Insider Selling: Commerce Bancshares, Inc. (NASDAQ:CBSH) EVP Sells 24,870 Shares of Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) EVP Kevin G. Barth sold 24,870 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $66.06, for a total transaction of $1,642,912.20. Following the sale, the executive vice president now owns 45,511 shares in the company, valued at $3,006,456.66. The trade was a 35.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Commerce Bancshares Stock Up 0.3 %

CBSH stock traded up $0.18 during midday trading on Friday, hitting $66.98. The company's stock had a trading volume of 241,791 shares, compared to its average volume of 512,186. The stock's 50-day moving average price is $66.15 and its 200 day moving average price is $63.97. The stock has a market cap of $8.59 billion, a price-to-earnings ratio of 16.70, a PEG ratio of 3.50 and a beta of 0.79. Commerce Bancshares, Inc. has a 1 year low of $47.09 and a 1 year high of $72.75.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.06. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The firm had revenue of $422.10 million for the quarter, compared to analysts' expectations of $417.48 million. During the same period in the previous year, the company earned $0.84 earnings per share. The company's quarterly revenue was up 7.3% on a year-over-year basis. As a group, equities analysts forecast that Commerce Bancshares, Inc. will post 3.9 earnings per share for the current fiscal year.

Institutional Trading of Commerce Bancshares

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

Wall Street Analysts Forecast Growth

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

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.