Commerce Bancshares, Inc. (NASDAQ:CBSH) VP David L. Orf Sells 2,102 Shares

Commerce Bancshares, Inc. (NASDAQ:CBSH) VP David L. Orf sold 2,102 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $64.83, for a total value of $136,272.66. Following the completion of the sale, the vice president now owns 19,140 shares in the company, valued at approximately $1,240,846.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Commerce Bancshares Price Performance

NASDAQ:CBSH traded down $1.89 during mid-day trading on Thursday, reaching $62.82. The stock had a trading volume of 620,861 shares, compared to its average volume of 511,635. Commerce Bancshares, Inc. has a 12 month low of $40.91 and a 12 month high of $65.86. The stock has a market capitalization of $8.14 billion, a PE ratio of 18.05, a P/E/G ratio of 10.87 and a beta of 0.76. The stock has a 50-day simple moving average of $57.03 and a two-hundred day simple moving average of $54.53.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Thursday, July 18th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.17. The firm had revenue of $414.90 million for the quarter, compared to analysts’ expectations of $406.88 million. Commerce Bancshares had a return on equity of 16.50% and a net margin of 23.62%. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.97 earnings per share. Equities analysts expect that Commerce Bancshares, Inc. will post 3.9 EPS for the current year.

Commerce Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.08 annualized dividend and a dividend yield of 1.72%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 30.12%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CBSH shares. Jefferies Financial Group increased their price objective on shares of Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, April 17th. Raymond James upgraded Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 price objective for the company in a report on Wednesday, April 17th. Morgan Stanley upped their target price on Commerce Bancshares from $55.00 to $58.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. Finally, Keefe, Bruyette & Woods boosted their price target on Commerce Bancshares from $58.00 to $60.00 and gave the company a “market perform” rating in a research note on Friday, May 10th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $58.86.

Institutional Investors Weigh In On Commerce Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of CBSH. Clarity Asset Management Inc. bought a new stake in shares of Commerce Bancshares during the fourth quarter worth about $43,000. Bessemer Group Inc. lifted its position in shares of Commerce Bancshares by 86.3% in the 1st quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 390 shares during the period. GAMMA Investing LLC grew its holdings in Commerce Bancshares by 156.5% during the 2nd quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 521 shares during the period. Eagle Bay Advisors LLC increased its holdings in Commerce Bancshares by 2,864.7% in the second quarter. Eagle Bay Advisors LLC now owns 1,008 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 974 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Commerce Bancshares by 93.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,670 shares of the financial services provider’s stock valued at $89,000 after acquiring an additional 805 shares during the period. Institutional investors own 70.26% of the company’s stock.

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.