Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Michael J. Petrie sold 617 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $58.95, for a total transaction of $36,372.15. Following the transaction, the senior vice president now owns 10,427 shares in the company, valued at $614,671.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Commerce Bancshares, Inc. (NASDAQ:CBSH) traded down $0.97 during mid-day trading on Friday, hitting $57.90. 519,900 shares of the stock traded hands, compared to its average volume of 467,395. The firm has a market capitalization of $6,276.42, a price-to-earnings ratio of 19.98, a PEG ratio of 2.21 and a beta of 0.77. Commerce Bancshares, Inc. has a twelve month low of $51.90 and a twelve month high of $60.61.
Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.71 by $0.03. The business 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 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 26th. Stockholders of record on Friday, March 9th will be given 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 annualized dividend and a dividend yield of 1.62%. Commerce Bancshares’s dividend payout ratio is currently 31.05%.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Commerce Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. BidaskClub upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, February 5th. Barclays restated a “hold” rating and set a $63.00 target price on shares of Commerce Bancshares in a research report on Sunday, January 21st. Keefe, Bruyette & Woods restated a “sell” rating and set a $54.00 target price on shares of Commerce Bancshares in a research report on Friday, January 19th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $58.00 target price on shares of Commerce Bancshares in a research report on Tuesday, January 9th. Four equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. The stock has an average rating of “Hold” and an average price target of $57.13.
Several hedge funds have recently added to or reduced their stakes in CBSH. BlackRock Inc. grew its position in shares of Commerce Bancshares by 6.2% in the fourth quarter. BlackRock Inc. now owns 8,217,981 shares of the financial services provider’s stock valued at $458,894,000 after purchasing an additional 481,612 shares during the last quarter. Schroder Investment Management Group grew its position in shares of Commerce Bancshares by 49.9% in the fourth quarter. Schroder Investment Management Group now owns 1,266,154 shares of the financial services provider’s stock valued at $70,702,000 after purchasing an additional 421,526 shares during the last quarter. American Century Companies Inc. grew its position in shares of Commerce Bancshares by 11.3% in the fourth quarter. American Century Companies Inc. now owns 3,643,390 shares of the financial services provider’s stock valued at $203,447,000 after purchasing an additional 369,008 shares during the last quarter. Commerce Bank grew its position in shares of Commerce Bancshares by 4.6% in the fourth quarter. Commerce Bank now owns 7,369,241 shares of the financial services provider’s stock valued at $411,498,000 after purchasing an additional 325,364 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in shares of Commerce Bancshares by 11.3% in the fourth quarter. Lazard Asset Management LLC now owns 1,637,293 shares of the financial services provider’s stock valued at $91,425,000 after purchasing an additional 165,690 shares during the last quarter. Institutional investors and hedge funds own 60.60% of the company’s stock.
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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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