Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Douglas D. Neff Sells 888 Shares

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Douglas D. Neff sold 888 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $72.10, for a total transaction of $64,024.80. Following the sale, the senior vice president now owns 8,038 shares of the company’s stock, valued at $579,539.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Commerce Bancshares Trading Down 0.0 %

Shares of NASDAQ:CBSH traded down $0.01 during trading on Thursday, reaching $71.96. The company had a trading volume of 213,948 shares, compared to its average volume of 532,862. Commerce Bancshares, Inc. has a 12 month low of $46.38 and a 12 month high of $73.31. The company has a fifty day moving average of $62.05 and a two-hundred day moving average of $59.54. The stock has a market capitalization of $9.23 billion, a P/E ratio of 18.74, a price-to-earnings-growth ratio of 3.90 and a beta of 0.73.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $1.00 by $0.07. The firm had revenue of $421.38 million for the quarter, compared to the consensus estimate of $412.85 million. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. As a group, equities research analysts predict that Commerce Bancshares, Inc. will post 4.02 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Tuesday, December 3rd. Commerce Bancshares’s dividend payout ratio (DPR) is currently 28.13%.

Analyst Ratings Changes

CBSH has been the topic of a number of research reports. Piper Sandler set a $68.50 price target on shares of Commerce Bancshares and gave the stock a “neutral” rating in a report on Friday, October 18th. Wells Fargo & Company boosted their target price on Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Morgan Stanley cut Commerce Bancshares from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $66.00 to $64.00 in a research report on Monday, September 30th. Finally, StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $61.79.

Hedge Funds Weigh In On Commerce Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in 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 worth $672,004,000 after purchasing an additional 259,127 shares in the last quarter. American Century Companies Inc. boosted its position in Commerce Bancshares by 7.4% during 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 position 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 worth $115,453,000 after acquiring an additional 342,793 shares in the last quarter. Boston Trust Walden Corp lifted its stake 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 purchasing an additional 168,550 shares during the period. Finally, Sei Investments Co. grew its stake in Commerce Bancshares by 0.5% in the second quarter. Sei Investments Co. now owns 624,715 shares of the financial services provider’s stock worth $34,846,000 after purchasing an additional 3,391 shares during the period. Institutional investors own 70.26% of the company’s stock.

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.