Insider Selling: Commerce Bancshares SVP Sells 4,055 Shares of Stock (CBSH)
Commerce Bancshares (NASDAQ:CBSH) SVP Jeffrey M. Burik unloaded 4,055 shares of Commerce Bancshares stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $45.62, for a total value of $184,989.10. Following the completion of the sale, the senior vice president now directly owns 19,191 shares of the company’s stock, valued at approximately $875,493. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Commerce Bancshares (NASDAQ:CBSH) traded up 0.76% during mid-day trading on Wednesday, hitting $46.39. 355,919 shares of the company’s stock traded hands. Commerce Bancshares has a 52-week low of $35.0095 and a 52-week high of $46.03. The stock’s 50-day moving average is $44.64 and its 200-day moving average is $43.50. The company has a market cap of $4.447 billion and a P/E ratio of 16.90.
Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Monday, January 13th. The company reported $0.69 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.71 by $0.02. During the same quarter in the prior year, the company posted $0.69 earnings per share. On average, analysts predict that Commerce Bancshares will post $2.84 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Jefferies Group cut their price target on shares of Commerce Bancshares from $47.00 to $45.00 in a research note to investors on Wednesday, January 15th. Separately, analysts at Merrill Lynch upgraded shares of Commerce Bancshares to a “neutral” rating in a research note to investors on Thursday, January 9th. Finally, analysts at Bank of America Corp. upgraded shares of Commerce Bancshares from an “underperform” rating to a “neutral” rating in a research note to investors on Thursday, January 9th. They now have a $85.00 price target on the stock, up previously from $46.00. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $51.00.
Commerce Bancshares, Inc is a bank holding company. Through a wholly owned bank holding company, it owns all of the outstanding capital stock of Commerce Bank (NASDAQ:CBSH).
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