John K. Handy Sells 4,844 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) EVP John K. Handy sold 4,844 shares of Commerce Bancshares stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $67.25, for a total transaction of $325,759.00. Following the transaction, the executive vice president now directly owns 40,655 shares of the company’s stock, valued at $2,734,048.75. The trade was a 10.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Commerce Bancshares Stock Performance

Shares of CBSH stock opened at $68.36 on Thursday. Commerce Bancshares, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $72.75. The firm has a market capitalization 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 stock’s 50-day simple moving average is $65.60 and its 200-day simple moving average is $64.13.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The business had revenue of $422.10 million for the quarter, compared to analyst estimates of $417.48 million. During the same quarter in the previous year, the firm earned $0.84 earnings per share. The company’s revenue was up 7.3% on a year-over-year basis. As a group, equities analysts forecast that Commerce Bancshares, Inc. will post 3.9 earnings per share for the current year.

Commerce Bancshares Increases Dividend

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

Wall Street Analysts Forecast Growth

CBSH has been the subject of several recent analyst reports. Piper Sandler lifted their price objective on shares of Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods lifted their price objective on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. 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 lowered shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Finally, Wells Fargo & Company boosted their target price on shares of Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $67.83.

Institutional Investors Weigh In On Commerce Bancshares

A number of large investors have recently bought and sold shares of the company. Sound Stewardship LLC boosted its position in Commerce Bancshares by 3.9% in the 3rd quarter. Sound Stewardship LLC now owns 4,339 shares of the financial services provider’s stock worth $258,000 after purchasing an additional 163 shares in the last quarter. Atria Wealth Solutions Inc. boosted its position in Commerce Bancshares by 1.5% in the 4th quarter. Atria Wealth Solutions Inc. now owns 11,062 shares of the financial services provider’s stock worth $689,000 after purchasing an additional 166 shares in the last quarter. Apriem Advisors boosted its position in Commerce Bancshares by 5.0% in the 4th quarter. Apriem Advisors now owns 3,827 shares of the financial services provider’s stock worth $238,000 after purchasing an additional 182 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its position in Commerce Bancshares by 4.9% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 3,908 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 183 shares in the last quarter. Finally, Verde Capital Management boosted its position in Commerce Bancshares by 5.4% in the 4th quarter. Verde Capital Management now owns 3,573 shares of the financial services provider’s stock worth $223,000 after purchasing an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

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.