Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Michael J. Petrie sold 618 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $57.13, for a total transaction of $35,306.34. Following the sale, the senior vice president now directly owns 10,375 shares of the company’s stock, valued at approximately $592,723.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Shares of Commerce Bancshares, Inc. (CBSH) opened at $59.05 on Friday. Commerce Bancshares, Inc. has a 12 month low of $51.90 and a 12 month high of $60.61. The company has a market cap of $6,278.56, a P/E ratio of 20.38, a PEG ratio of 2.21 and a beta of 0.77.
Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. Commerce Bancshares had a net margin of 25.27% and a return on equity of 12.22%. The firm had revenue of $314.22 million during the quarter, compared to analyst estimates of $312.98 million. equities analysts expect that Commerce Bancshares, Inc. will post 3.36 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 26th. Stockholders of record on Friday, March 9th will be paid a $0.235 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.23. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.59%. Commerce Bancshares’s payout ratio is currently 31.05%.
Hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its stake in shares of Commerce Bancshares by 3.4% in the third quarter. Bank of New York Mellon Corp now owns 1,083,851 shares of the financial services provider’s stock worth $62,613,000 after acquiring an additional 35,361 shares during the period. Cetera Investment Advisers bought a new stake in shares of Commerce Bancshares in the second quarter worth approximately $272,000. Nuance Investments LLC grew its stake in shares of Commerce Bancshares by 4.3% in the third quarter. Nuance Investments LLC now owns 996,414 shares of the financial services provider’s stock worth $57,563,000 after acquiring an additional 40,997 shares during the period. Crossmark Global Holdings Inc. bought a new stake in shares of Commerce Bancshares in the third quarter worth approximately $478,000. Finally, Schroder Investment Management Group grew its stake in shares of Commerce Bancshares by 1.5% in the third quarter. Schroder Investment Management Group now owns 844,628 shares of the financial services provider’s stock worth $48,491,000 after acquiring an additional 12,843 shares during the period. Hedge funds and other institutional investors own 59.77% of the company’s stock.
Several equities research analysts have weighed in on CBSH shares. Zacks Investment Research raised shares of Commerce Bancshares from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research report on Monday, January 8th. Barclays raised their target price on shares of Commerce Bancshares from $55.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. BidaskClub raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, December 28th. Piper Jaffray Companies reissued a “hold” rating and set a $58.00 price target on shares of Commerce Bancshares in a research report on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods restated a “sell” rating and set a $54.00 price objective on shares of Commerce Bancshares in a research note on Friday, January 19th. Four investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $57.13.
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Commerce Bancshares Company Profile
Commerce Bancshares, Inc is a bank holding company of Commerce Bank (the Bank). The Bank is engaged in general banking business, providing a range of retail, mortgage banking, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.
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