Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Douglas D. Neff Sells 888 Shares

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Douglas D. Neff sold 888 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $72.10, for a total transaction of $64,024.80. Following the sale, the senior vice president now directly owns 8,038 shares in the company, valued at approximately $579,539.80. This represents a 9.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Commerce Bancshares Stock Performance

Shares of NASDAQ:CBSH opened at $71.57 on Friday. The stock has a market capitalization of $9.18 billion, a P/E ratio of 18.64, a PEG ratio of 3.87 and a beta of 0.73. Commerce Bancshares, Inc. has a 1 year low of $46.72 and a 1 year high of $73.31. The stock has a 50-day simple moving average of $62.45 and a 200-day simple moving average of $59.74.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.07. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. The company had revenue of $421.38 million during the quarter, compared to analyst estimates of $412.85 million. Analysts predict that Commerce Bancshares, Inc. will post 4.02 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.08 annualized dividend and a dividend yield of 1.51%. Commerce Bancshares’s payout ratio is currently 28.13%.

Institutional Trading of Commerce Bancshares

Large investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in shares of Commerce Bancshares by 7.3% in the third quarter. Geode Capital Management LLC now owns 2,396,740 shares of the financial services provider’s stock valued at $142,951,000 after purchasing an additional 163,782 shares during the period. M&T Bank Corp grew its stake in shares of Commerce Bancshares by 0.6% during the third quarter. M&T Bank Corp now owns 63,756 shares of the financial services provider’s stock valued at $3,787,000 after acquiring an additional 372 shares in the last quarter. Barclays PLC increased its position in shares of Commerce Bancshares by 19.4% during the third quarter. Barclays PLC now owns 106,934 shares of the financial services provider’s stock worth $6,353,000 after acquiring an additional 17,400 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Commerce Bancshares in the third quarter worth about $1,967,000. Finally, MML Investors Services LLC boosted its holdings in Commerce Bancshares by 22.1% in the third quarter. MML Investors Services LLC now owns 9,902 shares of the financial services provider’s stock valued at $588,000 after purchasing an additional 1,794 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CBSH shares. Piper Sandler set a $68.50 price target on Commerce Bancshares and gave the stock a “neutral” rating in a research note on Friday, October 18th. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Morgan Stanley downgraded Commerce Bancshares from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $66.00 to $64.00 in a report on Monday, September 30th. Finally, Wells Fargo & Company lifted their price target on Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a report on Monday, July 22nd. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $61.79.

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.