Kevin G. Barth Sells 24,870 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) EVP Kevin G. Barth sold 24,870 shares of Commerce Bancshares stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $66.06, for a total transaction of $1,642,912.20. Following the completion of the transaction, the executive vice president now directly owns 45,511 shares in the company, valued at $3,006,456.66. This represents a 35.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Commerce Bancshares Price Performance

Shares of CBSH opened at $66.09 on Thursday. The business’s 50-day moving average is $66.25 and its 200-day moving average is $63.95. The company has a market capitalization of $8.47 billion, a price-to-earnings ratio of 16.48, a P/E/G ratio of 3.64 and a beta of 0.79. Commerce Bancshares, Inc. has a fifty-two week low of $47.09 and a fifty-two week 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 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The firm had revenue of $422.10 million for the quarter, compared to the consensus estimate of $417.48 million. During the same period in the previous year, the firm posted $0.84 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. Equities research analysts expect that Commerce Bancshares, Inc. will post 3.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on CBSH. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, January 13th. Raymond James downgraded Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Keefe, Bruyette & Woods lifted their price target on Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Wells Fargo & Company upped their price objective on shares of Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Piper Sandler lifted their target price on shares of Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $67.83.

Institutional Trading of Commerce Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of the company. Los Angeles Capital Management LLC increased its stake in shares of Commerce Bancshares by 7,407.2% during 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 during the last quarter. Boston Trust Walden Corp boosted its holdings in Commerce Bancshares by 17.6% in 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 in the last quarter. Millennium Management LLC increased its position 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 buying an additional 214,582 shares during the last quarter. Geode Capital Management LLC raised its holdings in Commerce Bancshares by 7.3% during the third quarter. Geode Capital Management LLC now owns 2,396,740 shares of the financial services provider’s stock valued at $142,951,000 after buying an additional 163,782 shares in the last quarter. Finally, NFJ Investment Group LLC boosted its stake in shares of Commerce Bancshares by 17.7% during the 3rd quarter. NFJ Investment Group LLC now owns 707,168 shares of the financial services provider’s stock worth $42,006,000 after acquiring an additional 106,316 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

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.