Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Patricia R. Kellerhals Sells 1,000 Shares of Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Patricia R. Kellerhals sold 1,000 shares of Commerce Bancshares stock in a transaction on Monday, December 16th. The shares were sold at an average price of $67.69, for a total transaction of $67,690.00. Following the completion of the sale, the senior vice president now owns 21,265 shares in the company, valued at approximately $1,439,427.85. This represents a 4.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Commerce Bancshares Stock Down 4.3 %

Shares of CBSH opened at $63.87 on Thursday. The business has a fifty day moving average of $67.09 and a 200 day moving average of $62.07. The company has a market cap of $8.19 billion, a PE ratio of 16.63, a P/E/G ratio of 2.92 and a beta of 0.77. Commerce Bancshares, Inc. has a 52-week low of $47.09 and a 52-week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.07. The firm had revenue of $421.38 million during the quarter, compared to analyst estimates of $412.85 million. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. As a group, research analysts anticipate that Commerce Bancshares, Inc. will post 3.95 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd were paid a dividend of $0.27 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.69%. Commerce Bancshares’s dividend payout ratio is 28.13%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CBSH. Keefe, Bruyette & Woods lifted their target price on Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler set a $68.50 price objective on Commerce Bancshares and gave the stock a “neutral” rating in a research note on Friday, October 18th. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Raymond James cut shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday. Finally, Wells Fargo & Company increased their price objective on shares of Commerce Bancshares from $62.00 to $67.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. Eight research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $65.07.

Institutional Investors Weigh In On Commerce Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of CBSH. Wealth Enhancement Advisory Services LLC purchased a new stake in Commerce Bancshares in the second quarter worth $436,000. Raymond James & Associates increased its stake in Commerce Bancshares by 7.9% in the 2nd quarter. Raymond James & Associates now owns 135,534 shares of the financial services provider’s stock worth $7,560,000 after buying an additional 9,881 shares during the period. Fifth Third Wealth Advisors LLC bought a new stake in Commerce Bancshares during the 2nd quarter valued at about $197,000. &PARTNERS purchased a new stake in Commerce Bancshares in the 2nd quarter valued at about $396,000. Finally, Cambridge Investment Research Advisors Inc. grew its stake in Commerce Bancshares by 0.5% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 30,906 shares of the financial services provider’s stock worth $1,724,000 after acquiring an additional 154 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

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.