Commerce Bancshares, Inc. (NASDAQ:CBSH) insider Jeffrey M. Burik sold 850 shares of the stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $60.97, for a total value of $51,824.50. Following the transaction, the insider now owns 30,055 shares in the company, valued at approximately $1,832,453.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Commerce Bancshares, Inc. (NASDAQ:CBSH) traded up $0.29 during trading on Friday, reaching $61.43. The company’s stock had a trading volume of 367,102 shares, compared to its average volume of 466,301. Commerce Bancshares, Inc. has a 12-month low of $51.90 and a 12-month high of $61.83. The company has a market cap of $6,476.56, a price-to-earnings ratio of 21.19, a PEG ratio of 2.27 and a beta of 0.76.
Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.03. Commerce Bancshares had a return on equity of 12.22% and a net margin of 25.27%. The firm had revenue of $314.22 million for the quarter, compared to analyst estimates of $312.98 million. equities analysts anticipate that Commerce Bancshares, Inc. will post 3.36 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 26th. Shareholders of record on Friday, March 9th will be issued a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Thursday, March 8th. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.23. Commerce Bancshares’s dividend payout ratio (DPR) is currently 32.44%.
A number of equities analysts have recently weighed in on CBSH shares. Zacks Investment Research upgraded 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. BidaskClub upgraded Commerce Bancshares from a “hold” rating to a “buy” rating in a research note on Thursday. Barclays raised their price objective on Commerce Bancshares from $55.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Piper Jaffray Companies restated a “hold” rating and set a $58.00 price objective on shares of Commerce Bancshares in a research note on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods upgraded Commerce Bancshares from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $54.00 to $60.00 in a research note on Tuesday, February 27th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $57.88.
Several hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its holdings in shares of Commerce Bancshares by 6.2% in the 4th 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 in the last quarter. Commerce Bank boosted its holdings in shares of Commerce Bancshares by 4.6% in the 4th 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 in the last quarter. American Century Companies Inc. boosted its holdings in shares of Commerce Bancshares by 11.3% in the 4th 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 in the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Commerce Bancshares by 11.3% in the 4th 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 in the last quarter. Finally, Schroder Investment Management Group boosted its holdings in shares of Commerce Bancshares by 49.9% in the 4th 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 in the last quarter. 62.78% of the stock is currently owned by hedge funds and other institutional investors.
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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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