Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Michael J. Petrie sold 618 shares of the business’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 sale, the senior vice president now owns 10,375 shares in the company, valued at approximately $592,723.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Commerce Bancshares, Inc. (CBSH) traded up $0.50 during mid-day trading on Thursday, hitting $58.87. The stock had a trading volume of 324,000 shares, compared to its average volume of 467,556. Commerce Bancshares, Inc. has a 52 week low of $51.90 and a 52 week high of $60.61. The company has a market capitalization of $6,223.12, a price-to-earnings ratio of 20.31, a PEG ratio of 2.19 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 for the quarter, beating the 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. research analysts forecast that Commerce Bancshares, Inc. will post 3.36 EPS for the current year.
Several analysts have recently commented on the company. BidaskClub raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. Zacks Investment Research raised Commerce Bancshares from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research note on Monday, January 8th. Barclays increased their price objective on Commerce Bancshares from $55.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a “sell” rating and issued a $54.00 target price on shares of Commerce Bancshares in a report on Friday, January 19th. Four equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Commerce Bancshares has an average rating of “Hold” and a consensus price target of $57.13.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC increased its holdings in shares of Commerce Bancshares by 189.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,211 shares of the financial services provider’s stock worth $123,000 after buying an additional 1,448 shares during the period. SignalPoint Asset Management LLC bought a new position in shares of Commerce Bancshares during the third quarter valued at approximately $226,000. Wedbush Securities Inc. bought a new position in shares of Commerce Bancshares during the third quarter valued at approximately $229,000. Cetera Investment Advisers bought a new position in shares of Commerce Bancshares during the second quarter valued at approximately $272,000. Finally, GSA Capital Partners LLP acquired a new stake in Commerce Bancshares in the third quarter valued at approximately $283,000. 60.60% of the stock is owned by institutional investors and hedge funds.
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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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