Commerce Bancshares, Inc. (NASDAQ:CBSH) Chairman David W. Kemper Sells 30,000 Shares

Commerce Bancshares, Inc. (NASDAQ:CBSH) Chairman David W. Kemper sold 30,000 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $61.78, for a total value of $1,853,400.00. Following the transaction, the chairman now directly owns 1,151,994 shares in the company, valued at $71,170,189.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Commerce Bancshares Stock Down 0.6 %

NASDAQ:CBSH opened at $61.53 on Friday. The business’s 50-day moving average price is $61.19 and its two-hundred day moving average price is $58.28. Commerce Bancshares, Inc. has a twelve month low of $40.91 and a twelve month high of $65.86. The stock has a market cap of $7.93 billion, a P/E ratio of 16.02, a PEG ratio of 3.05 and a beta of 0.74.

Institutional Trading of Commerce Bancshares

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Commerce Bancshares by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 12,631,645 shares of the financial services provider’s stock valued at $672,004,000 after acquiring an additional 259,127 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Commerce Bancshares by 7.4% in the 2nd quarter. American Century Companies Inc. now owns 3,509,796 shares of the financial services provider’s stock valued at $195,776,000 after acquiring an additional 240,938 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Commerce Bancshares by 19.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,069,924 shares of the financial services provider’s stock valued at $115,453,000 after acquiring an additional 342,793 shares in the last quarter. Boston Trust Walden Corp raised its holdings in shares of Commerce Bancshares by 15.4% in the 2nd quarter. Boston Trust Walden Corp now owns 1,260,999 shares of the financial services provider’s stock valued at $70,339,000 after acquiring an additional 168,550 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Commerce Bancshares by 0.5% in the 2nd quarter. Sei Investments Co. now owns 624,715 shares of the financial services provider’s stock valued at $34,846,000 after acquiring an additional 3,391 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CBSH. Wells Fargo & Company upped their price target on Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. Piper Sandler set a $68.50 target price on Commerce Bancshares and gave the stock a “neutral” rating in a research note on Friday, October 18th. Jefferies Financial Group raised their target price on Commerce Bancshares from $60.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Morgan Stanley downgraded Commerce Bancshares from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $66.00 to $64.00 in a research note on Monday, September 30th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $61.79.

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.