Key Points
- CEO John Kemper sold 5,830 Commerce Bancshares shares at an average price of $60.58, generating approximately $353,181. After the transaction, he retained 206,528 shares, a 2.75% reduction in his stake.
- Commerce Bancshares exceeded quarterly expectations, reporting $1.10 in EPS versus the $1.04 consensus and revenue of $498.91 million versus $492.22 million expected. Net margin was 26.07% and return on equity was 14.31%.
- Analyst sentiment remains cautious: the stock carries a consensus “Hold” rating with a $62.43 average price target, while CBSH recently traded near its 52-week high of $60.92.
Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) CEO John Kemper sold 5,830 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $60.58, for a total transaction of $353,181.40. Following the completion of the transaction, the chief executive officer owned 206,528 shares in the company, valued at $12,511,466.24. This represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Commerce Bancshares Price Performance
CBSH opened at $59.44 on Friday. The company has a fifty day moving average price of $56.23 and a two-hundred day moving average price of $53.18. The firm has a market capitalization of $8.66 billion, a PE ratio of 14.39, a P/E/G ratio of 2.16 and a beta of 0.58. Commerce Bancshares, Inc. has a 52 week low of $46.99 and a 52 week high of $60.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.82 and a current ratio of 0.82.
Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $1.04 by $0.06. Commerce Bancshares had a return on equity of 14.31% and a net margin of 26.07%.The company had revenue of $498.91 million for the quarter, compared to the consensus estimate of $492.22 million. During the same quarter in the prior year, the business posted $1.14 EPS. As a group, analysts anticipate that Commerce Bancshares, Inc. will post 4.22 earnings per share for the current year.
Institutional Investors Weigh In On Commerce Bancshares
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CBSH. Daytona Street Capital LLC acquired a new position in shares of Commerce Bancshares during the 4th quarter worth about $25,000. Danske Bank A S acquired a new stake in shares of Commerce Bancshares in the third quarter valued at about $25,000. Geneos Wealth Management Inc. increased its position in shares of Commerce Bancshares by 85.4% in the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 216 shares during the last quarter. Root Financial Partners LLC raised its holdings in Commerce Bancshares by 104.9% during the first quarter. Root Financial Partners LLC now owns 623 shares of the financial services provider's stock worth $31,000 after acquiring an additional 319 shares in the last quarter. Finally, Laurel Wealth Advisors LLC acquired a new stake in shares of Commerce Bancshares in the 4th quarter valued at approximately $34,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.
Key Headlines Impacting Commerce Bancshares
Here are the key news stories impacting Commerce Bancshares this week:
- Positive Sentiment: Value-stock appeal: Zacks highlighted CBSH as a strong value stock, which may attract investors seeking a profitable regional bank trading at a relatively reasonable valuation. Here's Why Commerce Bancshares Is a Strong Value Stock
- Positive Sentiment: Recent earnings beat estimates: Commerce Bancshares reported quarterly EPS of $1.10, exceeding the $1.04 consensus estimate, while revenue of $498.91 million also topped expectations of $492.22 million. The company generated a 26.07% net margin and 14.31% return on equity, supporting the fundamental case for the stock.
- Neutral Sentiment: Analyst outlook remains mixed: Several firms recently raised their price targets, including Piper Sandler to $66 and Keefe, Bruyette & Woods to $62, but ratings remain mostly neutral. CBSH has an overall “Hold” consensus and an average target price of $62.43, implying limited upside from recent levels.
- Negative Sentiment: Multiple insiders sold shares: CEO John W. Kemper sold 5,830 shares worth approximately $353,181, CFO Charles G. Kim sold 19,771 shares worth about $1.17 million, and SVP Derrick Brooks sold 1,041 shares valued at roughly $62,075. The transactions reduced their individual holdings by approximately 2.75%, 14.21%, and 7.35%, respectively. Although insider sales can reflect personal financial planning rather than concerns about business prospects, the concentration of selling may weigh on sentiment, particularly with the stock near its 52-week high. Commerce Bancshares Insider Selling
Analysts Set New Price Targets
Several equities analysts have recently issued reports on the company. Wells Fargo & Company boosted their target price on Commerce Bancshares from $53.00 to $57.00 and gave the stock an "equal weight" rating in a research report on Monday, July 6th. Hovde Group cut their price target on shares of Commerce Bancshares from $63.00 to $60.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 22nd. Wall Street Zen raised shares of Commerce Bancshares from a "sell" rating to a "hold" rating in a research note on Tuesday. Keefe, Bruyette & Woods upped their target price on shares of Commerce Bancshares from $60.00 to $62.00 and gave the company a "market perform" rating in a research note on Monday, July 20th. Finally, Weiss Ratings upgraded shares of Commerce Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, July 21st. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Commerce Bancshares presently has an average rating of "Hold" and a consensus price target of $62.43.
Get Our Latest Stock Analysis on Commerce Bancshares
About Commerce Bancshares
(
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
