Commerce Bancshares (NASDAQ:CBSH) Vice Chairman Jonathan M. Kemper sold 33,424 shares of the firm’s stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $61.04, for a total value of $2,040,200.96. Following the transaction, the insider now directly owns 1,059,102 shares of the company’s stock, valued at approximately $64,647,586.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of NASDAQ CBSH opened at $58.95 on Friday. The stock has a market cap of $6,451.98, a PE ratio of 21.28, a P/E/G ratio of 2.26 and a beta of 0.69. Commerce Bancshares has a 52 week low of $51.90 and a 52 week 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%. analysts expect that Commerce Bancshares will post 3.37 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 26th. Shareholders of record on Friday, March 9th were issued a $0.235 dividend. The ex-dividend date was Thursday, March 8th. This represents a $0.94 dividend on an annualized basis and a yield of 1.59%. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.23. Commerce Bancshares’s dividend payout ratio (DPR) is 33.94%.
Several brokerages have recently commented on CBSH. Keefe, Bruyette & Woods raised Commerce Bancshares from an “underperform” rating to a “market perform” rating and upped their target price for the company from $54.00 to $60.00 in a report on Tuesday, February 27th. BidaskClub raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. Zacks Investment Research raised Commerce Bancshares from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research note on Monday, January 8th. Barclays increased 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 downgraded 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 assigned a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $57.88.
A number of institutional investors and hedge funds have recently added to or reduced their stakes 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 acquired a new stake in shares of Commerce Bancshares during the 4th quarter worth approximately $312,000. 62.75% of the stock is currently owned by hedge funds and other 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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