Insider Selling: Commerce Bancshares, Inc. (NASDAQ:CBSH) EVP Sells $106,848.28 in Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) EVP Kevin G. Barth sold 1,582 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $67.54, for a total transaction of $106,848.28. Following the completion of the sale, the executive vice president now owns 65,409 shares of the company’s stock, valued at approximately $4,417,723.86. The trade was a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Commerce Bancshares Trading Up 0.2 %

CBSH stock opened at $63.03 on Friday. The firm has a 50-day moving average price of $67.24 and a 200-day moving average price of $62.13. Commerce Bancshares, Inc. has a 12 month low of $47.09 and a 12 month high of $72.75. The stock has a market capitalization of $8.08 billion, a P/E ratio of 16.41, a price-to-earnings-growth ratio of 2.92 and a beta of 0.77.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $1.00 by $0.07. The business had revenue of $421.38 million during the quarter, compared to the consensus estimate of $412.85 million. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. As a group, equities analysts predict that Commerce Bancshares, Inc. will post 3.95 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Tuesday, December 3rd. Commerce Bancshares’s dividend payout ratio is currently 28.13%.

Hedge Funds Weigh In On Commerce Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in CBSH. Virtu Financial LLC acquired a new stake in shares of Commerce Bancshares in the third quarter valued at about $566,000. Centiva Capital LP acquired a new stake in Commerce Bancshares during the 3rd quarter valued at approximately $581,000. Wealth Enhancement Advisory Services LLC bought a new position in Commerce Bancshares during the 2nd quarter worth approximately $436,000. Dark Forest Capital Management LP acquired a new position in shares of Commerce Bancshares in the 2nd quarter worth approximately $522,000. Finally, Barclays PLC increased its position in shares of Commerce Bancshares by 19.4% during the third quarter. Barclays PLC now owns 106,934 shares of the financial services provider’s stock worth $6,353,000 after buying an additional 17,400 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. 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. Keefe, Bruyette & Woods raised their price target on Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Raymond James lowered shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday. Finally, Morgan Stanley lowered shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $66.00 to $64.00 in a research report on Monday, September 30th. Eight investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price 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.