Commerce Bancshares, Inc. (NASDAQ:CBSH) VP David L. Orf sold 592 shares of Commerce Bancshares 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 sale, the vice president now directly owns 13,851 shares in the company, valued at approximately $1,025,943.57. The sale was disclosed in a legal filing with the SEC, which is available through this link.
CBSH opened at $74.25 on Tuesday. Commerce Bancshares, Inc. has a one year low of $43.34 and a one year high of $74.94. The stock’s fifty day moving average is $70.63 and its 200-day moving average is $63.94. The company has a market capitalization of $8.70 billion, a PE ratio of 27.65 and a beta of 0.96.
Commerce Bancshares (NASDAQ:CBSH) last issued 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 business had revenue of $344.90 million for 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 quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.81 EPS. Research analysts expect that Commerce Bancshares, Inc. will post 2.78 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Aristotle Capital Management LLC grew its holdings in shares of Commerce Bancshares by 7.5% in 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 acquiring an additional 553,101 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Commerce Bancshares by 0.9% in the 4th quarter. JPMorgan Chase & Co. now owns 1,965,194 shares of the financial services provider’s stock worth $129,114,000 after acquiring an additional 16,701 shares during the last quarter. 3D L Capital Management LLC acquired a new position in shares of Commerce Bancshares in the 4th quarter worth $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 worth $4,194,000 after acquiring an additional 15,839 shares during 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 worth $10,700,000 after acquiring an additional 7,749 shares during the last quarter. Institutional investors and hedge funds own 62.87% of the company’s stock.
CBSH has been the topic of several recent analyst reports. Zacks Investment Research downgraded Commerce Bancshares from a “strong-buy” rating to a “hold” rating and set a $67.00 target price on the stock. in a research note on Tuesday, December 8th. Morgan Stanley boosted their price objective on Commerce Bancshares from $60.00 to $61.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 27th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Commerce Bancshares currently has a consensus rating of “Hold” and an average target price of $58.80.
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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