Insider Selling: Commerce Bancshares (NASDAQ:CBSH) Insider Sells $48,654.06 in Stock

Commerce Bancshares (NASDAQ:CBSH) insider Patricia R. Kellerhals sold 798 shares of the stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $60.97, for a total value of $48,654.06. Following the transaction, the insider now owns 5,523 shares of the company’s stock, valued at $336,737.31. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

CBSH traded down $1.41 during trading hours on Friday, hitting $58.95. 542,954 shares of the stock were exchanged, compared to its average volume of 540,739. Commerce Bancshares has a 12 month low of $51.90 and a 12 month high of $61.88. The stock has a market capitalization of $6,451.98, a PE ratio of 21.28, a price-to-earnings-growth ratio of 2.26 and a beta of 0.69.

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Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $312.98 million. sell-side analysts predict that Commerce Bancshares will post 3.37 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, March 26th. Shareholders of record on Friday, March 9th were given a $0.235 dividend. The ex-dividend date was 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 yield of 1.59%. Commerce Bancshares’s dividend payout ratio (DPR) is currently 33.94%.

A number of hedge funds and other institutional investors have recently modified their holdings of CBSH. Tower Research Capital LLC TRC increased its position in Commerce Bancshares by 189.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,211 shares of the financial services provider’s stock worth $123,000 after buying an additional 1,448 shares during the period. GSA Capital Partners LLP acquired a new stake in Commerce Bancshares in the third quarter worth $283,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Commerce Bancshares by 52.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,093 shares of the financial services provider’s stock worth $284,000 after buying an additional 1,754 shares during the period. Archford Capital Strategies LLC increased its position in Commerce Bancshares by 25.3% in the third quarter. Archford Capital Strategies LLC now owns 5,003 shares of the financial services provider’s stock worth $289,000 after buying an additional 1,011 shares during the period. Finally, State of Alaska Department of Revenue acquired a new stake in Commerce Bancshares in the fourth quarter worth $312,000. 62.75% of the stock is currently owned by hedge funds and other institutional investors.

CBSH has been the subject of several research analyst reports. Keefe, Bruyette & Woods upgraded Commerce Bancshares from an “underperform” rating to a “market perform” rating and increased their target price for the company from $54.00 to $60.00 in a research note on Tuesday, February 27th. BidaskClub upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. Zacks Investment Research upgraded Commerce Bancshares from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a research note on Monday, January 8th. 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. Finally, ValuEngine cut Commerce Bancshares from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $57.88.

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About Commerce Bancshares

Commerce Bancshares, Inc operates as the holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online, mobile, and telephone banking services.

Insider Buying and Selling by Quarter for Commerce Bancshares (NASDAQ:CBSH)

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