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

Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) CFO Charles G. Kim sold 13,493 shares of the firm'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 transaction, the chief financial officer now owns 86,246 shares in the company, valued at approximately $5,844,028.96. This trade represents a 13.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Commerce Bancshares Trading Down 1.1 %

CBSH stock traded down $0.70 during trading on Friday, reaching $65.74. 439,296 shares of the stock were exchanged, compared to its average volume of 530,134. Commerce Bancshares, Inc. has a twelve month low of $47.89 and a twelve month high of $72.75. The company has a market capitalization of $8.43 billion, a P/E ratio of 16.39, a price-to-earnings-growth ratio of 2.27 and a beta of 0.80. The stock has a 50 day simple moving average of $65.05 and a 200-day simple moving average of $64.26.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, topping 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 business had revenue of $422.10 million for the quarter, compared to the consensus estimate of $417.48 million. During the same period last year, the business earned $0.84 earnings per share. The firm's revenue for the quarter was up 7.3% compared to the same quarter last year. Equities analysts predict that Commerce Bancshares, Inc. will post 3.9 EPS for the current year.

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Commerce Bancshares Increases Dividend

The business 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 dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.67%. This is an increase from Commerce Bancshares's previous quarterly dividend of $0.27. The ex-dividend date is Friday, March 7th. Commerce Bancshares's payout ratio is presently 26.93%.

Institutional Investors Weigh In On Commerce Bancshares

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Commerce Bancshares by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 13,225,491 shares of the financial services provider's stock valued at $824,080,000 after acquiring an additional 642,401 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Commerce Bancshares by 25.5% in the fourth quarter. American Century Companies Inc. now owns 3,675,031 shares of the financial services provider's stock valued at $228,991,000 after acquiring an additional 745,661 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Commerce Bancshares by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 2,484,463 shares of the financial services provider's stock valued at $155,756,000 after acquiring an additional 87,723 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Commerce Bancshares by 11.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,272,118 shares of the financial services provider's stock valued at $141,584,000 after acquiring an additional 227,052 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Commerce Bancshares by 1.8% in the fourth quarter. Wells Fargo & Company MN now owns 2,175,133 shares of the financial services provider's stock valued at $135,533,000 after acquiring an additional 38,210 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CBSH has been the topic of several recent research reports. Piper Sandler raised their target price on Commerce Bancshares from $69.00 to $72.00 and gave the company a "neutral" rating in a report on Thursday, January 23rd. StockNews.com upgraded Commerce Bancshares from a "sell" rating to a "hold" rating in a research note on Monday, January 13th. Raymond James lowered Commerce Bancshares from an "outperform" rating to a "market perform" rating in a research note on Thursday, December 19th. Wells Fargo & Company lifted their price objective 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, Keefe, Bruyette & Woods lifted their price objective on Commerce Bancshares from $66.00 to $78.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Seven analysts have rated the stock with a hold rating, According to MarketBeat, Commerce Bancshares has an average rating of "Hold" and an average 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.