Commerce Bancshares, Inc. (NASDAQ:CBSH) insider Sara E. Foster sold 1,168 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $58.00, for a total value of $67,744.00. Following the sale, the insider now owns 47,031 shares of the company’s stock, valued at $2,727,798. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Commerce Bancshares, Inc. (CBSH) traded up $1.37 during midday trading on Wednesday, hitting $58.89. The stock had a trading volume of 503,339 shares, compared to its average volume of 478,456. Commerce Bancshares, Inc. has a 52 week low of $51.90 and a 52 week high of $60.61. The stock has a market capitalization of $6,140.00, a P/E ratio of 19.90, a price-to-earnings-growth ratio of 2.14 and a beta of 0.77.
Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Thursday, January 18th. The financial services provider reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.03. Commerce Bancshares had a return on equity of 12.22% and a net margin of 25.27%. The company had revenue of $314.22 million during the quarter, compared to the consensus estimate of $312.98 million. equities research analysts anticipate that Commerce Bancshares, Inc. will post 3.36 earnings per share for the current year.
Several equities research analysts have commented on the company. Barclays restated a “hold” rating and set a $63.00 price target on shares of Commerce Bancshares in a research note on Sunday, January 21st. Keefe, Bruyette & Woods restated a “sell” rating and set a $54.00 price target on shares of Commerce Bancshares in a research note on Friday, January 19th. BidaskClub lowered Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, January 30th. Finally, Zacks Investment Research lowered Commerce Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday. Four investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Commerce Bancshares currently has an average rating of “Hold” and a consensus price target of $57.13.
Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in shares of Commerce Bancshares by 3.4% in the third quarter. Bank of New York Mellon Corp now owns 1,083,851 shares of the financial services provider’s stock worth $62,613,000 after buying an additional 35,361 shares during the period. Cetera Investment Advisers purchased a new position in Commerce Bancshares in the second quarter valued at about $272,000. Nuance Investments LLC boosted its holdings in Commerce Bancshares by 4.3% in the third quarter. Nuance Investments LLC now owns 996,414 shares of the financial services provider’s stock valued at $57,563,000 after purchasing an additional 40,997 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in Commerce Bancshares in the third quarter valued at about $478,000. Finally, Schroder Investment Management Group boosted its holdings in Commerce Bancshares by 1.5% in the third quarter. Schroder Investment Management Group now owns 844,628 shares of the financial services provider’s stock valued at $48,491,000 after purchasing an additional 12,843 shares during the last quarter. 59.77% 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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