Commerce Bancshares (NASDAQ:CBSH) insider Jeffrey M. Burik sold 850 shares of the firm’s stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $60.97, for a total value of $51,824.50. Following the transaction, the insider now directly owns 30,055 shares of the company’s stock, valued at approximately $1,832,453.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
CBSH opened at $58.95 on Friday. The company has a market capitalization of $6,451.98, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 2.26 and a beta of 0.69. Commerce Bancshares has a 12-month low of $51.90 and a 12-month high of $61.88.
Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Thursday, January 18th. The financial services provider reported $0.74 earnings per share (EPS) 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 return on equity of 12.22% and a net margin of 25.27%. equities research analysts forecast that Commerce Bancshares will post 3.37 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 26th. Stockholders of record on Friday, March 9th were issued a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend was Thursday, March 8th. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.23. Commerce Bancshares’s dividend payout ratio (DPR) is presently 33.94%.
Several brokerages recently issued reports on CBSH. Zacks Investment Research downgraded Commerce Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. Piper Jaffray reaffirmed a “hold” rating and set a $58.00 price target on shares of Commerce Bancshares in a research note on Tuesday, January 9th. BidaskClub downgraded Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, January 30th. Barclays reaffirmed a “hold” rating and set a $63.00 price target on shares of Commerce Bancshares in a research note on Sunday, January 21st. Finally, Keefe, Bruyette & Woods reaffirmed a “sell” rating and set a $54.00 price target on shares of Commerce Bancshares in a research note on Friday, January 19th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $57.88.
Several large investors have recently made changes to their positions in CBSH. Tower Research Capital LLC TRC grew its holdings in shares of Commerce Bancshares by 189.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,211 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 1,448 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Commerce Bancshares during the 3rd quarter worth approximately $283,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Commerce Bancshares by 52.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,093 shares of the financial services provider’s stock worth $284,000 after purchasing an additional 1,754 shares in the last quarter. Archford Capital Strategies LLC grew its holdings in shares of Commerce Bancshares by 25.3% during the 3rd quarter. Archford Capital Strategies LLC now owns 5,003 shares of the financial services provider’s stock worth $289,000 after purchasing an additional 1,011 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new position in shares of Commerce Bancshares during the 4th quarter worth approximately $312,000. 62.75% of the stock is currently owned by institutional investors.
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Commerce Bancshares Company Profile
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.
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