John K. Handy Sells 2,722 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) EVP John K. Handy sold 2,722 shares of Commerce Bancshares 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 transaction, the executive vice president now owns 39,638 shares of the company's stock, valued at $2,643,061.84. This trade represents a 6.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Commerce Bancshares Stock Up 0.2 %

Shares of CBSH traded up $0.16 during trading hours on Friday, hitting $66.96. The company had a trading volume of 241,791 shares, compared to its average volume of 512,186. Commerce Bancshares, Inc. has a 52-week low of $47.09 and a 52-week high of $72.75. The stock's 50 day moving average price is $66.15 and its 200 day moving average price is $63.97. The firm has a market cap of $8.59 billion, a P/E ratio of 16.70, a P/E/G ratio of 3.50 and a beta of 0.79.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced 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 firm had revenue of $422.10 million during the quarter, compared to the consensus estimate of $417.48 million. During the same quarter in the previous year, the company posted $0.84 earnings per share. The business's revenue was up 7.3% on a year-over-year basis. On average, research analysts expect that Commerce Bancshares, Inc. will post 3.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Raymond James downgraded shares of Commerce Bancshares from an "outperform" rating to a "market perform" rating in a report on Thursday, December 19th. Piper Sandler upped their price objective on Commerce Bancshares from $69.00 to $72.00 and gave the company a "neutral" rating in a research note on Thursday, January 23rd. Wells Fargo & Company boosted their price objective on Commerce Bancshares from $67.00 to $70.00 and gave the company an "equal weight" rating in a research note on Wednesday. Keefe, Bruyette & Woods upped their target price on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. Finally, StockNews.com upgraded shares of Commerce Bancshares from a "sell" rating to a "hold" rating in a research report on Monday, January 13th. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $67.83.

Institutional Investors Weigh In On Commerce Bancshares

Several institutional investors have recently added to or reduced their stakes in CBSH. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Commerce Bancshares in the fourth quarter valued at about $203,000. Atria Wealth Solutions Inc. increased its holdings in Commerce Bancshares by 1.5% during the 4th quarter. Atria Wealth Solutions Inc. now owns 11,062 shares of the financial services provider's stock valued at $689,000 after purchasing an additional 166 shares during the period. CIBC Asset Management Inc increased its holdings in Commerce Bancshares by 7.9% during the 4th quarter. CIBC Asset Management Inc now owns 5,715 shares of the financial services provider's stock valued at $356,000 after purchasing an additional 420 shares during the period. Sanctuary Advisors LLC raised its position in Commerce Bancshares by 4.2% during the 4th quarter. Sanctuary Advisors LLC now owns 44,717 shares of the financial services provider's stock valued at $2,987,000 after purchasing an additional 1,793 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Commerce Bancshares by 3.4% in the 4th quarter. Principal Financial Group Inc. now owns 281,040 shares of the financial services provider's stock worth $17,512,000 after buying an additional 9,362 shares during the period. Hedge funds and other 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.