David Roller Sells 1,134 Shares of Commerce Bancshares (NASDAQ:CBSH) Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP David Roller sold 1,134 shares of Commerce Bancshares stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $54.48, for a total value of $61,780.32. Following the sale, the senior vice president directly owned 30,535 shares of the company’s stock, valued at $1,663,546.80. This trade represents a 3.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Commerce Bancshares Stock Performance

Commerce Bancshares stock traded up $0.08 during trading hours on Thursday, reaching $54.39. 1,520,167 shares of the stock were exchanged, compared to its average volume of 1,298,015. The firm’s 50 day moving average is $53.08 and its 200 day moving average is $54.61. Commerce Bancshares, Inc. has a 52-week low of $48.69 and a 52-week high of $65.59. The stock has a market cap of $7.20 billion, a P/E ratio of 12.98, a P/E/G ratio of 2.67 and a beta of 0.62.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. Commerce Bancshares had a return on equity of 15.51% and a net margin of 26.51%.The firm had revenue of $449.36 million during the quarter, compared to analysts’ expectations of $442.47 million. During the same quarter last year, the business posted $1.01 EPS. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. Equities research analysts expect that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Daytona Street Capital LLC acquired a new position in shares of Commerce Bancshares during the fourth quarter worth approximately $25,000. Danske Bank A S bought a new position in shares of Commerce Bancshares in the third quarter worth $25,000. Geneos Wealth Management Inc. boosted its holdings in Commerce Bancshares by 85.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 216 shares during the period. Quent Capital LLC purchased a new position in Commerce Bancshares in the 3rd quarter worth approximately $31,000. Finally, CoreFirst Bank & Trust purchased a new stake in Commerce Bancshares in the second quarter worth approximately $33,000. 70.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on CBSH shares. Zacks Research cut Commerce Bancshares from a “hold” rating to a “strong sell” rating in a report on Thursday, January 8th. Piper Sandler set a $62.00 price objective on shares of Commerce Bancshares and gave the company a “neutral” rating in a research report on Monday, January 26th. Wall Street Zen lowered shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Commerce Bancshares in a research report on Monday, December 29th. Finally, Keefe, Bruyette & Woods lowered their price target on Commerce Bancshares from $61.90 to $57.14 and set a “market perform” rating for the company in a report on Friday, October 17th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Commerce Bancshares presently has a consensus rating of “Reduce” and a consensus target price of $61.75.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.