Commerce Bancshares, Inc. (NASDAQ:CBSH) insider Patricia R. Kellerhals sold 218 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $58.58, for a total transaction of $12,770.44. Following the sale, the insider now directly owns 6,127 shares in the company, valued at approximately $358,919.66. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Shares of Commerce Bancshares stock traded up $0.16 during trading on Friday, hitting $59.28. The stock had a trading volume of 422,220 shares, compared to its average volume of 355,888. The stock has a market capitalization of $6.55 billion, a price-to-earnings ratio of 15.68, a price-to-earnings-growth ratio of 2.02 and a beta of 0.73. Commerce Bancshares, Inc. has a 12 month low of $53.40 and a 12 month high of $72.55. The company’s 50-day moving average price is $58.93.
Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, April 11th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.06). Commerce Bancshares had a return on equity of 15.65% and a net margin of 30.39%. The company had revenue of $324.73 million during the quarter, compared to analysts’ expectations of $333.99 million. Analysts anticipate that Commerce Bancshares, Inc. will post 3.65 earnings per share for the current year.
A number of large investors have recently made changes to their positions in the stock. Segall Bryant & Hamill LLC grew its position in Commerce Bancshares by 4.9% in the fourth quarter. Segall Bryant & Hamill LLC now owns 3,573 shares of the financial services provider’s stock worth $201,000 after acquiring an additional 168 shares in the last quarter. Commonwealth Equity Services LLC grew its position in Commerce Bancshares by 1.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 12,503 shares of the financial services provider’s stock worth $704,000 after acquiring an additional 169 shares in the last quarter. Gemmer Asset Management LLC grew its position in Commerce Bancshares by 79.4% in the first quarter. Gemmer Asset Management LLC now owns 452 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 200 shares in the last quarter. Hancock Whitney Corp grew its position in Commerce Bancshares by 5.0% in the fourth quarter. Hancock Whitney Corp now owns 4,268 shares of the financial services provider’s stock worth $241,000 after acquiring an additional 203 shares in the last quarter. Finally, Vaughan David Investments LLC IL grew its position in Commerce Bancshares by 1.0% in the fourth quarter. Vaughan David Investments LLC IL now owns 19,825 shares of the financial services provider’s stock worth $1,118,000 after acquiring an additional 205 shares in the last quarter. Institutional investors own 63.02% of the company’s stock.
A number of equities research analysts have issued reports on the stock. Raymond James cut shares of First Midwest Bancorp to a “hold” rating in a report on Monday, July 8th. DA Davidson decreased their price target on shares of Commerce Bancshares to $60.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. BidaskClub raised shares of Zai Lab from a “buy” rating to a “strong-buy” rating in a report on Friday, June 28th. Zacks Investment Research raised shares of Eutelsat Communications from a “hold” rating to a “strong-buy” rating and set a $21.00 price target on the stock in a report on Wednesday, June 12th. Finally, Stephens started coverage on shares of Falcon Minerals in a report on Thursday, April 11th. They issued an “overweight” rating and a $12.00 price target on the stock. Three analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $60.20.
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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