Patricia R. Kellerhals Sells 1,719 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Patricia R. Kellerhals sold 1,719 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $67.30, for a total value of $115,688.70. Following the sale, the senior vice president now directly owns 18,688 shares in the company, valued at $1,257,702.40. This trade represents a 8.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Commerce Bancshares Price Performance

Shares of NASDAQ:CBSH opened at $67.65 on Friday. The business has a 50 day simple moving average of $65.37 and a two-hundred day simple moving average of $64.19. Commerce Bancshares, Inc. has a 1 year low of $47.09 and a 1 year high of $72.75. The firm has a market capitalization of $8.67 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 2.27 and a beta of 0.80.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data 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 return on equity of 16.31% and a net margin of 25.24%. The company had revenue of $422.10 million for the quarter, compared to the consensus estimate of $417.48 million. During the same quarter in the prior year, the company posted $0.84 EPS. Commerce Bancshares’s quarterly revenue was up 7.3% on a year-over-year basis. Equities research analysts expect that Commerce Bancshares, Inc. will post 3.9 EPS for the current fiscal year.

Commerce Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.63%. The ex-dividend date is Friday, March 7th. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s dividend payout ratio (DPR) is currently 26.93%.

Wall Street Analyst Weigh In

CBSH has been the topic of a number of recent research reports. Raymond James lowered shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Piper Sandler boosted their price objective on Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Wells Fargo & Company raised their price objective on Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods increased their price target on Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Seven 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 price target of $67.83.

Institutional Investors Weigh In On Commerce Bancshares

Large investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new position in shares of Commerce Bancshares during the third quarter worth approximately $566,000. Procyon Advisors LLC purchased a new position in Commerce Bancshares during the 4th quarter worth $200,000. Centiva Capital LP bought a new stake in Commerce Bancshares during the 3rd quarter valued at $581,000. PFW Advisors LLC purchased a new stake in shares of Commerce Bancshares in the 4th quarter worth $1,336,000. Finally, Barclays PLC grew its position in shares of Commerce Bancshares by 19.4% during the 3rd 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 in the last quarter. 70.26% of the stock is owned by hedge funds and other 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.