David Roller Sells 2,092 Shares of Commerce Bancshares (NASDAQ:CBSH) Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP David Roller sold 2,092 shares of Commerce Bancshares stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $53.32, for a total transaction of $111,545.44. Following the transaction, the senior vice president owned 28,933 shares of the company’s stock, valued at approximately $1,542,707.56. The trade was a 6.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Commerce Bancshares Stock Up 1.3%

Shares of CBSH traded up $0.72 during mid-day trading on Wednesday, reaching $54.31. 1,234,380 shares of the company’s stock were exchanged, compared to its average volume of 1,288,360. Commerce Bancshares, Inc. has a 52-week low of $48.69 and a 52-week high of $65.59. The company has a market cap of $7.19 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 2.65 and a beta of 0.62. The company has a 50-day simple moving average of $53.02 and a two-hundred day simple moving average of $54.62.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.02. Commerce Bancshares had a return on equity of 15.51% and a net margin of 26.51%.The firm had revenue of $449.36 million for the quarter, compared to analysts’ expectations of $442.47 million. During the same quarter in the prior year, the firm earned $1.01 EPS. Commerce Bancshares’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, equities research analysts predict that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Commerce Bancshares

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Commerce Bancshares by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 14,690,039 shares of the financial services provider’s stock valued at $768,877,000 after buying an additional 1,098,142 shares during the last quarter. State Street Corp lifted its stake in shares of Commerce Bancshares by 5.0% in the third quarter. State Street Corp now owns 6,752,045 shares of the financial services provider’s stock worth $403,502,000 after acquiring an additional 319,137 shares in the last quarter. American Century Companies Inc. boosted its holdings in Commerce Bancshares by 5.4% in the third quarter. American Century Companies Inc. now owns 3,972,884 shares of the financial services provider’s stock valued at $237,420,000 after purchasing an additional 202,758 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Commerce Bancshares by 7.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,643,001 shares of the financial services provider’s stock valued at $157,942,000 after purchasing an additional 177,076 shares in the last quarter. Finally, Boston Trust Walden Corp increased its holdings in Commerce Bancshares by 9.5% during the 4th quarter. Boston Trust Walden Corp now owns 2,084,628 shares of the financial services provider’s stock worth $109,109,000 after purchasing an additional 181,266 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Zacks Research downgraded shares of Commerce Bancshares from a “hold” rating to a “strong sell” rating in a report on Thursday, January 8th. TD Cowen decreased their target price on shares of Commerce Bancshares from $61.00 to $55.00 and set a “hold” rating on the stock in a research report on Wednesday, January 7th. Wall Street Zen downgraded Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Commerce Bancshares in a research note on Monday, December 29th. Finally, Piper Sandler set a $62.00 price objective on Commerce Bancshares and gave the company a “neutral” rating in a research report on Monday, January 26th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $61.75.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.