Kevin G. Barth Sells 1,582 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) EVP Kevin G. Barth sold 1,582 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $67.54, for a total transaction of $106,848.28. Following the transaction, the executive vice president now directly owns 65,409 shares of the company’s stock, valued at $4,417,723.86. The trade was a 2.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Commerce Bancshares Stock Up 0.2 %

Shares of NASDAQ:CBSH opened at $63.03 on Friday. Commerce Bancshares, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $72.75. The stock has a market cap of $8.08 billion, a price-to-earnings ratio of 16.41, a price-to-earnings-growth ratio of 2.92 and a beta of 0.77. The firm’s 50 day moving average price is $67.18 and its 200 day moving average price is $62.07.

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

Commerce Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.08 annualized dividend and a dividend yield of 1.71%. Commerce Bancshares’s dividend payout ratio is currently 28.13%.

Institutional Investors Weigh In On Commerce Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC acquired a new position in Commerce Bancshares in the second quarter valued at approximately $436,000. Raymond James & Associates boosted its holdings in shares of Commerce Bancshares by 7.9% in the 2nd quarter. Raymond James & Associates now owns 135,534 shares of the financial services provider’s stock valued at $7,560,000 after buying an additional 9,881 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in shares of Commerce Bancshares in the 2nd quarter valued at $197,000. &PARTNERS acquired a new stake in Commerce Bancshares during the 2nd quarter worth $396,000. Finally, Cambridge Investment Research Advisors Inc. lifted its position in 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 last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

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

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.