Patricia R. Kellerhals Sells 2,000 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Patricia R. Kellerhals sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $62.23, for a total transaction of $124,460.00. Following the completion of the sale, the senior vice president now directly owns 23,381 shares in the company, valued at $1,454,999.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Commerce Bancshares Stock Up 0.2 %

NASDAQ CBSH opened at $62.39 on Thursday. Commerce Bancshares, Inc. has a 52 week low of $40.91 and a 52 week high of $65.86. The stock has a market capitalization of $8.04 billion, a PE ratio of 17.40, a price-to-earnings-growth ratio of 10.29 and a beta of 0.75. The firm has a 50 day moving average of $61.98 and a two-hundred day moving average of $56.84.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $0.90 by $0.17. Commerce Bancshares had a net margin of 23.62% and a return on equity of 16.50%. The company had revenue of $414.90 million during the quarter, compared to analysts’ expectations of $406.88 million. During the same quarter in the previous year, the business posted $0.97 EPS. The firm’s revenue was up 4.5% on a year-over-year basis. On average, equities research analysts expect that Commerce Bancshares, Inc. will post 3.96 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Thursday, September 5th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.73%. The ex-dividend date is Thursday, September 5th. Commerce Bancshares’s dividend payout ratio (DPR) is presently 30.12%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. United Advisor Group LLC acquired a new position in shares of Commerce Bancshares in the 4th quarter valued at $3,827,000. Vanguard Group Inc. boosted its holdings in shares of Commerce Bancshares by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 12,631,645 shares of the financial services provider’s stock valued at $672,004,000 after buying an additional 259,127 shares in the last quarter. Speece Thorson Capital Group Inc. boosted its holdings in shares of Commerce Bancshares by 37.3% in the 4th quarter. Speece Thorson Capital Group Inc. now owns 232,774 shares of the financial services provider’s stock valued at $12,432,000 after buying an additional 63,266 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of Commerce Bancshares in the 4th quarter valued at $1,176,000. Finally, SG Americas Securities LLC acquired a new position in shares of Commerce Bancshares in the 2nd quarter valued at $1,226,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CBSH shares. Wells Fargo & Company boosted their price target on shares of Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Jefferies Financial Group lifted their price objective on shares of Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Finally, Morgan Stanley lifted their price objective on shares of Commerce Bancshares from $58.00 to $66.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $60.00.

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.