Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Patricia R. Kellerhals Sells 500 Shares

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Patricia R. Kellerhals sold 500 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $68.55, for a total value of $34,275.00. Following the transaction, the senior vice president now owns 22,265 shares in the company, valued at $1,526,265.75. This represents a 2.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Commerce Bancshares Stock Performance

CBSH stock opened at $67.66 on Friday. The stock has a market capitalization of $8.68 billion, a PE ratio of 17.62, a price-to-earnings-growth ratio of 2.95 and a beta of 0.77. The company has a fifty day moving average of $66.42 and a 200-day moving average of $61.70. Commerce Bancshares, Inc. has a one year low of $47.09 and a one year high of $72.75.

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

Commerce Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd will be paid a $0.27 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.60%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 28.13%.

Analysts Set New Price Targets

CBSH has been the topic of a number of research reports. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Wells Fargo & Company increased their price target on shares of Commerce Bancshares from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. Piper Sandler set a $68.50 price objective on shares of Commerce Bancshares and gave the company a “neutral” rating in a research note on Friday, October 18th. Morgan Stanley downgraded shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $66.00 to $64.00 in a research note on Monday, September 30th. Finally, Keefe, Bruyette & Woods boosted their price target on Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $65.07.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. American Century Companies Inc. grew its stake in shares of Commerce Bancshares by 7.4% during the 2nd quarter. American Century Companies Inc. now owns 3,509,796 shares of the financial services provider’s stock worth $195,776,000 after purchasing an additional 240,938 shares during the period. Geode Capital Management LLC boosted its holdings in 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 buying an additional 163,782 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Commerce Bancshares by 19.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,069,924 shares of the financial services provider’s stock worth $115,453,000 after buying an additional 342,793 shares during the period. Boston Trust Walden Corp increased its holdings in Commerce Bancshares by 15.4% in the second quarter. Boston Trust Walden Corp now owns 1,260,999 shares of the financial services provider’s stock valued at $70,339,000 after buying an additional 168,550 shares in the last quarter. Finally, NFJ Investment Group LLC lifted its position in shares of Commerce Bancshares by 17.7% during the 3rd quarter. NFJ Investment Group LLC now owns 707,168 shares of the financial services provider’s stock valued at $42,006,000 after acquiring an additional 106,316 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

About Commerce Bancshares

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.