Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Douglas D. Neff Sells 888 Shares

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Douglas D. Neff sold 888 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $72.10, for a total transaction of $64,024.80. Following the completion of the transaction, the senior vice president now directly owns 8,038 shares of the company’s stock, valued at approximately $579,539.80. The trade was a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Commerce Bancshares Stock Down 0.3 %

NASDAQ CBSH traded down $0.25 during trading on Friday, hitting $71.46. The stock had a trading volume of 76,292 shares, compared to its average volume of 531,699. Commerce Bancshares, Inc. has a twelve month low of $46.72 and a twelve month high of $73.31. The firm has a 50 day moving average price of $62.24 and a 200 day moving average price of $59.62. The company has a market capitalization of $9.16 billion, a PE ratio of 18.67, a PEG ratio of 3.89 and a beta of 0.73.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. The business had revenue of $421.38 million for the quarter, compared to analyst estimates of $412.85 million. On average, sell-side analysts anticipate that Commerce Bancshares, Inc. will post 4.02 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The company also recently announced 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. This represents a $1.08 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Tuesday, December 3rd. Commerce Bancshares’s dividend payout ratio (DPR) is 28.13%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CBSH. V Square Quantitative Management LLC acquired a new stake in shares of Commerce Bancshares during the 3rd quarter worth $26,000. Allworth Financial LP boosted its position in Commerce Bancshares by 51.1% during the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 192 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Commerce Bancshares in the third quarter valued at about $39,000. Bessemer Group Inc. lifted its position in Commerce Bancshares by 86.3% during the 1st quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 390 shares in the last quarter. Finally, True Wealth Design LLC acquired a new position in shares of Commerce Bancshares during the third quarter worth $47,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CBSH shares. Piper Sandler set a $68.50 price objective on Commerce Bancshares and gave the company a “neutral” rating in a research report on Friday, October 18th. Morgan Stanley cut Commerce Bancshares from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $66.00 to $64.00 in a research note on Monday, September 30th. Wells Fargo & Company lifted their target price on shares of Commerce Bancshares from $52.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. Finally, StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Commerce Bancshares presently has an average rating of “Hold” and a consensus target price of $61.79.

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.