Commerce Bancshares, Inc. (NASDAQ:CBSH) insider Sara E. Foster sold 1,168 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $58.00, for a total transaction of $67,744.00. Following the sale, the insider now directly owns 47,031 shares in the company, valued at $2,727,798. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Commerce Bancshares, Inc. (CBSH) opened at $59.13 on Friday. The firm has a market cap of $6,295.62, a PE ratio of 21.26, a P/E/G ratio of 2.21 and a beta of 0.77. Commerce Bancshares, Inc. has a 12 month low of $51.90 and a 12 month high of $60.61.
Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.03. The firm had revenue of $314.22 million for the quarter, compared to analyst estimates of $312.98 million. Commerce Bancshares had a net margin of 25.27% and a return on equity of 12.22%. analysts predict that Commerce Bancshares, Inc. will post 3.36 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 26th. Investors 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 yield of 1.59%. Commerce Bancshares’s dividend payout ratio (DPR) is currently 31.05%.
Several equities research analysts have recently issued reports on CBSH shares. Zacks Investment Research raised shares of Commerce Bancshares from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research note on Monday, January 8th. Barclays raised their price target on shares of Commerce Bancshares from $55.00 to $59.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. BidaskClub raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, December 28th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $58.00 price target on shares of Commerce Bancshares in a research note on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods reaffirmed a “sell” rating and issued a $54.00 price target on shares of Commerce Bancshares in a research note on Friday, January 19th. Four research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Commerce Bancshares presently has a consensus rating of “Hold” and a consensus price target of $57.13.
A number of hedge funds have recently added to or reduced their stakes in CBSH. Tower Research Capital LLC TRC raised its holdings in Commerce Bancshares by 189.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,211 shares of the financial services provider’s stock valued at $123,000 after acquiring an additional 1,448 shares during the last quarter. SignalPoint Asset Management LLC acquired a new stake in Commerce Bancshares in the 3rd quarter valued at about $226,000. Wedbush Securities Inc. acquired a new stake in Commerce Bancshares in the 3rd quarter valued at about $229,000. Cetera Investment Advisers acquired a new stake in Commerce Bancshares in the 2nd quarter valued at about $272,000. Finally, GSA Capital Partners LLP acquired a new stake in Commerce Bancshares in the 3rd quarter valued at about $283,000. Institutional investors own 59.77% of the company’s stock.
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About Commerce Bancshares
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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