Insider Selling: Commerce Bancshares (NASDAQ:CBSH) CEO Sells $353,181.40 in Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) CEO John Kemper sold 5,830 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $60.58, for a total value of $353,181.40. Following the completion of the transaction, the chief executive officer owned 206,528 shares in the company, valued at approximately $12,511,466.24. This represents a 2.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Commerce Bancshares Stock Performance

Shares of NASDAQ:CBSH opened at $59.27 on Friday. The stock has a market capitalization of $8.64 billion, a P/E ratio of 14.35, a P/E/G ratio of 2.12 and a beta of 0.58. Commerce Bancshares, Inc. has a 1-year low of $46.99 and a 1-year high of $60.92. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $56.37 and a two-hundred day moving average price of $53.23.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Thursday, July 16th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.06. The company had revenue of $498.91 million for the quarter, compared to the consensus estimate of $492.22 million. Commerce Bancshares had a net margin of 26.07% and a return on equity of 14.31%. During the same period in the prior year, the company posted $1.14 EPS. Equities analysts predict that Commerce Bancshares, Inc. will post 4.22 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Hovde Group reduced their price objective on shares of Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 22nd. Wall Street Zen upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, July 28th. TD Cowen reissued a “hold” rating and issued a $63.00 price target (up from $62.00) on shares of Commerce Bancshares in a research note on Friday, July 17th. Weiss Ratings raised Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 21st. Finally, Keefe, Bruyette & Woods raised their price target on Commerce Bancshares from $60.00 to $62.00 and gave the stock a “market perform” rating in a research report on Monday, July 20th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Commerce Bancshares presently has an average rating of “Hold” and an average target price of $62.43.

Institutional Trading of Commerce Bancshares

Institutional investors have recently modified their holdings of the company. Geneos Wealth Management Inc. boosted its holdings in shares of 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 buying an additional 216 shares during the last quarter. Invesco Ltd. increased its holdings in Commerce Bancshares by 2.0% during the second quarter. Invesco Ltd. now owns 865,052 shares of the financial services provider’s stock worth $53,780,000 after buying an additional 16,610 shares during the last quarter. Cresset Asset Management LLC raised its position in Commerce Bancshares by 3.0% during the second quarter. Cresset Asset Management LLC now owns 10,151 shares of the financial services provider’s stock worth $631,000 after acquiring an additional 300 shares in the last quarter. Jump Financial LLC bought a new stake in Commerce Bancshares during the second quarter worth $376,000. Finally, California Public Employees Retirement System lifted its stake in Commerce Bancshares by 4.8% in the second quarter. California Public Employees Retirement System now owns 208,148 shares of the financial services provider’s stock valued at $12,941,000 after acquiring an additional 9,483 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

About Commerce Bancshares

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.