Commerce Bancshares, Inc. (NASDAQ:CBSH) CFO Charles G. Kim Sells 13,493 Shares

Commerce Bancshares, Inc. (NASDAQ:CBSH) CFO Charles G. Kim sold 13,493 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $67.76, for a total transaction of $914,285.68. Following the sale, the chief financial officer now owns 86,246 shares of the company’s stock, valued at approximately $5,844,028.96. This represents a 13.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Commerce Bancshares Price Performance

NASDAQ CBSH opened at $66.44 on Friday. The firm has a market cap of $8.52 billion, a P/E ratio of 16.57, a price-to-earnings-growth ratio of 2.27 and a beta of 0.80. The stock’s 50-day moving average is $65.11 and its two-hundred day moving average is $64.25. Commerce Bancshares, Inc. has a fifty-two week low of $47.79 and a fifty-two week high of $72.75.

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

Commerce Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.66%. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, March 7th. Commerce Bancshares’s payout ratio is presently 26.93%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Virtu Financial LLC acquired a new stake in shares of Commerce Bancshares in the third quarter valued at about $566,000. Procyon Advisors LLC acquired a new stake in Commerce Bancshares in the 4th quarter valued at approximately $200,000. Centiva Capital LP acquired a new stake in Commerce Bancshares in the 3rd quarter valued at approximately $581,000. PFW Advisors LLC acquired a new stake in Commerce Bancshares in the 4th quarter valued at approximately $1,336,000. Finally, Barclays PLC increased its position in Commerce Bancshares by 19.4% in 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 during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Raymond James lowered shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Wells Fargo & Company lifted their price objective on Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods boosted 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. Piper Sandler raised their price target on Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Finally, StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Seven analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $67.83.

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.