Kevin G. Barth Sells 1,582 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock

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

Commerce Bancshares Trading Up 0.2 %

Shares of CBSH stock opened at $63.03 on Friday. Commerce Bancshares, Inc. has a 12-month low of $47.09 and a 12-month high of $72.75. The company has a market cap of $8.08 billion, a price-to-earnings ratio of 16.41, a price-to-earnings-growth ratio of 2.92 and a beta of 0.77. The stock has a 50 day simple moving average of $67.18 and a 200-day simple moving average of $62.07.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.07. The firm had revenue of $421.38 million during the quarter, compared to analysts’ expectations of $412.85 million. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. On average, equities analysts forecast that Commerce Bancshares, Inc. will post 3.95 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a 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%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC acquired a new stake in shares of Commerce Bancshares in the 3rd quarter worth approximately $26,000. Allworth Financial LP boosted its position in Commerce Bancshares by 51.1% during the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 192 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in Commerce Bancshares in the third quarter valued at $39,000. True Wealth Design LLC purchased a new position in shares of Commerce Bancshares in the third quarter valued at $47,000. Finally, Farther Finance Advisors LLC increased its position in shares of Commerce Bancshares by 48.2% in the third quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock valued at $52,000 after buying an additional 287 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on CBSH shares. Piper Sandler set a $68.50 price target on shares of Commerce Bancshares and gave the stock a “neutral” rating in a research note on Friday, October 18th. Morgan Stanley lowered Commerce Bancshares from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $66.00 to $64.00 in a report on Monday, September 30th. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods lifted their target price on Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company increased their price target on Commerce Bancshares from $62.00 to $67.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. Eight analysts have rated the stock with a hold rating, According to MarketBeat.com, Commerce Bancshares has an average rating of “Hold” and an average target price of $65.07.

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.