Commerce Bancshares (NASDAQ:CBSH) SVP Derrick Brooks Sells 1,041 Shares

Commerce Bancshares, Inc. (NASDAQ:CBSHGet Free Report) SVP Derrick Brooks sold 1,041 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $59.63, for a total transaction of $62,074.83. Following the completion of the transaction, the senior vice president owned 13,117 shares in the company, valued at approximately $782,166.71. This trade represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Commerce Bancshares Price Performance

Shares of Commerce Bancshares stock opened at $60.33 on Thursday. The stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of 14.61, a P/E/G ratio of 2.15 and a beta of 0.58. The firm’s 50-day moving average price is $56.08 and its two-hundred day moving average price is $53.14. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.01. Commerce Bancshares, Inc. has a 1-year low of $46.99 and a 1-year high of $60.92.

Commerce Bancshares (NASDAQ:CBSHGet Free Report) last posted its earnings results on Thursday, July 16th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.06. The company had revenue of $498.91 million during the quarter, compared to analysts’ expectations of $492.22 million. Commerce Bancshares had a net margin of 26.07% and a return on equity of 14.31%. During the same quarter in the previous year, the company posted $1.14 earnings per share. On average, equities analysts predict that Commerce Bancshares, Inc. will post 4.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on CBSH. Piper Sandler reiterated a “neutral” rating and issued a $66.00 price objective (up from $59.00) on shares of Commerce Bancshares in a research report on Friday, July 17th. Hovde Group decreased their target price on Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, April 22nd. Morgan Stanley restated a “positive” rating and issued a $65.00 target price (up from $61.00) on shares of Commerce Bancshares in a research note on Monday, June 29th. Stephens set a $64.00 target price on Commerce Bancshares and gave the company an “equal weight” rating in a research note on Friday, July 17th. Finally, Wall Street Zen raised Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Commerce Bancshares presently has an average rating of “Hold” and an average price target of $62.43.

Read Our Latest Research Report on CBSH

Institutional Trading of Commerce Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of CBSH. Danske Bank A S acquired a new position in Commerce Bancshares during the 3rd quarter worth $25,000. Geneos Wealth Management Inc. boosted its position in Commerce Bancshares by 85.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock valued at $29,000 after buying an additional 216 shares during the last quarter. Daytona Street Capital LLC acquired a new stake in shares of Commerce Bancshares in the 4th quarter valued at $25,000. Root Financial Partners LLC increased its stake in shares of Commerce Bancshares by 104.9% in the 1st quarter. Root Financial Partners LLC now owns 623 shares of the financial services provider’s stock valued at $31,000 after buying an additional 319 shares during the period. Finally, Laurel Wealth Advisors LLC bought a new stake in shares of Commerce Bancshares during the fourth quarter worth $34,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

About Commerce Bancshares

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Commerce Bancshares (NASDAQ:CBSH)

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