Insider Selling: Commerce Bancshares, Inc. (CBSH) Chairman Sells 7,315 Shares of Stock
Commerce Bancshares, Inc. (NASDAQ:CBSH) Chairman David W. Kemper sold 7,315 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $57.38, for a total transaction of $419,734.70. Following the completion of the transaction, the chairman now owns 1,279,276 shares of the company’s stock, valued at $73,404,856.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Commerce Bancshares, Inc. (NASDAQ:CBSH) traded up $1.37 during mid-day trading on Wednesday, hitting $58.89. 503,339 shares of the company traded hands, compared to its average volume of 478,456. The firm has a market capitalization of $6,140.00, a PE ratio of 19.90, a P/E/G ratio of 2.14 and a beta of 0.77. Commerce Bancshares, Inc. has a twelve month low of $51.90 and a twelve month high of $60.61.
Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.71 by $0.03. The business had revenue of $314.22 million during the quarter, compared to analysts’ expectations of $312.98 million. Commerce Bancshares had a net margin of 25.27% and a return on equity of 12.22%. equities research analysts forecast that Commerce Bancshares, Inc. will post 3.36 EPS for the current fiscal year.
Several research analysts have commented on CBSH shares. BidaskClub cut shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, January 30th. Zacks Investment Research upgraded shares of Commerce Bancshares from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a report on Monday, January 8th. Keefe, Bruyette & Woods reiterated a “sell” rating and issued a $54.00 target price on shares of Commerce Bancshares in a report on Friday, January 19th. Piper Jaffray Companies reiterated a “hold” rating and issued a $58.00 target price on shares of Commerce Bancshares in a report on Tuesday, January 9th. Finally, Barclays reiterated a “hold” rating and issued a $63.00 target price on shares of Commerce Bancshares in a report on Sunday, January 21st. Four investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Commerce Bancshares presently has an average rating of “Hold” and a consensus target price of $57.13.
Several hedge funds have recently bought and sold shares of CBSH. Tower Research Capital LLC TRC boosted its holdings in shares of Commerce Bancshares by 189.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,211 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 1,448 shares during the period. SignalPoint Asset Management LLC acquired a new stake in shares of Commerce Bancshares during the third quarter worth approximately $226,000. Wedbush Securities Inc. acquired a new stake in shares of Commerce Bancshares during the third quarter worth approximately $229,000. Cetera Investment Advisers acquired a new stake in shares of Commerce Bancshares during the second quarter worth approximately $272,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Commerce Bancshares during the third quarter worth approximately $283,000. Institutional investors and hedge funds own 59.77% of the company’s stock.
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About Commerce Bancshares
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.
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