Commerce Bancshares, Inc. (NASDAQ:CBSH) VP David L. Orf Sells 1,036 Shares

Commerce Bancshares, Inc. (NASDAQ:CBSH) VP David L. Orf sold 1,036 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $68.24, for a total transaction of $70,696.64. Following the transaction, the vice president now owns 22,175 shares of the company’s stock, valued at $1,513,222. This trade represents a 4.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Commerce Bancshares Trading Up 0.3 %

Shares of NASDAQ:CBSH opened at $68.59 on Friday. The firm has a 50 day simple moving average of $65.49 and a 200-day simple moving average of $64.16. Commerce Bancshares, Inc. has a twelve month low of $47.09 and a twelve month high of $72.75. The company has a market capitalization of $8.80 billion, a PE ratio of 17.10, a P/E/G ratio of 2.21 and a beta of 0.80.

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

Commerce Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be given a $0.275 dividend. 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 annualized dividend and a yield of 1.60%. Commerce Bancshares’s dividend payout ratio is 26.93%.

Analysts Set New Price Targets

CBSH has been the subject of several analyst reports. Keefe, Bruyette & Woods boosted their price target on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Wells Fargo & Company boosted their price target on shares of Commerce Bancshares from $67.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Piper Sandler boosted their price target on shares of Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Finally, Raymond James cut shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Commerce Bancshares currently has a consensus rating of “Hold” and a consensus target price of $67.83.

Institutional Trading of Commerce Bancshares

Several institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC raised its position in Commerce Bancshares by 7.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,396,740 shares of the financial services provider’s stock valued at $142,951,000 after purchasing an additional 163,782 shares during the last quarter. Boston Trust Walden Corp raised its position in Commerce Bancshares by 17.6% during the 4th quarter. Boston Trust Walden Corp now owns 1,468,854 shares of the financial services provider’s stock worth $91,524,000 after buying an additional 219,826 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Commerce Bancshares by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,055,430 shares of the financial services provider’s stock worth $65,764,000 after buying an additional 43,928 shares during the last quarter. NFJ Investment Group LLC raised its position in Commerce Bancshares by 17.7% during the 3rd quarter. NFJ Investment Group LLC now owns 707,168 shares of the financial services provider’s stock worth $42,006,000 after buying an additional 106,316 shares during the last quarter. Finally, Mutual Advisors LLC raised its position in Commerce Bancshares by 4.8% during the 4th quarter. Mutual Advisors LLC now owns 474,189 shares of the financial services provider’s stock worth $30,244,000 after buying an additional 21,922 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

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.