Commerce Bancshares (NASDAQ:CBSH) Announces Earnings Results

Commerce Bancshares (NASDAQ:CBSH) posted its quarterly earnings results on Wednesday. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.06, Zacks reports. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%.

Commerce Bancshares Stock Up 1.0 %

Shares of Commerce Bancshares stock opened at $65.48 on Wednesday. Commerce Bancshares has a 12-month low of $47.09 and a 12-month high of $72.75. The stock has a market capitalization of $8.40 billion, a P/E ratio of 17.05, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79. The company has a 50-day simple moving average of $66.90 and a 200 day simple moving average of $63.60.

Commerce Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd were paid a $0.27 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $1.08 annualized dividend and a dividend yield of 1.65%. Commerce Bancshares’s dividend payout ratio is presently 28.13%.

Insider Buying and Selling at Commerce Bancshares

In other news, SVP David L. Roller sold 890 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $72.27, for a total transaction of $64,320.30. Following the transaction, the senior vice president now owns 30,949 shares of the company’s stock, valued at $2,236,684.23. This represents a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kevin G. Barth sold 1,582 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $67.54, for a total transaction of $106,848.28. Following the sale, the executive vice president now owns 65,409 shares of the company’s stock, valued at approximately $4,417,723.86. This represents a 2.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,398 shares of company stock worth $651,265 over the last ninety days. Corporate insiders own 3.10% of the company’s stock.

Analyst Ratings Changes

CBSH has been the topic of several research reports. Wells Fargo & Company boosted their price target on Commerce Bancshares from $62.00 to $67.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 3rd. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, January 13th. Raymond James cut Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Piper Sandler set a $68.50 price target on shares of Commerce Bancshares and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Morgan Stanley downgraded shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $66.00 to $64.00 in a report on Monday, September 30th. Seven analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $66.75.

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.