Insider Selling: Commerce Bancshares, Inc. (NASDAQ:CBSH) EVP Sells $181,502.96 in Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) EVP John K. Handy sold 2,722 shares of Commerce Bancshares stock in a transaction on 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 in the company, valued at $2,643,061.84. This represents a 6.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Commerce Bancshares Price Performance

CBSH stock opened at $66.80 on Friday. The stock has a market capitalization of $8.57 billion, a price-to-earnings ratio of 16.66, a price-to-earnings-growth ratio of 3.64 and a beta of 0.79. The company has a 50-day moving average of $66.15 and a two-hundred day moving average of $63.97. Commerce Bancshares, Inc. has a 52-week low of $47.09 and a 52-week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results 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. The firm had revenue of $422.10 million during the quarter, compared to the consensus estimate of $417.48 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.84 EPS. Equities analysts expect that Commerce Bancshares, Inc. will post 3.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Commerce Bancshares

Institutional investors have recently bought and sold shares of the business. V Square Quantitative Management LLC bought a new position in shares of Commerce Bancshares during the 3rd quarter worth about $26,000. Allworth Financial LP raised its position in Commerce Bancshares by 51.1% in the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 192 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Commerce Bancshares during the third quarter worth about $39,000. True Wealth Design LLC acquired a new stake in Commerce Bancshares during the third quarter valued at approximately $47,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Commerce Bancshares by 48.2% in the 3rd 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 during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CBSH. Raymond James cut Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Keefe, Bruyette & Woods upped their price objective 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. Wells Fargo & Company lifted 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 note on Wednesday. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Piper Sandler lifted their price objective on Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $67.83.

About Commerce Bancshares

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.