Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Michael J. Petrie sold 618 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $57.13, for a total value of $35,306.34. Following the completion of the sale, the senior vice president now directly owns 10,375 shares of the company’s stock, valued at approximately $592,723.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Commerce Bancshares, Inc. (CBSH) traded up $1.37 during trading hours on Wednesday, hitting $58.89. The company had a trading volume of 503,339 shares, compared to its average volume of 478,456. Commerce Bancshares, Inc. has a twelve month low of $51.90 and a twelve month high of $60.61. The stock has a market capitalization of $6,140.00, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 2.14 and a beta of 0.77.
Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.74 earnings per share (EPS) 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 business had revenue of $314.22 million during the quarter, compared to analyst estimates of $312.98 million. equities analysts anticipate that Commerce Bancshares, Inc. will post 3.36 EPS for the current year.
Large investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC raised its holdings in shares of Commerce Bancshares by 189.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,211 shares of the financial services provider’s stock worth $123,000 after acquiring an additional 1,448 shares in the last quarter. SignalPoint Asset Management LLC purchased a new stake in shares of Commerce Bancshares during the third quarter worth $226,000. Wedbush Securities Inc. purchased a new stake in shares of Commerce Bancshares during the third quarter worth $229,000. Cetera Investment Advisers purchased a new stake in shares of Commerce Bancshares during the second quarter worth $272,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Commerce Bancshares during the third quarter worth $283,000. Institutional investors and hedge funds own 59.77% of the company’s stock.
Several analysts have recently commented on the company. BidaskClub raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, February 5th. Zacks Investment Research cut Commerce Bancshares from a “buy” rating to a “hold” rating in a research report on Tuesday. Barclays reaffirmed a “hold” rating and issued a $63.00 target price on shares of Commerce Bancshares in a research report on Sunday, January 21st. Keefe, Bruyette & Woods reaffirmed a “sell” rating and issued a $54.00 target price on shares of Commerce Bancshares in a research report on Friday, January 19th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $58.00 target price on shares of Commerce Bancshares in a research report on Tuesday, January 9th. Four analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $57.13.
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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.
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