Commerce Bancshares, Inc. (NASDAQ:CBSH) CEO John W. Kemper Sells 26,042 Shares

Commerce Bancshares, Inc. (NASDAQ:CBSH) CEO John W. Kemper sold 26,042 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $67.28, for a total transaction of $1,752,105.76. Following the completion of the transaction, the chief executive officer now owns 211,929 shares of the company’s stock, valued at $14,258,583.12. This trade represents a 10.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Commerce Bancshares Stock Up 0.3 %

Shares of CBSH stock opened at $68.59 on Friday. The company’s fifty day simple moving average is $65.49 and its 200-day simple moving average is $64.16. The firm has a market cap of $8.80 billion, a PE ratio of 17.10, a P/E/G ratio of 2.21 and a beta of 0.80. Commerce Bancshares, Inc. has a 12 month low of $47.09 and a 12 month 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 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The business had revenue of $422.10 million for the quarter, compared to analyst estimates of $417.48 million. During the same quarter in the previous year, the firm posted $0.84 earnings per share. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities analysts predict that Commerce Bancshares, Inc. will post 3.9 earnings per share for the current fiscal year.

Commerce Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be given a dividend of $0.275 per share. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. This represents a $1.10 annualized dividend and a yield of 1.60%. The ex-dividend date is Friday, March 7th. Commerce Bancshares’s dividend payout ratio is 26.93%.

Institutional Trading of Commerce Bancshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in Commerce Bancshares during the third quarter worth $566,000. Procyon Advisors LLC bought a new stake in Commerce Bancshares during the fourth quarter worth $200,000. Centiva Capital LP bought a new stake in Commerce Bancshares during the third quarter worth $581,000. PFW Advisors LLC bought a new stake in Commerce Bancshares during the fourth quarter worth $1,336,000. Finally, Barclays PLC raised its position in 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 in the last quarter. 70.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

About Commerce Bancshares

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.