Insider Selling: Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Sells 888 Shares of Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Douglas D. Neff sold 888 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $72.10, for a total transaction of $64,024.80. Following the sale, the senior vice president now owns 8,038 shares in the company, valued at approximately $579,539.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Commerce Bancshares Stock Down 0.0 %

CBSH traded down $0.01 during trading on Thursday, hitting $71.96. The company’s stock had a trading volume of 213,948 shares, compared to its average volume of 532,862. The business’s 50 day simple moving average is $62.05 and its 200-day simple moving average is $59.54. The firm has a market cap of $9.23 billion, a PE ratio of 18.74, a P/E/G ratio of 3.90 and a beta of 0.73. Commerce Bancshares, Inc. has a one year low of $46.38 and a one year high of $73.31.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. The company had revenue of $421.38 million for the quarter, compared to analysts’ expectations of $412.85 million. Equities research analysts expect that Commerce Bancshares, Inc. will post 4.02 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd will be paid a dividend of $0.27 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.50%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 28.13%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Piper Sandler set a $68.50 target price on Commerce Bancshares and gave the stock a “neutral” rating in a research report on Friday, October 18th. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Wells Fargo & Company increased their price objective on shares of Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. Finally, Morgan Stanley downgraded shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $66.00 to $64.00 in a research report on Monday, September 30th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $61.79.

Institutional Investors Weigh In On Commerce Bancshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new position in shares of Commerce Bancshares in the third quarter valued at about $26,000. Allworth Financial LP lifted its holdings in Commerce Bancshares by 51.1% in the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 192 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Commerce Bancshares in the 3rd quarter worth approximately $39,000. Bessemer Group Inc. boosted its stake in Commerce Bancshares by 86.3% in the 1st quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 390 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Commerce Bancshares by 156.5% during the 2nd quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock valued at $48,000 after buying an additional 521 shares in the last quarter. Institutional investors 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.