Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Sells $55,362.30 in Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP David L. Roller sold 861 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $64.30, for a total value of $55,362.30. Following the completion of the sale, the senior vice president now owns 30,949 shares of the company’s stock, valued at approximately $1,990,020.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Commerce Bancshares Price Performance

CBSH stock traded down $0.31 on Wednesday, reaching $63.69. 829,253 shares of the company traded hands, compared to its average volume of 501,181. Commerce Bancshares, Inc. has a one year low of $40.91 and a one year high of $64.91. The company has a market cap of $8.25 billion, a P/E ratio of 17.80 and a beta of 0.76. The firm has a fifty day simple moving average of $56.07 and a 200-day simple moving average of $54.06.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.17. Commerce Bancshares had a return on equity of 16.50% and a net margin of 23.62%. The company had revenue of $414.90 million during the quarter, compared to analyst estimates of $406.88 million. During the same quarter last year, the company earned $0.97 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, sell-side analysts forecast that Commerce Bancshares, Inc. will post 3.77 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CBSH. Raymond James raised Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 target price for the company in a research report on Wednesday, April 17th. Jefferies Financial Group increased their target price on Commerce Bancshares from $60.00 to $62.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Wells Fargo & Company increased their target price on Commerce Bancshares from $52.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Monday. Piper Sandler increased their target price on Commerce Bancshares from $53.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Finally, Morgan Stanley increased their target price on Commerce Bancshares from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Monday. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $58.86.

Institutional Trading of Commerce Bancshares

A number of institutional investors and hedge funds have recently modified their holdings of CBSH. Raymond James Trust N.A. bought a new stake in shares of Commerce Bancshares in the 4th quarter worth $222,000. BKM Wealth Management LLC bought a new stake in shares of Commerce Bancshares in the 4th quarter worth $29,000. Pacer Advisors Inc. increased its holdings in shares of Commerce Bancshares by 86.8% in the 4th quarter. Pacer Advisors Inc. now owns 17,846 shares of the financial services provider’s stock worth $953,000 after purchasing an additional 8,292 shares in the last quarter. Meyer Handelman Co. increased its holdings in shares of Commerce Bancshares by 5.0% in the 4th quarter. Meyer Handelman Co. now owns 33,309 shares of the financial services provider’s stock worth $1,779,000 after purchasing an additional 1,585 shares in the last quarter. Finally, SignalPoint Asset Management LLC bought a new stake in shares of Commerce Bancshares in the 4th quarter worth $231,000. Institutional investors own 70.26% of the company’s stock.

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.