Commerce Bancshares, Inc. (CBSH) Insider Jeffery D. Aberdeen Sells 687 Shares
Commerce Bancshares, Inc. (NASDAQ:CBSH) insider Jeffery D. Aberdeen sold 687 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $59.09, for a total transaction of $40,594.83. Following the sale, the insider now owns 40,232 shares in the company, valued at approximately $2,377,308.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Commerce Bancshares, Inc. (CBSH) traded up 0.09% on Thursday, hitting $57.83. 325,844 shares of the company were exchanged. The stock’s 50-day moving average price is $57.03 and its 200-day moving average price is $56.40. The stock has a market capitalization of $5.88 billion, a P/E ratio of 20.96 and a beta of 0.81. Commerce Bancshares, Inc. has a 52-week low of $44.27 and a 52-week high of $60.61.
Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, July 13th. The financial services provider reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.05. Commerce Bancshares had a return on equity of 12.01% and a net margin of 23.79%. The firm had revenue of $305.89 million during the quarter, compared to the consensus estimate of $309.44 million. During the same period in the prior year, the company earned $0.70 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts anticipate that Commerce Bancshares, Inc. will post $2.94 earnings per share for the current fiscal year.
TRADEMARK VIOLATION NOTICE: This story was published by American Banking News and is the sole property of of American Banking News. If you are viewing this story on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this story can be accessed at https://www.americanbankingnews.com/2017/07/27/commerce-bancshares-inc-cbsh-insider-jeffery-d-aberdeen-sells-687-shares.html.
A number of equities research analysts have commented on the stock. Barclays PLC set a $58.00 target price on shares of Commerce Bancshares and gave the stock a “hold” rating in a research note on Sunday, July 16th. Zacks Investment Research upgraded shares of Commerce Bancshares from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research note on Monday, July 17th. Stephens reiterated an “equal weight” rating and set a $56.00 price objective (up previously from $52.00) on shares of Commerce Bancshares in a research report on Monday, July 17th. Piper Jaffray Companies reiterated a “hold” rating and set a $52.00 price objective on shares of Commerce Bancshares in a research report on Friday, July 14th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $61.00 price objective on shares of Commerce Bancshares in a research report on Friday, July 14th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $55.00.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Profund Advisors LLC increased its position in Commerce Bancshares by 3.6% in the first quarter. Profund Advisors LLC now owns 15,400 shares of the financial services provider’s stock valued at $865,000 after buying an additional 530 shares in the last quarter. UMB Bank N A MO boosted its stake in shares of Commerce Bancshares by 4.6% in the first quarter. UMB Bank N A MO now owns 188,199 shares of the financial services provider’s stock valued at $10,569,000 after buying an additional 8,346 shares during the last quarter. Speece Thorson Capital Group Inc. boosted its stake in shares of Commerce Bancshares by 2.8% in the first quarter. Speece Thorson Capital Group Inc. now owns 148,016 shares of the financial services provider’s stock valued at $8,313,000 after buying an additional 4,028 shares during the last quarter. Retirement Systems of Alabama boosted its stake in shares of Commerce Bancshares by 7.4% in the first quarter. Retirement Systems of Alabama now owns 223,121 shares of the financial services provider’s stock valued at $12,530,000 after buying an additional 15,286 shares during the last quarter. Finally, DnB Asset Management AS bought a new stake in shares of Commerce Bancshares during the first quarter valued at about $3,477,000. 62.05% of the stock is owned by hedge funds and other institutional investors.
Commerce Bancshares Company Profile
Commerce Bancshares, Inc is a bank holding company of Commerce Bank (the Bank). The Bank is engaged in general banking business, providing a range of retail, mortgage banking, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.
Receive News & Ratings for Commerce Bancshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commerce Bancshares Inc. and related companies with MarketBeat.com's FREE daily email newsletter.