Charles G. Kim Sells 13,493 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) CFO Charles G. Kim sold 13,493 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $67.76, for a total value of $914,285.68. Following the completion of the transaction, the chief financial officer now directly owns 86,246 shares of the company’s stock, valued at approximately $5,844,028.96. This trade represents a 13.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Commerce Bancshares Price Performance

Shares of Commerce Bancshares stock opened at $66.19 on Thursday. The stock has a market capitalization of $8.49 billion, a P/E ratio of 16.51, a PEG ratio of 2.27 and a beta of 0.80. The business has a 50 day simple moving average of $65.15 and a two-hundred day simple moving average of $64.24. Commerce Bancshares, Inc. has a 12 month low of $47.09 and a 12 month high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $417.48 million. During the same period in the prior year, the company earned $0.84 EPS. The firm’s revenue was up 7.3% compared to the same quarter last year. As a group, research analysts anticipate that Commerce Bancshares, Inc. will post 3.9 EPS for the current fiscal year.

Commerce Bancshares Increases Dividend

The firm 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 is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. This represents a $1.10 dividend on an annualized basis and a yield of 1.66%. Commerce Bancshares’s payout ratio is presently 27.43%.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. V Square Quantitative Management LLC purchased a new stake in shares of Commerce Bancshares in the third quarter valued at approximately $26,000. CoreFirst Bank & Trust acquired a new position in Commerce Bancshares during the fourth quarter worth $33,000. Allworth Financial LP grew its holdings in Commerce Bancshares by 51.1% in the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after buying an additional 192 shares in the last quarter. Marshall Investment Management LLC acquired a new stake in shares of Commerce Bancshares in the 4th quarter worth $35,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Commerce Bancshares during the 3rd quarter worth $39,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

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.