Insider Selling: Commerce Bancshares, Inc. (NASDAQ:CBSH) Director Sells $100,020.60 in Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) Director June Mcallister Fowler sold 1,535 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $65.16, for a total transaction of $100,020.60. Following the transaction, the director now owns 2,722 shares in the company, valued at approximately $177,365.52. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Commerce Bancshares Price Performance

NASDAQ CBSH opened at $61.00 on Monday. The firm has a market capitalization of $7.90 billion, a price-to-earnings ratio of 16.99, a P/E/G ratio of 10.22 and a beta of 0.76. The company’s fifty day moving average is $57.30 and its two-hundred day moving average is $54.68. Commerce Bancshares, Inc. has a 52-week low of $40.91 and a 52-week high of $65.86.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.17. The company had revenue of $414.90 million for the quarter, compared to analyst estimates of $406.88 million. Commerce Bancshares had a net margin of 23.62% and a return on equity of 16.50%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the business posted $0.97 EPS. As a group, sell-side analysts expect that Commerce Bancshares, Inc. will post 3.9 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. Shareholders of record on Thursday, September 5th will be given a $0.27 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.08 annualized dividend and a yield of 1.77%. Commerce Bancshares’s dividend payout ratio is 30.08%.

Analyst Ratings Changes

CBSH has been the topic of several analyst reports. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. Jefferies Financial Group raised their target price on shares of Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Raymond James upgraded shares of Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 target price on the stock in a research note on Wednesday, April 17th. Morgan Stanley raised their target price on shares of Commerce Bancshares from $55.00 to $58.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Finally, Keefe, Bruyette & Woods raised their target price on shares of Commerce Bancshares from $58.00 to $60.00 and gave the company a “market perform” rating in a research note on Friday, May 10th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Commerce Bancshares has an average rating of “Hold” and a consensus target price of $58.86.

Institutional Trading of Commerce Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Clarity Asset Management Inc. bought a new position in shares of Commerce Bancshares during the 4th quarter worth about $43,000. Bessemer Group Inc. lifted its holdings in shares of Commerce Bancshares by 86.3% during the 1st quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 390 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Commerce Bancshares by 156.5% during the 2nd quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 521 shares during the period. Eagle Bay Advisors LLC lifted its holdings in shares of Commerce Bancshares by 2,864.7% during the 2nd quarter. Eagle Bay Advisors LLC now owns 1,008 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 974 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Commerce Bancshares by 93.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,670 shares of the financial services provider’s stock worth $89,000 after acquiring an additional 805 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

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.