Commerce Bancshares, Inc. (NASDAQ:CBSH) Chairman David W. Kemper Sells 4,500 Shares

Commerce Bancshares, Inc. (NASDAQ:CBSH) Chairman David W. Kemper sold 4,500 shares of Commerce Bancshares stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $69.22, for a total transaction of $311,490.00. Following the sale, the chairman now owns 23,725 shares of the company’s stock, valued at approximately $1,642,244.50. The trade was a 15.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Commerce Bancshares Stock Down 1.1 %

Shares of NASDAQ CBSH traded down $0.73 during trading on Monday, hitting $68.02. The company had a trading volume of 461,735 shares, compared to its average volume of 555,723. Commerce Bancshares, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $72.75. The stock has a fifty day simple moving average of $65.59 and a two-hundred day simple moving average of $61.43. The firm has a market capitalization of $8.72 billion, a price-to-earnings ratio of 17.90, a price-to-earnings-growth ratio of 3.74 and a beta of 0.77.

Commerce Bancshares (NASDAQ:CBSH) last posted 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 company had revenue of $421.38 million during the quarter, compared to analyst estimates of $412.85 million. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. On average, analysts anticipate that Commerce Bancshares, Inc. will post 3.98 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The company 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. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.59%. Commerce Bancshares’s payout ratio is currently 28.13%.

Institutional Investors Weigh In On Commerce Bancshares

A number of large investors have recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in Commerce Bancshares during the second quarter worth approximately $1,226,000. Marshall Financial Group LLC purchased a new position in shares of Commerce Bancshares during the 2nd quarter worth $1,006,000. Cetera Investment Advisers raised its holdings in shares of Commerce Bancshares by 138.3% during the 1st quarter. Cetera Investment Advisers now owns 31,872 shares of the financial services provider’s stock worth $1,696,000 after acquiring an additional 18,496 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Commerce Bancshares in the second quarter valued at about $436,000. Finally, Dark Forest Capital Management LP acquired a new stake in Commerce Bancshares during the second quarter worth about $522,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CBSH. Morgan Stanley lowered shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $66.00 to $64.00 in a report on Monday, September 30th. Wells Fargo & Company upped their price objective on Commerce Bancshares from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd. Keefe, Bruyette & Woods raised 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. Piper Sandler set a $68.50 target price on shares of Commerce Bancshares and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research 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 currently has a consensus rating of “Hold” and a consensus price target of $65.07.

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.