Commerce Bancshares, Inc. (NASDAQ:CBSH – Get Free Report) VP David L. Orf sold 1,036 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $68.24, for a total value of $70,696.64. Following the completion of the transaction, the vice president now owns 22,175 shares in the company, valued at $1,513,222. This trade represents a 4.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Commerce Bancshares Trading Down 1.4 %
NASDAQ:CBSH opened at $67.65 on Friday. The firm has a market capitalization of $8.67 billion, a PE ratio of 16.87, a PEG ratio of 2.27 and a beta of 0.80. Commerce Bancshares, Inc. has a 1 year low of $47.09 and a 1 year high of $72.75. The firm’s fifty day simple moving average is $65.37 and its 200 day simple moving average is $64.19.
Commerce Bancshares (NASDAQ:CBSH – Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 EPS 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 business had revenue of $422.10 million for the quarter, compared to analyst estimates of $417.48 million. During the same period in the previous year, the company posted $0.84 earnings per share. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, analysts anticipate that Commerce Bancshares, Inc. will post 3.9 EPS for the current fiscal year.
Commerce Bancshares Increases Dividend
Institutional Investors Weigh In On Commerce Bancshares
Several hedge funds have recently modified their holdings of the business. HighTower Advisors LLC raised its stake in Commerce Bancshares by 27.6% during the 4th quarter. HighTower Advisors LLC now owns 13,806 shares of the financial services provider’s stock valued at $860,000 after purchasing an additional 2,990 shares during the last quarter. Warburton Capital Management LLC bought a new position in shares of Commerce Bancshares during the 4th quarter worth about $303,000. Cooke & Bieler LP raised its position in shares of Commerce Bancshares by 0.8% during the fourth quarter. Cooke & Bieler LP now owns 899,166 shares of the financial services provider’s stock valued at $56,027,000 after buying an additional 7,280 shares during the last quarter. Morton Community Bank lifted its stake in shares of Commerce Bancshares by 5.0% in the fourth quarter. Morton Community Bank now owns 6,304 shares of the financial services provider’s stock valued at $393,000 after buying an additional 300 shares during the period. Finally, Isthmus Partners LLC grew its position in Commerce Bancshares by 9.6% during the fourth quarter. Isthmus Partners LLC now owns 6,723 shares of the financial services provider’s stock worth $419,000 after buying an additional 588 shares in the last quarter. 70.26% of the stock is owned by institutional investors.
Analyst Ratings Changes
CBSH has been the subject of several recent research reports. Wells Fargo & Company boosted their price target on Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Piper Sandler boosted their target price on shares of Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Keefe, Bruyette & Woods upped their price objective on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Raymond James downgraded shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Seven investment analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $67.83.
Get Our Latest Research Report on Commerce Bancshares
About Commerce Bancshares
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.
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