the sale, the executive vice president directly owned 55,962 shares in the company, valued at $3,368,912.40. The trade was a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Commerce Bancshares Trading Down 0.2%

NASDAQ:CBSH traded down $0.12 during mid-day trading on Friday, reaching $59.32. 565,872 shares of the company's stock traded hands, compared to its average volume of 1,285,214. The company has a 50 day moving average price of $56.23 and a 200-day moving average price of $53.18. The firm has a market capitalization of $8.65 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 2.16 and a beta of 0.58. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.82 and a quick ratio of 0.82. 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 data on Thursday, July 16th. The financial services provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.06. Commerce Bancshares had a return on equity of 14.31% and a net margin of 26.07%.The business had revenue of $498.91 million during the quarter, compared to analysts' expectations of $492.22 million. During the same quarter last year, the business posted $1.14 EPS. On average, sell-side analysts predict that Commerce Bancshares, Inc. will post 4.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wells Fargo & Company upped their price objective on shares of Commerce Bancshares from $53.00 to $57.00 and gave the stock an "equal weight" rating in a report on Monday, July 6th. Stephens set a $64.00 price target on shares of Commerce Bancshares and gave the company an "equal weight" rating in a research report on Friday, July 17th. Hovde Group decreased their price target on shares of Commerce Bancshares from $63.00 to $60.00 and set an "outperform" rating for the company in a research note on Wednesday, April 22nd. TD Cowen restated a "hold" rating and issued a $63.00 price objective (up from $62.00) on shares of Commerce Bancshares in a report on Friday, July 17th. Finally, Wall Street Zen raised Commerce Bancshares from a "sell" rating to a "hold" rating in a research report on Tuesday. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Commerce Bancshares currently has a consensus rating of "Hold" and an average target price of $62.43.

Institutional Investors Weigh In On Commerce Bancshares

Several hedge funds have recently bought and sold shares of the business. Apriem Advisors raised its position in shares of Commerce Bancshares by 5.0% in the 4th quarter. Apriem Advisors now owns 4,018 shares of the financial services provider's stock valued at $210,000 after purchasing an additional 191 shares during the last quarter. Heartland Bank & Trust Co boosted its stake in Commerce Bancshares by 4.4% in the 4th quarter. Heartland Bank & Trust Co now owns 4,595 shares of the financial services provider's stock worth $240,000 after purchasing an additional 192 shares in the last quarter. Outlook Wealth Advisors LLC grew its position in Commerce Bancshares by 3.7% during the 4th quarter. Outlook Wealth Advisors LLC now owns 5,934 shares of the financial services provider's stock worth $311,000 after purchasing an additional 214 shares during the last quarter. Centerpoint Advisory Group grew its position in Commerce Bancshares by 5.0% during the 4th quarter. Centerpoint Advisory Group now owns 4,534 shares of the financial services provider's stock worth $237,000 after purchasing an additional 215 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in Commerce Bancshares by 85.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 216 shares in the last quarter. Institutional investors own 70.26% of the company's stock.

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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