Commerce Bancshares, Inc. (NASDAQ:CBSH) Director Sells $145,824.70 in Stock

Commerce Bancshares, Inc. (NASDAQ:CBSHGet Free Report) Director David W. Kemper sold 2,870 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $50.81, for a total transaction of $145,824.70. Following the sale, the director now directly owns 1,181,994 shares in the company, valued at approximately $60,057,115.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Commerce Bancshares Trading Up 1.4 %

Shares of CBSH stock opened at $51.16 on Friday. Commerce Bancshares, Inc. has a 12 month low of $40.91 and a 12 month high of $64.16. The stock has a market cap of $6.68 billion, a P/E ratio of 14.09 and a beta of 0.80. The company has a 50 day simple moving average of $53.04 and a two-hundred day simple moving average of $50.23.

Commerce Bancshares (NASDAQ:CBSHGet Free Report) last announced its earnings results on Thursday, January 18th. The financial services provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.02. Commerce Bancshares had a net margin of 24.41% and a return on equity of 17.46%. The business had revenue of $393.30 million during the quarter, compared to analysts’ expectations of $386.34 million. During the same period in the prior year, the company earned $0.99 earnings per share. The firm’s revenue was up .5% on a year-over-year basis. As a group, equities analysts forecast that Commerce Bancshares, Inc. will post 3.23 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 25th. Shareholders of record on Thursday, March 7th will be issued a dividend of $0.27 per share. The ex-dividend date is Wednesday, March 6th. This represents a $1.08 dividend on an annualized basis and a yield of 2.11%. Commerce Bancshares’s dividend payout ratio is currently 29.75%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CBSH shares. Piper Sandler dropped their target price on shares of Commerce Bancshares from $52.00 to $51.00 and set a “neutral” rating on the stock in a research note on Friday, October 20th. Morgan Stanley boosted their price objective on shares of Commerce Bancshares from $46.00 to $55.00 and gave the company an “equal weight” rating in a report on Wednesday. Keefe, Bruyette & Woods boosted their price objective on shares of Commerce Bancshares from $54.00 to $56.00 and gave the company a “market perform” rating in a report on Friday, January 19th. Bank of America assumed coverage on shares of Commerce Bancshares in a report on Thursday, January 11th. They set a “neutral” rating and a $55.00 price objective for the company. Finally, Wells Fargo & Company decreased their price objective on shares of Commerce Bancshares from $52.00 to $50.00 and set an “equal weight” rating for the company in a report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $53.17.

Read Our Latest Research Report on Commerce Bancshares

Institutional Trading of Commerce Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CBSH. BKM Wealth Management LLC purchased a new stake in shares of Commerce Bancshares in the fourth quarter worth $29,000. Creative Financial Designs Inc. ADV purchased a new stake in shares of Commerce Bancshares in the fourth quarter worth $35,000. PCA Investment Advisory Services Inc. purchased a new stake in shares of Commerce Bancshares in the second quarter worth $38,000. Quantbot Technologies LP purchased a new stake in shares of Commerce Bancshares in the second quarter worth $42,000. Finally, Adirondack Trust Co. purchased a new stake in shares of Commerce Bancshares in the third quarter worth $44,000. 69.63% of the stock is owned by hedge funds and other institutional investors.

About Commerce Bancshares

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Commerce Bancshares (NASDAQ:CBSH)

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