Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Sells $115,688.70 in Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Patricia R. Kellerhals sold 1,719 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $67.30, for a total transaction of $115,688.70. Following the completion of the sale, the senior vice president now owns 18,688 shares of the company’s stock, valued at approximately $1,257,702.40. The trade was a 8.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Commerce Bancshares Trading Up 1.3 %

Shares of Commerce Bancshares stock opened at $68.36 on Thursday. Commerce Bancshares, Inc. has a 12-month low of $47.09 and a 12-month high of $72.75. The company has a market cap of $8.77 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 2.21 and a beta of 0.80. The company’s 50-day moving average price is $65.60 and its 200-day moving average price is $64.13.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results 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 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 firm posted $0.84 earnings per share. On average, sell-side analysts predict that Commerce Bancshares, Inc. will post 3.9 earnings per share for the current year.

Commerce Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be paid a $0.275 dividend. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.27. This represents a $1.10 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Friday, March 7th. Commerce Bancshares’s dividend payout ratio (DPR) is currently 26.93%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CBSH. V Square Quantitative Management LLC bought a new position in Commerce Bancshares during the third quarter valued at approximately $26,000. Allworth Financial LP grew its position in Commerce Bancshares by 51.1% during the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 192 shares during the last quarter. Marshall Investment Management LLC bought a new position in Commerce Bancshares during the fourth quarter valued at approximately $35,000. Capital Performance Advisors LLP bought a new position in Commerce Bancshares during the third quarter valued at approximately $39,000. Finally, True Wealth Design LLC bought a new position in Commerce Bancshares during the third quarter valued at approximately $47,000. 70.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on CBSH shares. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, January 13th. Piper Sandler increased their price target 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. Wells Fargo & Company increased their price target 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. Keefe, Bruyette & Woods increased their price target 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. Finally, Raymond James downgraded shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Seven investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target 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.