Commerce Bancshares, Inc. (NASDAQ:CBSH) Chairman Sells $245,321.28 in Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) Chairman David W. Kemper sold 3,708 shares of Commerce Bancshares stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $66.16, for a total value of $245,321.28. Following the completion of the sale, the chairman now directly owns 1,208,311 shares in the company, valued at approximately $79,941,855.76. The trade was a 0.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Commerce Bancshares Price Performance

Shares of CBSH opened at $68.59 on Friday. The firm has a market capitalization of $8.80 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 2.21 and a beta of 0.80. The company has a 50-day moving average of $65.49 and a 200 day moving average of $64.16. Commerce Bancshares, Inc. has a 1-year low of $47.09 and a 1-year high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. The firm had revenue of $422.10 million during the quarter, compared to analyst estimates of $417.48 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. Commerce Bancshares’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 earnings per share. On average, equities analysts anticipate that Commerce Bancshares, Inc. will post 3.9 earnings per share for the current fiscal year.

Commerce Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be given a dividend of $0.275 per share. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.60%. Commerce Bancshares’s dividend payout ratio is presently 26.93%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CBSH. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, January 13th. Keefe, Bruyette & Woods lifted their price objective on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Raymond James downgraded shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Piper Sandler lifted their price target on shares of Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company increased their price objective on shares of Commerce Bancshares from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Seven analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $67.83.

Institutional Trading of Commerce Bancshares

Several institutional investors and hedge funds have recently made changes to their positions in CBSH. Cetera Investment Advisers increased its position in Commerce Bancshares by 77.1% during the 2nd quarter. Cetera Investment Advisers now owns 56,441 shares of the financial services provider’s stock valued at $3,148,000 after purchasing an additional 24,569 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Commerce Bancshares during the second quarter valued at approximately $1,755,000. Handelsbanken Fonder AB increased its holdings in Commerce Bancshares by 9.6% during the third quarter. Handelsbanken Fonder AB now owns 29,628 shares of the financial services provider’s stock valued at $1,760,000 after buying an additional 2,600 shares during the period. Fulton Bank N.A. raised its stake in Commerce Bancshares by 5.8% in the third quarter. Fulton Bank N.A. now owns 6,534 shares of the financial services provider’s stock worth $388,000 after buying an additional 359 shares in the last quarter. Finally, CWM LLC lifted its holdings in Commerce Bancshares by 0.8% during the third quarter. CWM LLC now owns 131,524 shares of the financial services provider’s stock worth $7,813,000 after buying an additional 1,004 shares during the period. 70.26% of the stock is currently owned by institutional investors.

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.