Key Points
- SVP David Roller sold 2,092 shares on Feb. 3 at an average price of $53.32 for $111,545, reducing his stake by 6.74% to 28,933 shares (valued at about $1.54M), according to an SEC filing.
- Quarterly results beat expectations: Commerce reported $1.01 EPS (vs. $0.99 est.) and $449.36M revenue (up 6.5% YoY), with a 15.51% ROE and a 26.51% net margin.
- Analyst sentiment is cautious — the consensus rating is "Reduce" with a $61.75 target after multiple price-target cuts, and institutional investors own roughly 70.3% of the stock.
Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) SVP David Roller sold 2,092 shares of the business's stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $53.32, for a total transaction of $111,545.44. Following the completion of the transaction, the senior vice president directly owned 28,933 shares of the company's stock, valued at $1,542,707.56. This trade represents a 6.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Commerce Bancshares Stock Performance
NASDAQ:CBSH opened at $54.31 on Thursday. Commerce Bancshares, Inc. has a fifty-two week low of $48.69 and a fifty-two week high of $65.59. The company's 50-day simple moving average is $53.08 and its 200-day simple moving average is $54.61. The stock has a market capitalization of $7.19 billion, a P/E ratio of 12.96, a P/E/G ratio of 2.67 and a beta of 0.62.
Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last issued its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts' consensus estimates of $0.99 by $0.02. Commerce Bancshares had a return on equity of 15.51% and a net margin of 26.51%.The business had revenue of $449.36 million for the quarter, compared to analyst estimates of $442.47 million. During the same quarter in the previous year, the firm earned $1.01 earnings per share. The company's revenue was up 6.5% on a year-over-year basis. On average, research analysts forecast that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in CBSH. Edgestream Partners L.P. raised its stake in Commerce Bancshares by 28.8% during the 2nd quarter. Edgestream Partners L.P. now owns 178,420 shares of the financial services provider's stock worth $11,092,000 after buying an additional 39,873 shares during the period. Vest Financial LLC lifted its stake in Commerce Bancshares by 23.3% in the 2nd quarter. Vest Financial LLC now owns 33,296 shares of the financial services provider's stock valued at $2,070,000 after acquiring an additional 6,291 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Commerce Bancshares during the second quarter worth $1,948,000. Robeco Institutional Asset Management B.V. grew its holdings in shares of Commerce Bancshares by 59.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 102,227 shares of the financial services provider's stock valued at $6,109,000 after acquiring an additional 38,120 shares in the last quarter. Finally, Voya Investment Management LLC increased its position in shares of Commerce Bancshares by 95.0% during the 3rd quarter. Voya Investment Management LLC now owns 194,642 shares of the financial services provider's stock worth $11,632,000 after purchasing an additional 94,841 shares during 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 equities analysts recently weighed in on CBSH shares. TD Cowen reduced their price target on Commerce Bancshares from $61.00 to $55.00 and set a "hold" rating for the company in a report on Wednesday, January 7th. Keefe, Bruyette & Woods reduced their target price on shares of Commerce Bancshares from $61.90 to $57.14 and set a "market perform" rating for the company in a research report on Friday, October 17th. Piper Sandler set a $62.00 price target on Commerce Bancshares and gave the company a "neutral" rating in a report on Monday, January 26th. Weiss Ratings restated a "hold (c)" rating on shares of Commerce Bancshares in a research report on Monday, December 29th. Finally, Wall Street Zen cut Commerce Bancshares from a "hold" rating to a "sell" rating in a research note on Saturday, October 18th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $61.75.
Check Out Our Latest Analysis on Commerce Bancshares
Commerce Bancshares Company Profile
(
Get Free Report)
Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.
The company's commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.
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