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 that occurred on Friday, February 7th. The shares were sold at an average price of $67.76, for a total value of $914,285.68. Following the transaction, the chief financial officer now owns 86,246 shares of the company’s stock, valued at $5,844,028.96. This represents a 13.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Commerce Bancshares Stock Up 0.9 %

Shares of Commerce Bancshares stock opened at $67.36 on Wednesday. The firm has a market cap of $8.64 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 2.27 and a beta of 0.80. The business has a fifty day simple moving average of $65.21 and a 200-day simple moving average of $64.23. Commerce Bancshares, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.06. The business had revenue of $422.10 million during the quarter, compared to analyst estimates of $417.48 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The company’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 earnings per share. Analysts anticipate 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 issued a $0.275 dividend. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.10 annualized dividend and a dividend yield of 1.63%. Commerce Bancshares’s dividend payout ratio is 26.93%.

Analyst Ratings Changes

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

Institutional Trading of Commerce Bancshares

Several institutional investors have recently modified their holdings of the company. TIAA Trust National Association lifted its holdings in shares of Commerce Bancshares by 5.0% in the fourth quarter. TIAA Trust National Association now owns 4,757 shares of the financial services provider’s stock valued at $296,000 after buying an additional 227 shares during the period. Modern Wealth Management LLC raised its position in shares of Commerce Bancshares by 18.5% during the fourth quarter. Modern Wealth Management LLC now owns 16,638 shares of the financial services provider’s stock worth $1,110,000 after purchasing an additional 2,595 shares during the period. CoreFirst Bank & Trust acquired a new stake in shares of Commerce Bancshares during the fourth quarter worth $33,000. ICW Investment Advisors LLC raised its position in shares of Commerce Bancshares by 2.9% during the fourth quarter. ICW Investment Advisors LLC now owns 10,089 shares of the financial services provider’s stock worth $629,000 after purchasing an additional 287 shares during the period. Finally, Angeles Investment Advisors LLC raised its position in shares of Commerce Bancshares by 5.0% during the fourth quarter. Angeles Investment Advisors LLC now owns 4,074 shares of the financial services provider’s stock worth $254,000 after purchasing an additional 194 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

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.