Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP David L. Roller Sells 890 Shares

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP David L. Roller sold 890 shares of Commerce Bancshares stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $72.27, for a total transaction of $64,320.30. Following the completion of the transaction, the senior vice president now owns 30,949 shares of the company’s stock, valued at $2,236,684.23. The trade was a 2.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Commerce Bancshares Stock Performance

Shares of Commerce Bancshares stock traded down $0.63 during trading on Wednesday, hitting $70.97. The company’s stock had a trading volume of 439,391 shares, compared to its average volume of 532,869. Commerce Bancshares, Inc. has a 52 week low of $46.72 and a 52 week high of $73.31. The company has a fifty day simple moving average of $62.86 and a two-hundred day simple moving average of $60.02. The company has a market capitalization of $9.10 billion, a PE ratio of 18.57, a P/E/G ratio of 3.89 and a beta of 0.73.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.07. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. The company had revenue of $421.38 million during the quarter, compared to the consensus estimate of $412.85 million. As a group, analysts predict that Commerce Bancshares, Inc. will post 4.02 EPS for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be issued a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.52%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 28.13%.

Institutional Investors Weigh In On Commerce Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. raised its stake in shares of Commerce Bancshares by 0.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 30,906 shares of the financial services provider’s stock valued at $1,724,000 after acquiring an additional 154 shares during the period. Sound Stewardship LLC raised its position in Commerce Bancshares by 3.9% in the 3rd quarter. Sound Stewardship LLC now owns 4,339 shares of the financial services provider’s stock worth $258,000 after purchasing an additional 163 shares during the period. Allworth Financial LP lifted its stake in Commerce Bancshares by 51.1% in the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 192 shares during the last quarter. Outlook Wealth Advisors LLC boosted its position in shares of Commerce Bancshares by 3.6% during the third quarter. Outlook Wealth Advisors LLC now owns 6,303 shares of the financial services provider’s stock valued at $374,000 after buying an additional 217 shares during the period. Finally, Marshall Financial Group LLC grew its stake in shares of Commerce Bancshares by 1.2% during the third quarter. Marshall Financial Group LLC now owns 18,257 shares of the financial services provider’s stock valued at $1,084,000 after buying an additional 223 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Piper Sandler set a $68.50 price objective on Commerce Bancshares and gave the company a “neutral” rating in a research note on Friday, October 18th. Morgan Stanley cut Commerce Bancshares from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $66.00 to $64.00 in a report on Monday, September 30th. Finally, StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $61.79.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc operates as the bank holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses in the United States. It operates through three segments: Consumer, Commercial, and Wealth.