Commerce Bancshares, Inc. (NASDAQ:CBSH) insider Jeffrey M. Burik sold 2,303 shares of the stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $65.02, for a total value of $149,741.06. Following the completion of the transaction, the insider now directly owns 18,358 shares of the company’s stock, valued at $1,193,637.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Shares of NASDAQ:CBSH opened at $67.00 on Friday. The firm has a market capitalization of $6.98 billion, a price-to-earnings ratio of 24.19, a P/E/G ratio of 1.95 and a beta of 0.65. Commerce Bancshares, Inc. has a 52-week low of $54.24 and a 52-week high of $72.55.
Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Thursday, October 11th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.07. The company had revenue of $331.47 million during the quarter, compared to analysts’ expectations of $330.91 million. Commerce Bancshares had a return on equity of 15.56% and a net margin of 30.97%. As a group, equities research analysts anticipate that Commerce Bancshares, Inc. will post 3.95 earnings per share for the current year.
Several research firms recently commented on CBSH. BidaskClub raised Commerce Bancshares from a “hold” rating to a “buy” rating in a research note on Friday, September 7th. Zacks Investment Research raised Commerce Bancshares from a “hold” rating to a “strong-buy” rating and set a $78.00 price objective for the company in a research note on Tuesday, July 17th. Morgan Stanley increased their price objective on Commerce Bancshares from $60.00 to $63.00 and gave the company an “underweight” rating in a research note on Tuesday, July 17th. Stephens reissued a “hold” rating and issued a $65.00 price objective on shares of Commerce Bancshares in a research note on Thursday, July 12th. Finally, Bank of America set a $68.00 price objective on Commerce Bancshares and gave the company a “sell” rating in a research note on Friday, July 13th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $64.33.
A number of large investors have recently modified their holdings of the business. Janus Henderson Group PLC grew its holdings in Commerce Bancshares by 22.8% in the 3rd quarter. Janus Henderson Group PLC now owns 83,794 shares of the financial services provider’s stock valued at $5,532,000 after buying an additional 15,565 shares in the last quarter. Commonwealth Bank of Australia purchased a new stake in Commerce Bancshares in the 3rd quarter valued at $382,000. ING Groep NV purchased a new stake in Commerce Bancshares in the 3rd quarter valued at $370,000. Donaldson Capital Management LLC purchased a new stake in Commerce Bancshares in the 3rd quarter valued at $288,000. Finally, Meyer Handelman Co. purchased a new stake in Commerce Bancshares in the 3rd quarter valued at $1,701,000. Institutional investors own 64.82% of the company’s stock.
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About Commerce Bancshares
Commerce Bancshares, Inc operates as the holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online, mobile, and telephone banking services.
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