Commerce Bancshares, Inc. (NASDAQ:CBSH) Short Interest Update

Commerce Bancshares, Inc. (NASDAQ:CBSH) saw a large decrease in short interest in August. As of August 31st, there was short interest totalling 1,660,000 shares, a decrease of 18.2% from the August 15th total of 2,030,000 shares. Based on an average daily trading volume, of 575,700 shares, the days-to-cover ratio is currently 2.9 days.

Commerce Bancshares Stock Up 0.0 %

CBSH stock traded up $0.01 during midday trading on Tuesday, reaching $62.27. The stock had a trading volume of 382,212 shares, compared to its average volume of 513,035. The firm has a market cap of $8.07 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 10.06 and a beta of 0.75. Commerce Bancshares has a twelve month low of $40.91 and a twelve month high of $65.86. The business has a fifty day simple moving average of $61.86 and a two-hundred day simple moving average of $56.77.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.17. Commerce Bancshares had a net margin of 23.62% and a return on equity of 16.50%. The business had revenue of $414.90 million during the quarter, compared to the consensus estimate of $406.88 million. During the same period in the previous year, the firm posted $0.97 earnings per share. Commerce Bancshares’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities analysts predict that Commerce Bancshares will post 3.96 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Thursday, September 5th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Thursday, September 5th. Commerce Bancshares’s dividend payout ratio (DPR) is currently 30.08%.

Insider Activity

In other news, CEO John W. Kemper sold 5,156 shares of Commerce Bancshares stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $65.22, for a total transaction of $336,274.32. Following the sale, the chief executive officer now directly owns 198,298 shares in the company, valued at approximately $12,932,995.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Robert S. Holmes sold 3,795 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $64.75, for a total value of $245,726.25. Following the sale, the executive vice president now owns 50,293 shares in the company, valued at approximately $3,256,471.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John W. Kemper sold 5,156 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $65.22, for a total transaction of $336,274.32. Following the sale, the chief executive officer now owns 198,298 shares of the company’s stock, valued at approximately $12,932,995.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,612 shares of company stock worth $3,184,609. 3.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Commerce Bancshares

A number of institutional investors have recently made changes to their positions in the stock. Clarity Asset Management Inc. bought a new position in Commerce Bancshares during the fourth quarter worth about $43,000. Bessemer Group Inc. raised its holdings in Commerce Bancshares by 86.3% in the first quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 390 shares during the period. GAMMA Investing LLC grew its holdings in shares of Commerce Bancshares by 156.5% in the 2nd quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock valued at $48,000 after buying an additional 521 shares during the period. Eagle Bay Advisors LLC increased its position in shares of Commerce Bancshares by 2,864.7% in the 2nd quarter. Eagle Bay Advisors LLC now owns 1,008 shares of the financial services provider’s stock valued at $56,000 after buying an additional 974 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in Commerce Bancshares during the 1st quarter worth $90,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CBSH shares. Morgan Stanley lifted their target price on shares of Commerce Bancshares from $58.00 to $66.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Wells Fargo & Company boosted their price objective on 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, Jefferies Financial Group upped their price target on shares of Commerce Bancshares from $60.00 to $62.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Commerce Bancshares presently has a consensus rating of “Hold” and an average price target of $60.00.

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.