Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Douglas D. Neff sold 807 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $60.66, for a total transaction of $48,952.62. Following the transaction, the senior vice president now owns 3,917 shares of the company’s stock, valued at approximately $237,605.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of CBSH traded up $0.29 during midday trading on Friday, hitting $61.17. The stock had a trading volume of 2,419 shares, compared to its average volume of 436,425. Commerce Bancshares, Inc. has a 1 year low of $53.40 and a 1 year high of $72.55. The company has a market cap of $6.71 billion, a P/E ratio of 16.13, a P/E/G ratio of 3.65 and a beta of 0.75.
Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, January 17th. The financial services provider reported $0.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.01. Commerce Bancshares had a net margin of 31.18% and a return on equity of 16.29%. The business had revenue of $345.31 million for the quarter, compared to the consensus estimate of $335.66 million. During the same quarter in the prior year, the firm posted $0.74 earnings per share. As a group, sell-side analysts forecast that Commerce Bancshares, Inc. will post 3.81 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 25th. Stockholders of record on Friday, March 8th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $1.04 annualized dividend and a dividend yield of 1.70%. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.24. Commerce Bancshares’s dividend payout ratio is currently 27.51%.
Several equities analysts have commented on the stock. BidaskClub lowered shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Friday. Raymond James upgraded shares of Commerce Bancshares from an “underperform” rating to a “market perform” rating and set a $60.43 price objective for the company in a research report on Friday, January 18th. They noted that the move was a valuation call. Barclays reiterated a “hold” rating and set a $65.00 price objective on shares of Commerce Bancshares in a research report on Friday, January 11th. Stephens reiterated a “hold” rating and set a $65.00 price objective on shares of Commerce Bancshares in a research report on Wednesday, December 19th. Finally, Morgan Stanley lowered their price objective on shares of Commerce Bancshares from $58.00 to $56.00 and set an “underweight” rating for the company in a research report on Tuesday, December 11th. Three equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Commerce Bancshares presently has a consensus rating of “Hold” and a consensus price target of $63.93.
Institutional investors and hedge funds have recently made changes to their positions in the company. Pearl River Capital LLC purchased a new position in Commerce Bancshares in the 4th quarter worth about $28,000. O Shaughnessy Asset Management LLC purchased a new position in Commerce Bancshares in the 4th quarter worth about $48,000. Toronto Dominion Bank purchased a new position in Commerce Bancshares in the 4th quarter worth about $72,000. Enlightenment Research LLC purchased a new position in Commerce Bancshares in the 4th quarter worth about $73,000. Finally, Essex Savings Bank purchased a new position in Commerce Bancshares in the 4th quarter worth about $87,000. 63.34% of the stock is currently owned by institutional investors and hedge funds.
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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.
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