Commerce Bancshares, Inc. (NASDAQ:CBSH) CEO John W. Kemper Sells 26,042 Shares

Commerce Bancshares, Inc. (NASDAQ:CBSH) CEO John W. Kemper sold 26,042 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $67.28, for a total transaction of $1,752,105.76. Following the completion of the sale, the chief executive officer now directly owns 211,929 shares in the company, valued at approximately $14,258,583.12. This represents a 10.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Commerce Bancshares Trading Up 1.3 %

Shares of NASDAQ:CBSH traded up $0.91 on Wednesday, hitting $68.36. The company had a trading volume of 431,923 shares, compared to its average volume of 545,401. The stock has a market cap of $8.77 billion, a price-to-earnings ratio of 17.05, a P/E/G ratio of 2.21 and a beta of 0.80. Commerce Bancshares, Inc. has a 1-year low of $47.09 and a 1-year high of $72.75. The stock has a 50 day moving average price of $65.71 and a 200 day moving average price of $64.10.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The firm had revenue of $422.10 million for the quarter, compared to analyst estimates of $417.48 million. During the same period in the prior year, the firm posted $0.84 EPS. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. Sell-side analysts anticipate that Commerce Bancshares, Inc. will post 3.9 earnings per share for the current fiscal year.

Commerce Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.10 dividend on an annualized basis and a yield of 1.61%. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s payout ratio is currently 26.93%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Piper Sandler increased their price objective on shares of Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods boosted their price target on 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 downgraded Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Wells Fargo & Company upped their price target on shares of Commerce Bancshares from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Finally, StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, January 13th. Seven analysts have rated the stock with a hold rating, According to MarketBeat, Commerce Bancshares has an average rating of “Hold” and a consensus target price of $67.83.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CBSH. Virtu Financial LLC bought a new position in Commerce Bancshares in the 3rd quarter valued at approximately $566,000. Procyon Advisors LLC acquired a new position in shares of Commerce Bancshares in the fourth quarter valued at approximately $200,000. Centiva Capital LP acquired a new stake in Commerce Bancshares during the 3rd quarter worth approximately $581,000. PFW Advisors LLC bought a new stake in Commerce Bancshares during the 4th quarter worth approximately $1,336,000. Finally, Barclays PLC grew its stake in shares of Commerce Bancshares by 19.4% in the third quarter. Barclays PLC now owns 106,934 shares of the financial services provider’s stock worth $6,353,000 after purchasing an additional 17,400 shares during the last quarter. 70.26% of the stock is owned by 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.