John K. Handy Sells 2,722 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) EVP John K. Handy sold 2,722 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $66.68, for a total transaction of $181,502.96. Following the completion of the transaction, the executive vice president now directly owns 39,638 shares of the company’s stock, valued at $2,643,061.84. This represents a 6.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Commerce Bancshares Trading Down 0.8 %

NASDAQ:CBSH opened at $66.09 on Thursday. The stock has a 50 day simple moving average of $66.25 and a 200 day simple moving average of $63.95. The stock has a market cap of $8.47 billion, a P/E ratio of 16.48, a PEG ratio of 3.64 and a beta of 0.79. Commerce Bancshares, Inc. has a 1-year low of $47.09 and a 1-year high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The company had revenue of $422.10 million during the quarter, compared to the consensus estimate of $417.48 million. During the same quarter last year, the firm earned $0.84 earnings per share. The company’s revenue was up 7.3% on a year-over-year basis. As a group, sell-side analysts forecast that Commerce Bancshares, Inc. will post 3.73 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. MTM Investment Management LLC raised its position in shares of Commerce Bancshares by 5.4% in the fourth quarter. MTM Investment Management LLC now owns 63,080 shares of the financial services provider’s stock valued at $3,931,000 after buying an additional 3,216 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Commerce Bancshares during the 4th quarter worth $203,000. Louisiana State Employees Retirement System raised its holdings in Commerce Bancshares by 4.7% in the 4th quarter. Louisiana State Employees Retirement System now owns 34,025 shares of the financial services provider’s stock valued at $2,120,000 after acquiring an additional 1,525 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of Commerce Bancshares during the 4th quarter valued at $4,319,000. Finally, Eukles Asset Management grew its holdings in shares of Commerce Bancshares by 4.8% during the 4th quarter. Eukles Asset Management now owns 9,456 shares of the financial services provider’s stock worth $589,000 after purchasing an additional 434 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Keefe, Bruyette & Woods increased their price target on shares of Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Raymond James cut Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Wells Fargo & Company upped their price objective on Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Piper Sandler increased their price target on Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Commerce Bancshares currently has an average rating of “Hold” and a consensus price target of $67.83.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc operates as the bank holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses in the United States. It operates through three segments: Consumer, Commercial, and Wealth.