Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Sells $67,690.00 in Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Patricia R. Kellerhals sold 1,000 shares of Commerce Bancshares stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $67.69, for a total transaction of $67,690.00. Following the sale, the senior vice president now owns 21,265 shares of the company’s stock, valued at approximately $1,439,427.85. The trade was a 4.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Commerce Bancshares Stock Up 0.2 %

Shares of CBSH stock opened at $63.03 on Friday. The stock has a market cap of $8.08 billion, a P/E ratio of 16.41, a PEG ratio of 2.92 and a beta of 0.77. The company’s fifty day simple moving average is $67.18 and its two-hundred day simple moving average is $62.07. Commerce Bancshares, Inc. has a 52 week low of $47.09 and a 52 week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. The firm had revenue of $421.38 million for the quarter, compared to the consensus estimate of $412.85 million. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. On average, analysts anticipate that Commerce Bancshares, Inc. will post 3.95 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd were issued a $0.27 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $1.08 annualized dividend and a dividend yield of 1.71%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 28.13%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Raymond James downgraded shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday. Wells Fargo & Company upped their price objective on Commerce Bancshares from $62.00 to $67.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods upped their target price on Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, Morgan Stanley cut shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $66.00 to $64.00 in a research report on Monday, September 30th. Eight research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $65.07.

Hedge Funds Weigh In On Commerce Bancshares

Large investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC lifted its holdings in shares of Commerce Bancshares by 7,407.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 362,900 shares of the financial services provider’s stock worth $21,556,000 after buying an additional 358,066 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Commerce Bancshares by 19.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,069,924 shares of the financial services provider’s stock valued at $115,453,000 after buying an additional 342,793 shares during the period. American Century Companies Inc. boosted its holdings in Commerce Bancshares by 7.4% during the second quarter. American Century Companies Inc. now owns 3,509,796 shares of the financial services provider’s stock worth $195,776,000 after buying an additional 240,938 shares in the last quarter. Millennium Management LLC grew its holdings in Commerce Bancshares by 168.3% in the second quarter. Millennium Management LLC now owns 342,084 shares of the financial services provider’s stock valued at $19,081,000 after purchasing an additional 214,582 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Commerce Bancshares by 7.3% during the third quarter. Geode Capital Management LLC now owns 2,396,740 shares of the financial services provider’s stock worth $142,951,000 after purchasing an additional 163,782 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

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.