Commerce Bancshares, Inc. (NASDAQ:CBSH) CEO John W. Kemper Sells 5,156 Shares

Commerce Bancshares, Inc. (NASDAQ:CBSH) CEO John W. Kemper sold 5,156 shares of Commerce Bancshares stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $65.22, for a total value of $336,274.32. Following the completion of the transaction, the chief executive officer now owns 198,298 shares of the company’s stock, valued at $12,932,995.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Commerce Bancshares Trading Down 0.1 %

NASDAQ CBSH traded down $0.08 during trading hours on Monday, reaching $65.00. The company’s stock had a trading volume of 850,685 shares, compared to its average volume of 507,030. The business has a 50-day simple moving average of $56.53 and a 200 day simple moving average of $54.28. The stock has a market cap of $8.42 billion, a PE ratio of 18.15 and a beta of 0.76. Commerce Bancshares, Inc. has a 52 week low of $40.91 and a 52 week high of $65.83.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.17. The company had revenue of $414.90 million for the quarter, compared to analysts’ expectations of $406.88 million. Commerce Bancshares had a return on equity of 16.50% and a net margin of 23.62%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 earnings per share. As a group, equities analysts predict that Commerce Bancshares, Inc. will post 3.82 EPS for the current year.

Commerce Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.66%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 30.12%.

Institutional Investors Weigh In On Commerce Bancshares

Hedge funds have recently made changes to their positions in the business. Clarity Asset Management Inc. bought a new stake in shares of Commerce Bancshares during the fourth quarter valued at approximately $43,000. Bessemer Group Inc. raised its holdings in Commerce Bancshares by 86.3% during 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 in the last quarter. GAMMA Investing LLC raised its holdings in Commerce Bancshares by 156.5% during the second quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 521 shares in the last quarter. Eagle Bay Advisors LLC raised its holdings in Commerce Bancshares by 2,864.7% during the second quarter. Eagle Bay Advisors LLC now owns 1,008 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 974 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in Commerce Bancshares during the first quarter worth approximately $90,000. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Raymond James upgraded Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 price target for the company in a research note on Wednesday, April 17th. Keefe, Bruyette & Woods lifted their price target on Commerce Bancshares from $58.00 to $60.00 and gave the stock a “market perform” rating in a research note on Friday, May 10th. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, April 17th. Wells Fargo & Company raised their target price on shares of Commerce Bancshares from $52.00 to $62.00 and gave the stock an “equal weight” rating in a report on Monday, July 22nd. Finally, Morgan Stanley raised their target price on shares of Commerce Bancshares from $55.00 to $58.00 and gave the stock an “equal weight” rating in a report on Monday, July 22nd. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Commerce Bancshares currently has a consensus rating of “Hold” and an average price target of $58.86.

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.