Insider Selling: Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Sells 2,000 Shares of Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Patricia R. Kellerhals sold 2,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $62.23, for a total transaction of $124,460.00. Following the completion of the sale, the senior vice president now directly owns 23,381 shares of the company’s stock, valued at $1,454,999.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Commerce Bancshares Stock Up 0.4 %

Shares of Commerce Bancshares stock traded up $0.25 during trading hours on Tuesday, reaching $62.51. 185,079 shares of the company’s stock were exchanged, compared to its average volume of 511,933. The business has a fifty day moving average of $61.86 and a two-hundred day moving average of $56.77. The company has a market capitalization of $8.10 billion, a P/E ratio of 17.51, a price-to-earnings-growth ratio of 10.06 and a beta of 0.75. Commerce Bancshares, Inc. has a 1 year low of $40.91 and a 1 year high of $65.86.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Thursday, July 18th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.17. The business had revenue of $414.90 million for the quarter, compared to analyst estimates of $406.88 million. Commerce Bancshares had a net margin of 23.62% and a return on equity of 16.50%. The business’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the company posted $0.97 EPS. As a group, research analysts predict that Commerce Bancshares, Inc. will post 3.96 EPS for the current year.

Commerce Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Thursday, September 5th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Thursday, September 5th. Commerce Bancshares’s dividend payout ratio (DPR) is presently 30.08%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in Commerce Bancshares during the fourth quarter worth about $71,835,000. Vanguard Group Inc. grew its position in Commerce Bancshares by 4.7% in the fourth quarter. Vanguard Group Inc. now owns 12,372,518 shares of the financial services provider’s stock worth $660,816,000 after acquiring an additional 558,017 shares during the period. Dimensional Fund Advisors LP increased its stake in Commerce Bancshares by 19.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,069,924 shares of the financial services provider’s stock worth $115,453,000 after acquiring an additional 342,793 shares during the last quarter. American Century Companies Inc. raised its position in Commerce Bancshares by 7.4% in the second quarter. American Century Companies Inc. now owns 3,509,796 shares of the financial services provider’s stock valued at $195,776,000 after purchasing an additional 240,938 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of Commerce Bancshares by 168.3% in the 2nd quarter. Millennium Management LLC now owns 342,084 shares of the financial services provider’s stock valued at $19,081,000 after purchasing an additional 214,582 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on CBSH shares. Morgan Stanley increased their target price on Commerce Bancshares from $58.00 to $66.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Wells Fargo & Company upped their target price 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. Finally, Jefferies Financial Group boosted their price target on Commerce Bancshares from $60.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Commerce Bancshares has an average rating of “Hold” and a consensus target price of $60.00.

Commerce Bancshares Company Profile

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.