Commerce Bancshares, Inc. (CBSH) Vice Chairman Sells $3,028,300.00 in Stock
Commerce Bancshares, Inc. (NASDAQ:CBSH) Vice Chairman Jonathan M. Kemper sold 55,000 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $55.06, for a total value of $3,028,300.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Commerce Bancshares, Inc. (CBSH) opened at $55.76 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.68 and a quick ratio of 0.68. The company has a market capitalization of $5,798.86, a price-to-earnings ratio of 20.23, a P/E/G ratio of 3.17 and a beta of 0.80. Commerce Bancshares, Inc. has a 12 month low of $51.90 and a 12 month high of $60.61.
Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Thursday, October 12th. The financial services provider reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The firm had revenue of $304.83 million during the quarter, compared to analyst estimates of $317.28 million. Commerce Bancshares had a net margin of 23.93% and a return on equity of 12.08%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 earnings per share. research analysts predict that Commerce Bancshares, Inc. will post 2.77 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Captrust Financial Advisors acquired a new position in Commerce Bancshares during the second quarter worth $106,000. Citizens Financial Group Inc RI raised its stake in Commerce Bancshares by 25.5% during the second quarter. Citizens Financial Group Inc RI now owns 2,650 shares of the financial services provider’s stock worth $151,000 after acquiring an additional 539 shares in the last quarter. Mosaic Family Wealth LLC raised its stake in Commerce Bancshares by 5.8% during the second quarter. Mosaic Family Wealth LLC now owns 3,297 shares of the financial services provider’s stock worth $187,000 after acquiring an additional 181 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Commerce Bancshares by 8.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,339 shares of the financial services provider’s stock worth $190,000 after acquiring an additional 264 shares in the last quarter. Finally, SignalPoint Asset Management LLC acquired a new position in Commerce Bancshares during the third quarter worth $226,000. Institutional investors and hedge funds own 59.15% of the company’s stock.
A number of research analysts have recently commented on the company. BidaskClub lowered Commerce Bancshares from a “sell” rating to a “strong sell” rating in a report on Saturday. Zacks Investment Research lowered Commerce Bancshares from a “buy” rating to a “hold” rating in a report on Monday, September 18th. Piper Jaffray Companies reiterated a “neutral” rating and set a $60.00 price target on shares of Commerce Bancshares in a report on Friday, October 6th. Finally, Keefe, Bruyette & Woods restated a “sell” rating and issued a $51.00 target price on shares of Commerce Bancshares in a research note on Friday, September 15th. Six equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Commerce Bancshares presently has an average rating of “Sell” and a consensus target price of $56.63.
COPYRIGHT VIOLATION NOTICE: “Commerce Bancshares, Inc. (CBSH) Vice Chairman Sells $3,028,300.00 in Stock” was published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this story on another website, it was illegally stolen and republished in violation of US & international copyright and trademark law. The correct version of this story can be read at https://www.thecerbatgem.com/2017/12/16/commerce-bancshares-inc-cbsh-vice-chairman-sells-3028300-00-in-stock.html.
Commerce Bancshares Company Profile
Commerce Bancshares, Inc is a bank holding company of Commerce Bank (the Bank). The Bank is engaged in general banking business, providing a range of retail, mortgage banking, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.
Receive News & Stock Ratings for Commerce Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commerce Bancshares and related stocks with our FREE daily email newsletter.