Commerce Bancshares, Inc. (NASDAQ:CBSH) EVP Kevin G. Barth Sells 24,870 Shares

Commerce Bancshares, Inc. (NASDAQ:CBSH) 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 value of $1,642,912.20. Following the completion of the sale, the executive vice president now owns 45,511 shares of the company’s stock, valued at $3,006,456.66. This trade represents a 35.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Commerce Bancshares Trading Down 0.5 %

Commerce Bancshares stock opened at $66.61 on Wednesday. The stock has a 50-day moving average price of $66.34 and a two-hundred day moving average price of $63.93. Commerce Bancshares, Inc. has a 12 month low of $47.09 and a 12 month high of $72.75. The company has a market capitalization of $8.54 billion, a PE ratio of 16.61, a P/E/G ratio of 3.64 and a beta of 0.79.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) 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 net margin of 25.24% and a return on equity of 16.31%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 earnings per share. As a group, analysts predict that Commerce Bancshares, Inc. will post 3.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CBSH. Sound Stewardship LLC increased its position in Commerce Bancshares by 3.9% during the 3rd quarter. Sound Stewardship LLC now owns 4,339 shares of the financial services provider’s stock valued at $258,000 after purchasing an additional 163 shares during the period. Fifth Third Wealth Advisors LLC increased its position in shares of Commerce Bancshares by 4.9% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 3,908 shares of the financial services provider’s stock worth $244,000 after buying an additional 183 shares during the period. Verde Capital Management raised its stake in Commerce Bancshares by 5.4% during the fourth quarter. Verde Capital Management now owns 3,573 shares of the financial services provider’s stock worth $223,000 after buying an additional 183 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Commerce Bancshares by 19.6% in the fourth quarter. GAMMA Investing LLC now owns 1,139 shares of the financial services provider’s stock valued at $71,000 after buying an additional 187 shares during the period. Finally, Wealthcare Advisory Partners LLC boosted its position in Commerce Bancshares by 5.3% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 3,727 shares of the financial services provider’s stock valued at $232,000 after acquiring an additional 187 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods lifted their target price on Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler raised 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. Wells Fargo & Company upped their price target on shares of Commerce Bancshares from $62.00 to $67.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. Raymond James downgraded Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Finally, StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, January 13th. Seven equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Commerce Bancshares presently has an average rating of “Hold” and an average target price of $67.33.

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.