Commerce Bancshares, Inc. (NASDAQ:CBSH) EVP Sells $106,848.28 in Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) EVP Kevin G. Barth sold 1,582 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $67.54, for a total value of $106,848.28. Following the completion of the sale, the executive vice president now owns 65,409 shares in the company, valued at $4,417,723.86. This represents a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Commerce Bancshares Stock Performance

CBSH opened at $62.89 on Friday. Commerce Bancshares, Inc. has a 1 year low of $47.09 and a 1 year high of $72.75. The company’s 50 day simple moving average is $67.18 and its 200 day simple moving average is $62.07. The stock has a market capitalization of $8.06 billion, a PE ratio of 16.38, a P/E/G ratio of 2.92 and a beta of 0.77.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.07. The company had revenue of $421.38 million for the quarter, compared to analyst estimates of $412.85 million. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. As a group, sell-side analysts expect that Commerce Bancshares, Inc. will post 3.95 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Tuesday, December 3rd. Commerce Bancshares’s dividend payout ratio (DPR) is presently 28.13%.

Institutional Investors Weigh In On Commerce Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in CBSH. V Square Quantitative Management LLC purchased a new stake in shares of Commerce Bancshares during the 3rd quarter worth about $26,000. Allworth Financial LP lifted its position in Commerce Bancshares by 51.1% during the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after buying an additional 192 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in Commerce Bancshares during the third quarter worth approximately $39,000. True Wealth Design LLC acquired a new stake in shares of Commerce Bancshares in the third quarter worth $47,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Commerce Bancshares by 48.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 287 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Piper Sandler set a $68.50 target price on shares of Commerce Bancshares and gave the company a “neutral” rating in a report on Friday, October 18th. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Morgan Stanley lowered shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $66.00 to $64.00 in a research report on Monday, September 30th. Wells Fargo & Company lifted their target price on shares of Commerce Bancshares from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. Finally, Raymond James lowered Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday. Eight equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Commerce Bancshares presently has a consensus rating of “Hold” and a consensus price target of $65.07.

About Commerce Bancshares

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.