Commerce Bancshares (NASDAQ:CBSH) CFO Charles G. Kim sold 2,135 shares of the firm’s stock in a transaction on Wednesday, April 18th. The shares were sold at an average price of $62.96, for a total value of $134,419.60. Following the transaction, the chief financial officer now owns 69,740 shares in the company, valued at approximately $4,390,830.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
CBSH opened at $63.89 on Friday. Commerce Bancshares has a 1 year low of $51.90 and a 1 year high of $64.21. The stock has a market capitalization of $6,811.82, a price-to-earnings ratio of 20.94, a P/E/G ratio of 2.23 and a beta of 0.69.
Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, January 18th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.03. Commerce Bancshares had a return on equity of 13.21% and a net margin of 27.16%. The company had revenue of $314.22 million for the quarter, compared to analyst estimates of $312.98 million. equities research analysts expect that Commerce Bancshares will post 3.61 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 25th. Shareholders of record on Friday, June 8th will be paid a $0.235 dividend. The ex-dividend date is Thursday, June 7th. This represents a $0.94 annualized dividend and a yield of 1.47%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 33.94%.
A number of institutional investors and hedge funds have recently bought and sold shares of CBSH. Dimensional Fund Advisors LP grew its stake in Commerce Bancshares by 0.7% in the third quarter. Dimensional Fund Advisors LP now owns 930,383 shares of the financial services provider’s stock valued at $53,747,000 after purchasing an additional 6,268 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Commerce Bancshares during the third quarter worth about $1,106,000. GSA Capital Partners LLP purchased a new stake in shares of Commerce Bancshares during the third quarter worth about $283,000. Confluence Investment Management LLC grew its stake in shares of Commerce Bancshares by 6.3% during the fourth quarter. Confluence Investment Management LLC now owns 300,985 shares of the financial services provider’s stock worth $16,807,000 after acquiring an additional 17,710 shares during the last quarter. Finally, DnB Asset Management AS grew its stake in shares of Commerce Bancshares by 5.0% during the fourth quarter. DnB Asset Management AS now owns 65,047 shares of the financial services provider’s stock worth $3,632,000 after acquiring an additional 3,097 shares during the last quarter. Institutional investors own 62.76% of the company’s stock.
CBSH has been the topic of several research reports. Zacks Investment Research upgraded Commerce Bancshares from a “hold” rating to a “buy” rating and set a $63.00 price target 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, March 15th. ValuEngine upgraded Commerce Bancshares from a “hold” rating to a “buy” rating in a research note on Friday, March 23rd. Barclays raised their price target on Commerce Bancshares from $55.00 to $59.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Finally, Piper Jaffray restated a “hold” rating and set a $58.00 price target on shares of Commerce Bancshares in a research note on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. Commerce Bancshares has an average rating of “Hold” and a consensus price target of $60.33.
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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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