Insider Selling: Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Sells 1,000 Shares of Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Patricia R. Kellerhals sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $67.69, for a total value of $67,690.00. Following the completion of the sale, the senior vice president now owns 21,265 shares of the company’s stock, valued at $1,439,427.85. This trade represents a 4.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Commerce Bancshares Trading Up 0.2 %

Shares of NASDAQ CBSH opened at $63.03 on Friday. The stock has a market capitalization of $8.08 billion, a PE ratio of 16.41, a PEG ratio of 2.92 and a beta of 0.77. Commerce Bancshares, Inc. has a twelve month low of $47.09 and a twelve month high of $72.75. The stock has a fifty day simple moving average of $67.18 and a 200-day simple moving average of $62.07.

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 company had revenue of $421.38 million for the quarter, compared to analyst estimates of $412.85 million. On average, equities analysts predict that Commerce Bancshares, Inc. will post 3.95 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd were issued a dividend of $0.27 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.71%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 28.13%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Morgan Stanley cut Commerce Bancshares from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $66.00 to $64.00 in a report on Monday, September 30th. Raymond James lowered shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday. Keefe, Bruyette & Woods lifted their target price 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 price target on shares of Commerce Bancshares and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company lifted their price target on shares of Commerce Bancshares from $62.00 to $67.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. Eight investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Commerce Bancshares presently has an average rating of “Hold” and an average price target of $65.07.

Hedge Funds Weigh In On Commerce Bancshares

Several institutional investors have recently modified their holdings of CBSH. Virtu Financial LLC purchased a new position in Commerce Bancshares in the third quarter worth approximately $566,000. Centiva Capital LP acquired a new position in shares of Commerce Bancshares during the 3rd quarter worth about $581,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Commerce Bancshares in the 2nd quarter valued at about $436,000. Dark Forest Capital Management LP purchased a new stake in Commerce Bancshares during the second quarter worth approximately $522,000. Finally, Barclays PLC boosted its holdings in Commerce Bancshares by 19.4% in the third quarter. Barclays PLC now owns 106,934 shares of the financial services provider’s stock valued at $6,353,000 after purchasing an additional 17,400 shares in the last quarter. Institutional investors and hedge funds 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.