Insider Selling: Commerce Bancshares, Inc. (NASDAQ:CBSH) Director Sells 19,626 Shares of Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) Director Jonathan M. Kemper sold 19,626 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $63.66, for a total value of $1,249,391.16. Following the sale, the director now directly owns 997,112 shares of the company’s stock, valued at $63,476,149.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Commerce Bancshares Price Performance

CBSH traded down $0.19 during trading on Wednesday, reaching $63.81. 494,421 shares of the stock were exchanged, compared to its average volume of 498,807. The business’s 50 day moving average price is $56.07 and its two-hundred day moving average price is $54.06. The company has a market capitalization of $8.27 billion, a price-to-earnings ratio of 17.85 and a beta of 0.76. Commerce Bancshares, Inc. has a 1 year low of $40.91 and a 1 year high of $64.91.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.17. Commerce Bancshares had a return on equity of 16.50% and a net margin of 23.62%. The business had revenue of $414.90 million for the quarter, compared to the consensus estimate of $406.88 million. During the same period in the prior year, the business earned $0.97 earnings per share. The business’s revenue was up 4.5% on a year-over-year basis. On average, analysts anticipate that Commerce Bancshares, Inc. will post 3.77 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on CBSH shares. Jefferies Financial Group increased their price objective on Commerce Bancshares from $60.00 to $62.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Morgan Stanley lifted their price target on Commerce Bancshares from $55.00 to $58.00 and gave the company an “equal weight” rating in a research note on Monday. Raymond James upgraded Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 price target on the stock in a research note on Wednesday, April 17th. Keefe, Bruyette & Woods lifted their price target on Commerce Bancshares from $58.00 to $60.00 and gave the company a “market perform” rating in a research note on Friday, May 10th. Finally, Wells Fargo & Company lifted their price target on Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research note on Monday. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $58.86.

Institutional Trading of Commerce Bancshares

Institutional investors and hedge funds have recently made changes to their positions in the stock. BKM Wealth Management LLC purchased a new stake in shares of Commerce Bancshares in the fourth quarter valued at $29,000. Clarity Asset Management Inc. purchased a new stake in shares of Commerce Bancshares in the fourth quarter valued at $43,000. Bessemer Group Inc. lifted its position in shares of Commerce Bancshares by 86.3% in the first quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 390 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Commerce Bancshares by 156.5% in the second quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 521 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in Commerce Bancshares in the first quarter valued at $90,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

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.