Commerce Bancshares, Inc. (CBSH) Vice Chairman Jonathan M. Kemper Sells 55,000 Shares
Commerce Bancshares, Inc. (NASDAQ:CBSH) Vice Chairman Jonathan M. Kemper sold 55,000 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $55.06, for a total value of $3,028,300.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Commerce Bancshares, Inc. (NASDAQ:CBSH) traded up $0.35 during trading on Wednesday, hitting $55.36. 309,800 shares of the stock traded hands, compared to its average volume of 389,878. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.04. Commerce Bancshares, Inc. has a 1 year low of $51.90 and a 1 year high of $60.61. The company has a market capitalization of $5,870.36, a P/E ratio of 20.48, a PEG ratio of 3.20 and a beta of 0.80.
Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Thursday, October 12th. The financial services provider reported $0.71 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.03). The company had revenue of $304.83 million for the quarter, compared to the consensus estimate of $317.28 million. Commerce Bancshares had a net margin of 23.93% and a return on equity of 12.08%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 EPS. research analysts expect that Commerce Bancshares, Inc. will post 2.77 earnings per share for the current year.
Several research firms have recently weighed in on CBSH. Zacks Investment Research downgraded shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday. Piper Jaffray Companies reaffirmed a “neutral” rating and set a $60.00 price target on shares of Commerce Bancshares in a research note on Friday, October 6th. Finally, Keefe, Bruyette & Woods reaffirmed a “sell” rating and set a $51.00 price target on shares of Commerce Bancshares in a research note on Friday, September 15th. Six equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The company has an average rating of “Sell” and an average target price of $56.63.
A number of large investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC bought a new position in Commerce Bancshares in the third quarter worth approximately $452,000. GSA Capital Partners LLP bought a new position in Commerce Bancshares in the third quarter worth approximately $283,000. Archford Capital Strategies LLC raised its stake in Commerce Bancshares by 25.3% in the third quarter. Archford Capital Strategies LLC now owns 5,003 shares of the financial services provider’s stock worth $289,000 after buying an additional 1,011 shares in the last quarter. Walthausen & Co. LLC raised its stake in Commerce Bancshares by 11.7% in the third quarter. Walthausen & Co. LLC now owns 115,575 shares of the financial services provider’s stock worth $6,677,000 after buying an additional 12,070 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in Commerce Bancshares in the third quarter worth approximately $1,106,000. 59.15% of the stock is owned by institutional investors.
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About Commerce Bancshares
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.
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