Commerce Bancshares, Inc. (NASDAQ:CBSH) EVP John K. Handy Sells 2,722 Shares of Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) EVP John K. Handy sold 2,722 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $66.68, for a total value of $181,502.96. Following the completion of the sale, the executive vice president now owns 39,638 shares in the company, valued at approximately $2,643,061.84. This represents a 6.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Commerce Bancshares Price Performance

Shares of Commerce Bancshares stock opened at $66.61 on Wednesday. The business has a 50 day simple moving average of $66.34 and a two-hundred day simple moving average of $63.93. The stock has a market capitalization of $8.54 billion, a P/E ratio of 16.61, a PEG ratio of 3.64 and a beta of 0.79. Commerce Bancshares, Inc. has a 12 month low of $47.09 and a 12 month high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The company had revenue of $422.10 million for the quarter, compared to analyst estimates of $417.48 million. During the same quarter last year, the firm posted $0.84 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, research analysts anticipate that Commerce Bancshares, Inc. will post 3.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on CBSH. Keefe, Bruyette & Woods raised their price target on shares of Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Wells Fargo & Company lifted their price target on Commerce Bancshares from $62.00 to $67.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. Raymond James downgraded Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Piper Sandler increased their target price on Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, According to MarketBeat, Commerce Bancshares has a consensus rating of “Hold” and an average price target of $67.33.

Hedge Funds Weigh In On Commerce Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Los Angeles Capital Management LLC lifted its stake in Commerce Bancshares by 7,407.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 362,900 shares of the financial services provider’s stock worth $21,556,000 after purchasing an additional 358,066 shares in the last quarter. Boston Trust Walden Corp increased its position in Commerce Bancshares by 17.6% during the fourth quarter. Boston Trust Walden Corp now owns 1,468,854 shares of the financial services provider’s stock worth $91,524,000 after purchasing an additional 219,826 shares during the last quarter. Millennium Management LLC raised its stake in Commerce Bancshares by 168.3% during the second quarter. Millennium Management LLC now owns 342,084 shares of the financial services provider’s stock worth $19,081,000 after purchasing an additional 214,582 shares during the period. Geode Capital Management LLC boosted its holdings in Commerce Bancshares by 7.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,396,740 shares of the financial services provider’s stock valued at $142,951,000 after purchasing an additional 163,782 shares during the last quarter. Finally, NFJ Investment Group LLC grew its stake in shares of Commerce Bancshares by 17.7% in the 3rd quarter. NFJ Investment Group LLC now owns 707,168 shares of the financial services provider’s stock valued at $42,006,000 after buying an additional 106,316 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

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 in the United States. It operates through three segments: Consumer, Commercial, and Wealth.