Patricia R. Kellerhals Sells 1,000 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Patricia R. Kellerhals sold 1,000 shares of the business’s stock in a transaction 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 $1,439,427.85. This trade represents a 4.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

Commerce Bancshares Stock Down 4.3 %

Shares of NASDAQ:CBSH traded down $2.84 during midday trading on Wednesday, hitting $63.87. 665,096 shares of the stock traded hands, compared to its average volume of 553,969. The stock has a market capitalization of $8.19 billion, a PE ratio of 16.63, a P/E/G ratio of 2.92 and a beta of 0.77. Commerce Bancshares, Inc. has a one year low of $47.09 and a one year high of $72.75. The business’s 50 day moving average is $67.09 and its two-hundred day moving average 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 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 return on equity of 15.93% and a net margin of 24.15%. As a group, sell-side analysts forecast that Commerce Bancshares, Inc. will post 3.95 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders 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 dividend on an annualized basis and a yield of 1.69%. Commerce Bancshares’s dividend payout ratio (DPR) is 28.13%.

Institutional Trading of Commerce Bancshares

Hedge funds have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC purchased a new position in Commerce Bancshares during the 2nd quarter valued at about $436,000. Raymond James & Associates lifted its holdings in shares of Commerce Bancshares by 7.9% during the second quarter. Raymond James & Associates now owns 135,534 shares of the financial services provider’s stock valued at $7,560,000 after purchasing an additional 9,881 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new stake in shares of Commerce Bancshares in the 2nd quarter worth approximately $197,000. &PARTNERS purchased a new stake in shares of Commerce Bancshares in the 2nd quarter worth approximately $396,000. Finally, Cambridge Investment Research Advisors Inc. grew its stake in shares of Commerce Bancshares by 0.5% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 30,906 shares of the financial services provider’s stock worth $1,724,000 after buying an additional 154 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.