David W. Kemper Sells 3,708 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) Chairman David W. Kemper sold 3,708 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $66.16, for a total value of $245,321.28. Following the sale, the chairman now owns 1,208,311 shares of the company’s stock, valued at $79,941,855.76. This represents a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Commerce Bancshares Trading Up 1.3 %

NASDAQ:CBSH opened at $68.36 on Thursday. The stock has a market capitalization of $8.77 billion, a PE ratio of 17.05, a P/E/G ratio of 2.21 and a beta of 0.80. The firm has a fifty day simple moving average of $65.60 and a 200 day simple moving average of $64.13. Commerce Bancshares, Inc. has a 1-year low of $47.09 and a 1-year high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. The firm 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%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.84 earnings per share. On average, equities analysts predict that Commerce Bancshares, Inc. will post 3.9 earnings per share for the current fiscal year.

Commerce Bancshares Increases Dividend

The business 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 dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s dividend payout ratio (DPR) is 26.93%.

Institutional Trading of Commerce Bancshares

Large investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its holdings in shares of Commerce Bancshares by 7.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,396,740 shares of the financial services provider’s stock worth $142,951,000 after acquiring an additional 163,782 shares during the period. Boston Trust Walden Corp raised its position in Commerce Bancshares by 17.6% during the fourth quarter. Boston Trust Walden Corp now owns 1,468,854 shares of the financial services provider’s stock valued at $91,524,000 after purchasing an additional 219,826 shares in the last quarter. NFJ Investment Group LLC lifted its stake in Commerce Bancshares by 17.7% during the third quarter. NFJ Investment Group LLC now owns 707,168 shares of the financial services provider’s stock worth $42,006,000 after purchasing an additional 106,316 shares during the last quarter. Mutual Advisors LLC boosted its holdings in shares of Commerce Bancshares by 4.8% in the 4th quarter. Mutual Advisors LLC now owns 474,189 shares of the financial services provider’s stock valued at $30,244,000 after purchasing an additional 21,922 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in shares of Commerce Bancshares by 8.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 391,932 shares of the financial services provider’s stock valued at $24,421,000 after purchasing an additional 29,032 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wells Fargo & Company upped their target price on Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Raymond James downgraded shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Piper Sandler boosted their target price on Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods raised their price target on Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Seven equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has a consensus 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.