Commerce Bancshares (NASDAQ:CBSH) SVP Derrick Brooks Sells 1,044 Shares of Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Derrick Brooks sold 1,044 shares of Commerce Bancshares stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $54.40, for a total transaction of $56,793.60. Following the completion of the transaction, the senior vice president directly owned 14,585 shares of the company’s stock, valued at approximately $793,424. This represents a 6.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Commerce Bancshares Price Performance

Shares of CBSH stock traded up $0.86 during trading hours on Friday, reaching $55.25. The stock had a trading volume of 19,292 shares, compared to its average volume of 1,246,571. The firm has a market capitalization of $7.32 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 2.71 and a beta of 0.62. Commerce Bancshares, Inc. has a twelve month low of $48.69 and a twelve month high of $65.36. The firm has a 50-day simple moving average of $53.15 and a 200-day simple moving average of $54.61.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.99 by $0.02. Commerce Bancshares had a return on equity of 15.51% and a net margin of 26.51%.The firm had revenue of $449.36 million for the quarter, compared to analysts’ expectations of $442.47 million. During the same quarter in the previous year, the company earned $1.01 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities analysts anticipate that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Hedge Funds Weigh In On Commerce Bancshares

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Commerce Bancshares by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 14,690,039 shares of the financial services provider’s stock valued at $768,877,000 after purchasing an additional 1,098,142 shares during the last quarter. State Street Corp lifted its holdings in Commerce Bancshares by 5.0% in the third quarter. State Street Corp now owns 6,752,045 shares of the financial services provider’s stock valued at $403,502,000 after buying an additional 319,137 shares during the period. American Century Companies Inc. boosted its position in shares of Commerce Bancshares by 5.4% in the 3rd quarter. American Century Companies Inc. now owns 3,972,884 shares of the financial services provider’s stock worth $237,420,000 after purchasing an additional 202,758 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Commerce Bancshares by 7.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,643,001 shares of the financial services provider’s stock worth $157,942,000 after buying an additional 177,076 shares during the period. Finally, Boston Trust Walden Corp boosted its position in shares of Commerce Bancshares by 9.5% during the fourth quarter. Boston Trust Walden Corp now owns 2,084,628 shares of the financial services provider’s stock worth $109,109,000 after purchasing an additional 181,266 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on CBSH shares. Piper Sandler set a $62.00 price objective on Commerce Bancshares and gave the company a “neutral” rating in a research report on Monday, January 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Commerce Bancshares in a research report on Monday, December 29th. Wells Fargo & Company lowered their target price on Commerce Bancshares from $61.90 to $57.14 and set an “equal weight” rating on the stock in a report on Tuesday, October 21st. TD Cowen dropped their target price on shares of Commerce Bancshares from $61.00 to $55.00 and set a “hold” rating on the stock in a research report on Wednesday, January 7th. Finally, Wall Street Zen lowered shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $61.75.

About Commerce Bancshares

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.