Commerce Bancshares (NASDAQ:CBSH) CEO John Kemper Sells 23,397 Shares

Commerce Bancshares, Inc. (NASDAQ:CBSH) CEO John Kemper sold 23,397 shares of Commerce Bancshares stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $53.99, for a total transaction of $1,263,204.03. Following the completion of the transaction, the chief executive officer directly owned 206,528 shares in the company, valued at $11,150,446.72. The trade was a 10.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Commerce Bancshares Stock Up 0.1%

Shares of NASDAQ CBSH traded up $0.06 during mid-day trading on Monday, hitting $55.23. 1,714,716 shares of the company were exchanged, compared to its average volume of 1,294,987. The stock has a 50 day simple moving average of $53.22 and a 200-day simple moving average of $54.49. Commerce Bancshares, Inc. has a 1-year low of $48.69 and a 1-year high of $64.53. The firm has a market cap of $7.31 billion, a price-to-earnings ratio of 13.18, a price-to-earnings-growth ratio of 2.74 and a beta of 0.62.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Thursday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.02. Commerce Bancshares had a net margin of 26.51% and a return on equity of 15.51%. The business had revenue of $449.36 million for the quarter, compared to the consensus estimate of $442.47 million. During the same quarter in the previous year, the firm earned $1.01 earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. Analysts anticipate that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Friday, March 6th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Friday, March 6th. Commerce Bancshares’s payout ratio is currently 26.25%.

Institutional Trading of Commerce Bancshares

Institutional investors have recently added to or reduced their stakes in the business. Daytona Street Capital LLC acquired a new position in Commerce Bancshares during the 4th quarter worth approximately $25,000. Danske Bank A S purchased a new stake in shares of Commerce Bancshares during the third quarter valued at approximately $25,000. Geneos Wealth Management Inc. lifted its position in shares of Commerce Bancshares by 85.4% during the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 216 shares in the last quarter. Quent Capital LLC purchased a new position in shares of Commerce Bancshares in the third quarter valued at $31,000. Finally, CoreFirst Bank & Trust acquired a new stake in Commerce Bancshares during the 2nd quarter valued at $33,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CBSH. Wells Fargo & Company cut their price target on Commerce Bancshares from $61.90 to $57.14 and set an “equal weight” rating for the company in a report on Tuesday, October 21st. Keefe, Bruyette & Woods cut their target price on shares of Commerce Bancshares from $61.90 to $57.14 and set a “market perform” rating for the company in a research note on Friday, October 17th. Piper Sandler set a $62.00 price target on shares of Commerce Bancshares and gave the stock a “neutral” rating in a research note on Monday, January 26th. Zacks Research lowered shares of Commerce Bancshares from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Commerce Bancshares in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Commerce Bancshares presently has an average rating of “Reduce” and a consensus target price of $61.75.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.