Commerce Bancshares, Inc. (NASDAQ:CBSH) CFO Sells $914,285.68 in Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) CFO Charles G. Kim sold 13,493 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $67.76, for a total transaction of $914,285.68. Following the sale, the chief financial officer now owns 86,246 shares of the company’s stock, valued at approximately $5,844,028.96. The trade was a 13.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Commerce Bancshares Stock Up 0.2 %

CBSH stock traded up $0.11 during midday trading on Tuesday, hitting $66.84. 176,821 shares of the company traded hands, compared to its average volume of 525,230. Commerce Bancshares, Inc. has a twelve month low of $47.09 and a twelve month high of $72.75. The business has a 50 day simple moving average of $65.24 and a 200-day simple moving average of $64.21. The stock has a market capitalization of $8.57 billion, a price-to-earnings ratio of 16.67, a price-to-earnings-growth ratio of 2.27 and a beta of 0.80.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.95 by $0.06. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The company had revenue of $422.10 million for the quarter, compared to the consensus estimate of $417.48 million. During the same quarter last year, the company posted $0.84 earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. Equities research analysts forecast that Commerce Bancshares, Inc. will post 3.9 EPS for the current year.

Commerce Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.275 per share. The ex-dividend date is Friday, March 7th. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.65%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 26.93%.

Institutional Trading of Commerce Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Virtu Financial LLC bought a new stake in Commerce Bancshares in the 3rd quarter valued at approximately $566,000. Procyon Advisors LLC bought a new position in shares of Commerce Bancshares in the fourth quarter valued at $200,000. Centiva Capital LP bought a new position in shares of Commerce Bancshares in the third quarter valued at $581,000. PFW Advisors LLC bought a new position in shares of Commerce Bancshares in the fourth quarter valued at $1,336,000. Finally, Barclays PLC lifted its holdings in Commerce Bancshares by 19.4% during the 3rd quarter. Barclays PLC now owns 106,934 shares of the financial services provider’s stock valued at $6,353,000 after purchasing an additional 17,400 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Wells Fargo & Company upped their target price on Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Piper Sandler upped their target price on Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Keefe, Bruyette & Woods upped their target price on Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Raymond James downgraded Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Seven analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Commerce Bancshares presently has a consensus rating of “Hold” and an average target price of $67.83.

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.