Commerce Bancshares, Inc. (NASDAQ:CBSH) Chairman Sells $245,321.28 in Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) Chairman David W. Kemper sold 3,708 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $66.16, for a total transaction of $245,321.28. Following the completion of the transaction, the chairman now directly owns 1,208,311 shares in the company, valued at approximately $79,941,855.76. The trade was a 0.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Commerce Bancshares Trading Up 2.4 %

CBSH traded up $1.58 during trading on Tuesday, hitting $67.45. 474,710 shares of the company traded hands, compared to its average volume of 550,560. The company has a market cap of $8.65 billion, a PE ratio of 16.82, a P/E/G ratio of 2.21 and a beta of 0.80. The stock’s 50-day simple moving average is $65.84 and its two-hundred day simple moving average is $64.07. Commerce Bancshares, Inc. has a 1 year low of $47.09 and a 1 year high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.06. The company had revenue of $422.10 million during the quarter, compared to analysts’ expectations of $417.48 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. Commerce Bancshares’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the company posted $0.84 earnings per share. Equities analysts expect that Commerce Bancshares, Inc. will post 3.9 EPS for the current year.

Commerce Bancshares Increases Dividend

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

Hedge Funds Weigh In On Commerce Bancshares

Institutional investors and hedge funds have recently made changes to their positions in the business. V Square Quantitative Management LLC purchased a new position in shares of Commerce Bancshares in the 3rd quarter worth $26,000. Allworth Financial LP grew its stake in shares of Commerce Bancshares by 51.1% in the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock worth $34,000 after buying an additional 192 shares in the last quarter. Marshall Investment Management LLC purchased a new position in shares of Commerce Bancshares in the 4th quarter worth $35,000. Capital Performance Advisors LLP purchased a new position in shares of Commerce Bancshares during the 3rd quarter worth about $39,000. Finally, True Wealth Design LLC purchased a new position in shares of Commerce Bancshares during the 3rd quarter worth about $47,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.