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

Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) CEO John W. Kemper sold 26,042 shares of the firm'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 owns 211,929 shares in the company, valued at $14,258,583.12. This represents a 10.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Commerce Bancshares Price Performance

Shares of NASDAQ:CBSH traded up $0.91 during midday trading on Wednesday, reaching $68.36. The company's stock had a trading volume of 431,923 shares, compared to its average volume of 545,401. The business's fifty day simple moving average is $65.71 and its 200-day simple moving average is $64.10. 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, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its 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 company 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 business earned $0.84 earnings per share. Commerce Bancshares's quarterly revenue was up 7.3% on a year-over-year basis. On average, analysts forecast that Commerce Bancshares, Inc. will post 3.9 earnings per share for the current fiscal year.

Commerce Bancshares Increases Dividend

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC bought a new stake in shares of Commerce Bancshares during the third quarter worth approximately $26,000. Allworth Financial LP raised its position in shares of Commerce Bancshares by 51.1% during the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 192 shares during the last quarter. Marshall Investment Management LLC bought a new stake in shares of Commerce Bancshares during the 4th quarter valued at $35,000. Capital Performance Advisors LLP acquired a new position in shares of Commerce Bancshares in the 3rd quarter valued at $39,000. Finally, True Wealth Design LLC bought a new position in shares of Commerce Bancshares in the 3rd quarter worth $47,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.

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