Insider Selling: Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Sells 1,719 Shares of Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) SVP Patricia R. Kellerhals sold 1,719 shares of the business's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $67.30, for a total transaction of $115,688.70. Following the completion of the sale, the senior vice president now owns 18,688 shares of the company's stock, valued at approximately $1,257,702.40. This represents a 8.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Commerce Bancshares Stock Performance

NASDAQ CBSH traded up $0.91 during mid-day trading on Wednesday, reaching $68.36. 431,923 shares of the stock were exchanged, compared to its average volume of 545,401. The business's 50 day moving average is $65.71 and its 200-day moving average is $64.10. Commerce Bancshares, Inc. has a 1 year low of $47.09 and a 1 year high of $72.75. The company has a market capitalization of $8.77 billion, a P/E ratio of 17.05, a P/E/G ratio of 2.21 and a beta of 0.80.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.06. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The firm had revenue of $422.10 million for the quarter, compared to the consensus estimate of $417.48 million. During the same period in the prior year, the firm posted $0.84 earnings per share. The firm's quarterly revenue was up 7.3% compared to the same quarter last year. Equities analysts predict that Commerce Bancshares, Inc. will post 3.9 earnings per share for the current fiscal year.

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 given a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Commerce Bancshares's previous quarterly dividend of $0.27. This represents a $1.10 dividend on an annualized basis and a yield of 1.61%. Commerce Bancshares's dividend payout ratio is currently 26.93%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Commerce Bancshares

A number of large investors have recently added to or reduced their stakes in CBSH. Cetera Investment Advisers raised its position in Commerce Bancshares by 77.1% during the second quarter. Cetera Investment Advisers now owns 56,441 shares of the financial services provider's stock worth $3,148,000 after acquiring an additional 24,569 shares during the period. Sanctuary Advisors LLC acquired a new position in Commerce Bancshares during the second quarter worth $1,755,000. Handelsbanken Fonder AB raised its position in Commerce Bancshares by 9.6% during the third quarter. Handelsbanken Fonder AB now owns 29,628 shares of the financial services provider's stock worth $1,760,000 after acquiring an additional 2,600 shares during the period. Fulton Bank N.A. raised its position in Commerce Bancshares by 5.8% during the third quarter. Fulton Bank N.A. now owns 6,534 shares of the financial services provider's stock worth $388,000 after acquiring an additional 359 shares during the period. Finally, CWM LLC raised its position in Commerce Bancshares by 0.8% during the third quarter. CWM LLC now owns 131,524 shares of the financial services provider's stock worth $7,813,000 after acquiring an additional 1,004 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

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.

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