Patricia R. Kellerhals Sells 884 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock

Commerce Bancshares, Inc. (NASDAQ:CBSHGet Rating) SVP Patricia R. Kellerhals sold 884 shares of the firm’s stock in a transaction that occurred on Tuesday, January 24th. The stock was sold at an average price of $65.37, for a total transaction of $57,787.08. Following the sale, the senior vice president now directly owns 9,417 shares of the company’s stock, valued at approximately $615,589.29. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Commerce Bancshares Trading Down 0.5 %

Shares of NASDAQ CBSH traded down $0.34 during midday trading on Wednesday, hitting $65.68. 347,327 shares of the company’s stock were exchanged, compared to its average volume of 391,295. Commerce Bancshares, Inc. has a 12-month low of $59.81 and a 12-month high of $72.60. The company has a market cap of $8.23 billion, a price-to-earnings ratio of 17.02 and a beta of 0.77. The business’s fifty day moving average price is $68.80 and its two-hundred day moving average price is $69.44.

Commerce Bancshares (NASDAQ:CBSHGet Rating) last issued its earnings results on Thursday, January 19th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.02. The firm had revenue of $391.50 million for the quarter, compared to analysts’ expectations of $395.61 million. Commerce Bancshares had a net margin of 31.60% and a return on equity of 18.60%. The business’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business earned $0.89 earnings per share. Equities analysts expect that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 16th. Stockholders of record on Friday, December 2nd were given a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 1.61%. The ex-dividend date was Thursday, December 1st. Commerce Bancshares’s dividend payout ratio is presently 27.54%.

Hedge Funds Weigh In On Commerce Bancshares

Hedge funds have recently bought and sold shares of the business. Raymond James & Associates grew its stake in shares of Commerce Bancshares by 8.6% during the 1st quarter. Raymond James & Associates now owns 58,372 shares of the financial services provider’s stock valued at $4,179,000 after acquiring an additional 4,611 shares during the period. HighTower Advisors LLC raised its holdings in Commerce Bancshares by 14.7% during the 1st quarter. HighTower Advisors LLC now owns 9,253 shares of the financial services provider’s stock valued at $659,000 after buying an additional 1,188 shares during the period. Natixis Advisors L.P. raised its holdings in Commerce Bancshares by 27.2% during the 1st quarter. Natixis Advisors L.P. now owns 25,339 shares of the financial services provider’s stock valued at $1,814,000 after buying an additional 5,417 shares during the period. Great West Life Assurance Co. Can grew its position in Commerce Bancshares by 7.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 59,984 shares of the financial services provider’s stock valued at $4,414,000 after acquiring an additional 4,310 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Commerce Bancshares by 1.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,110,800 shares of the financial services provider’s stock valued at $79,527,000 after acquiring an additional 12,655 shares during the last quarter. Hedge funds and other institutional investors own 64.12% of the company’s stock.

Wall Street Analyst Weigh In

CBSH has been the topic of a number of recent research reports. Piper Sandler increased their target price on Commerce Bancshares from $69.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, November 16th. StockNews.com started coverage on Commerce Bancshares in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Morgan Stanley lowered their target price on Commerce Bancshares from $70.48 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, January 6th.

Commerce Bancshares Company Profile

(Get Rating)

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.

See Also

Insider Buying and Selling by Quarter for Commerce Bancshares (NASDAQ:CBSH)

Receive News & Ratings for Commerce Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commerce Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.