Commerce Bancshares (NASDAQ:CBSH) Director Timothy Dunn Acquires 2,500 Shares

Commerce Bancshares, Inc. (NASDAQ:CBSH) Director Timothy Dunn bought 2,500 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was acquired at an average cost of $47.71 per share, with a total value of $119,275.00. Following the transaction, the director owned 5,403 shares in the company, valued at $257,777.13. The trade was a 86.12% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Commerce Bancshares Stock Down 0.3%

Shares of NASDAQ CBSH opened at $47.82 on Wednesday. The firm’s 50-day moving average price is $52.66 and its 200-day moving average price is $53.19. The company has a market cap of $7.02 billion, a PE ratio of 11.41, a PEG ratio of 2.40 and a beta of 0.61. Commerce Bancshares, Inc. has a 52-week low of $47.28 and a 52-week high of $63.19.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data 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. The firm had revenue of $449.36 million during the quarter, compared to analysts’ expectations of $442.47 million. Commerce Bancshares had a net margin of 26.51% and a return on equity of 15.34%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.01 earnings per share. As a group, equities research analysts anticipate that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Friday, March 6th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, March 6th. Commerce Bancshares’s dividend payout ratio is presently 26.25%.

Hedge Funds Weigh In On Commerce Bancshares

Hedge funds have recently modified their holdings of the stock. Daytona Street Capital LLC bought a new stake in Commerce Bancshares in the 4th quarter valued at $25,000. Danske Bank A S bought a new position in shares of Commerce Bancshares during the 3rd quarter valued at about $25,000. Geneos Wealth Management Inc. grew 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 valued at $29,000 after purchasing an additional 216 shares in the last quarter. Quent Capital LLC purchased a new position in shares of Commerce Bancshares during the third quarter valued at about $31,000. Finally, CoreFirst Bank & Trust bought a new stake in shares of Commerce Bancshares in the second quarter worth about $33,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on CBSH. Piper Sandler set a $62.00 price objective on Commerce Bancshares and gave the company a “neutral” rating in a research report on Monday, January 26th. Morgan Stanley cut their price target on Commerce Bancshares from $67.00 to $65.00 and set an “equal weight” rating for the company in a research note on Monday, March 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Commerce Bancshares in a research report on Monday, December 29th. Zacks Research raised shares of Commerce Bancshares from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Finally, TD Cowen cut their target price on shares of Commerce Bancshares from $61.00 to $55.00 and set a “hold” rating for the company in a research report on Wednesday, January 7th. One research analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $61.51.

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.