Commerce Bancshares, Inc. (NASDAQ:CBSH) VP David L. Orf sold 592 shares of the stock in a transaction on Friday, February 19th. The shares were sold at an average price of $74.07, for a total value of $43,849.44. Following the completion of the transaction, the vice president now directly owns 13,851 shares in the company, valued at approximately $1,025,943.57. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
CBSH stock opened at $74.25 on Tuesday. The stock has a 50-day moving average price of $70.63 and a two-hundred day moving average price of $63.94. The stock has a market cap of $8.70 billion, a PE ratio of 27.65 and a beta of 0.96. Commerce Bancshares, Inc. has a 1 year low of $43.34 and a 1 year high of $74.94.
Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Tuesday, January 19th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.17. The firm had revenue of $344.90 million during the quarter, compared to analysts’ expectations of $347.85 million. Commerce Bancshares had a return on equity of 10.49% and a net margin of 23.67%. The company’s revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.81 EPS. On average, equities analysts expect that Commerce Bancshares, Inc. will post 2.78 earnings per share for the current year.
A number of analysts recently commented on the stock. Morgan Stanley upped their price objective on shares of Commerce Bancshares from $60.00 to $61.00 and gave the company an “underweight” rating in a research report on Wednesday, January 27th. Zacks Investment Research cut shares of Commerce Bancshares from a “strong-buy” rating to a “hold” rating and set a $67.00 price objective for the company. in a research report on Tuesday, December 8th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $58.80.
A number of hedge funds have recently added to or reduced their stakes in the business. Aristotle Capital Management LLC increased its holdings in Commerce Bancshares by 7.5% during the 4th quarter. Aristotle Capital Management LLC now owns 7,964,067 shares of the financial services provider’s stock worth $523,239,000 after purchasing an additional 553,101 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Commerce Bancshares by 0.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,965,194 shares of the financial services provider’s stock worth $129,114,000 after purchasing an additional 16,701 shares in the last quarter. 3D L Capital Management LLC bought a new position in shares of Commerce Bancshares in the 4th quarter valued at about $1,370,000. Truist Financial Corp grew its holdings in shares of Commerce Bancshares by 33.0% in the 4th quarter. Truist Financial Corp now owns 63,825 shares of the financial services provider’s stock valued at $4,194,000 after acquiring an additional 15,839 shares in the last quarter. Finally, United Capital Financial Advisers LLC grew its holdings in shares of Commerce Bancshares by 5.0% in the 4th quarter. United Capital Financial Advisers LLC now owns 162,868 shares of the financial services provider’s stock valued at $10,700,000 after acquiring an additional 7,749 shares in the last quarter. Hedge funds and other institutional investors own 62.87% of the company’s stock.
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. 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 banking services.
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