Commerce Bancshares, Inc. (NASDAQ:CBSH) Chairman David W. Kemper Sells 3,708 Shares

Commerce Bancshares, Inc. (NASDAQ:CBSH) Chairman David W. Kemper sold 3,708 shares of Commerce Bancshares stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $66.16, for a total transaction of $245,321.28. Following the sale, the chairman now owns 1,208,311 shares of the company’s stock, valued at $79,941,855.76. The trade was a 0.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Commerce Bancshares Price Performance

Shares of NASDAQ:CBSH traded up $1.58 during trading hours on Tuesday, hitting $67.45. The company’s stock had a trading volume of 474,710 shares, compared to its average volume of 550,560. The firm’s fifty day moving average price is $65.84 and its 200 day moving average price is $64.07. Commerce Bancshares, Inc. has a 52 week low of $47.09 and a 52 week high of $72.75. The company has a market capitalization of $8.65 billion, a price-to-earnings ratio of 16.82, a P/E/G ratio of 2.21 and a beta of 0.80.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The firm had revenue of $422.10 million for the quarter, compared to the consensus estimate of $417.48 million. During the same quarter in the previous year, the firm earned $0.84 EPS. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities research analysts predict that Commerce Bancshares, Inc. will post 3.9 earnings per share for the current fiscal year.

Commerce Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be given a $0.275 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.63%. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s payout ratio is presently 26.93%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in shares of Commerce Bancshares in the 3rd quarter worth approximately $26,000. Allworth Financial LP grew its position in Commerce Bancshares by 51.1% during the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 192 shares during the last quarter. Marshall Investment Management LLC purchased a new stake in Commerce Bancshares during the 4th quarter worth approximately $35,000. Capital Performance Advisors LLP purchased a new stake in Commerce Bancshares during the 3rd quarter worth approximately $39,000. Finally, True Wealth Design LLC purchased a new stake in Commerce Bancshares during the 3rd quarter worth approximately $47,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

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.