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 Commerce Bancshares stock in a transaction on Monday, January 27th. The stock was sold at an average price of $66.68, for a total value of $181,502.96. Following the sale, the executive vice president now directly owns 39,638 shares of the company’s stock, valued at approximately $2,643,061.84. This trade represents a 6.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Commerce Bancshares Stock Down 0.8 %

Shares of CBSH stock opened at $66.09 on Thursday. The company has a market capitalization of $8.47 billion, a price-to-earnings ratio of 16.48, a P/E/G ratio of 3.64 and a beta of 0.79. Commerce Bancshares, Inc. has a 12-month low of $47.09 and a 12-month high of $72.75. The firm has a fifty day moving average of $66.25 and a 200-day moving average of $63.95.

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

Analyst Ratings Changes

CBSH has been the subject of several analyst reports. Raymond James lowered Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods upped their target price 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. Piper Sandler increased their target price on shares of Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Finally, Wells Fargo & Company raised their price objective on Commerce Bancshares from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Commerce Bancshares presently has a consensus rating of “Hold” and an average target price of $67.83.

Institutional Investors Weigh In On Commerce Bancshares

Institutional investors have recently bought and sold shares of the company. Hsbc Holdings PLC acquired a new stake in shares of Commerce Bancshares in the second quarter valued at approximately $207,000. Bank of Montreal Can grew its position in Commerce Bancshares by 76.8% in the second quarter. Bank of Montreal Can now owns 66,701 shares of the financial services provider’s stock valued at $3,724,000 after purchasing an additional 28,969 shares in the last quarter. AQR Capital Management LLC increased its stake in Commerce Bancshares by 18.4% in the 2nd quarter. AQR Capital Management LLC now owns 154,828 shares of the financial services provider’s stock valued at $8,548,000 after buying an additional 24,101 shares during the last quarter. Millennium Management LLC lifted its position in Commerce Bancshares by 168.3% during the 2nd quarter. Millennium Management LLC now owns 342,084 shares of the financial services provider’s stock worth $19,081,000 after buying an additional 214,582 shares in the last quarter. Finally, Algert Global LLC acquired a new position in shares of Commerce Bancshares during the 2nd quarter worth about $693,000. Institutional investors own 70.26% of the company’s stock.

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.