Patricia R. Kellerhals Sells 1,719 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Patricia R. Kellerhals sold 1,719 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $67.30, for a total value of $115,688.70. Following the transaction, the senior vice president now directly owns 18,688 shares in the company, valued at $1,257,702.40. The trade was a 8.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Commerce Bancshares Stock Up 0.3 %

Commerce Bancshares stock opened at $68.59 on Friday. Commerce Bancshares, Inc. has a 52 week low of $47.09 and a 52 week high of $72.75. The company’s 50 day moving average price is $65.49 and its two-hundred day moving average price is $64.16. The stock has a market cap of $8.80 billion, a P/E ratio of 17.10, a P/E/G ratio of 2.21 and a beta of 0.80.

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

Commerce Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be given a dividend of $0.275 per share. The ex-dividend date is Friday, March 7th. This represents a $1.10 annualized dividend and a yield of 1.60%. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s dividend payout ratio is presently 26.93%.

Institutional Trading of Commerce Bancshares

Large investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new position in shares of Commerce Bancshares during the 3rd quarter valued at approximately $26,000. Allworth Financial LP lifted its stake in Commerce Bancshares by 51.1% in the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 192 shares during the last quarter. Marshall Investment Management LLC bought a new position in Commerce Bancshares during the fourth quarter valued at $35,000. Capital Performance Advisors LLP purchased a new stake in Commerce Bancshares in the third quarter worth $39,000. Finally, True Wealth Design LLC bought a new stake in shares of Commerce Bancshares in the third quarter valued at $47,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Commerce Bancshares from $67.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Raymond James lowered shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Piper Sandler lifted their price target on Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Keefe, Bruyette & Woods raised their target price on Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Seven investment analysts have rated the stock with a hold rating, According to MarketBeat, Commerce Bancshares presently has an average rating of “Hold” and a consensus target price of $67.83.

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.