Commerce Bancshares, Inc. (NASDAQ:CBSH) EVP Kevin G. Barth Sells 24,870 Shares

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 value 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 $3,006,456.66. This represents a 35.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Commerce Bancshares Trading Down 0.5 %

Shares of NASDAQ CBSH opened at $66.61 on Wednesday. Commerce Bancshares, Inc. has a 1 year low of $47.09 and a 1 year high of $72.75. The firm’s 50-day moving average is $66.34 and its 200-day moving average is $63.93. The firm has a market capitalization of $8.54 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 3.64 and a beta of 0.79.

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

Analyst Ratings Changes

Several analysts have recently commented on CBSH shares. Piper Sandler increased their target price on Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Wells Fargo & Company increased their price objective on shares of Commerce Bancshares from $62.00 to $67.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Keefe, Bruyette & Woods increased their price target 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. Finally, Raymond James cut shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Seven equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, Commerce Bancshares presently has an average rating of “Hold” and an average target price of $67.33.

Institutional Inflows and Outflows

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

Commerce Bancshares Company Profile

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.