Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Sells $124,460.00 in Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Patricia R. Kellerhals sold 2,000 shares of Commerce Bancshares stock in a transaction on Monday, September 16th. The stock was sold at an average price of $62.23, for a total transaction of $124,460.00. Following the completion of the transaction, the senior vice president now owns 23,381 shares in the company, valued at approximately $1,454,999.63. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Commerce Bancshares Trading Up 2.1 %

Shares of NASDAQ:CBSH opened at $63.73 on Friday. The firm has a market capitalization of $8.26 billion, a PE ratio of 17.75, a PEG ratio of 10.29 and a beta of 0.75. Commerce Bancshares, Inc. has a 1-year low of $40.91 and a 1-year high of $65.86. The business’s 50 day moving average is $62.09 and its 200-day moving average is $56.88.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.17. Commerce Bancshares had a net margin of 23.62% and a return on equity of 16.50%. The firm had revenue of $414.90 million for the quarter, compared to the consensus estimate of $406.88 million. During the same quarter in the previous year, the company earned $0.97 earnings per share. The business’s revenue was up 4.5% compared to the same quarter last year. On average, sell-side analysts predict that Commerce Bancshares, Inc. will post 3.96 EPS for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Thursday, September 5th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.08 dividend on an annualized basis and a yield of 1.69%. Commerce Bancshares’s payout ratio is currently 30.08%.

Analyst Ratings Changes

A number of research firms have recently commented on CBSH. Morgan Stanley lifted their price objective on Commerce Bancshares from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Jefferies Financial Group lifted their price target on Commerce Bancshares from $60.00 to $62.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Finally, Wells Fargo & Company increased their price objective on Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $60.00.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC acquired a new stake in Commerce Bancshares during the second quarter valued at approximately $1,755,000. Cetera Investment Advisers boosted its stake in Commerce Bancshares by 77.1% in the 2nd quarter. Cetera Investment Advisers now owns 56,441 shares of the financial services provider’s stock valued at $3,148,000 after buying an additional 24,569 shares in the last quarter. Algert Global LLC acquired a new stake in Commerce Bancshares in the 2nd quarter valued at $693,000. Millennium Management LLC grew its position in Commerce Bancshares by 168.3% in the second quarter. Millennium Management LLC now owns 342,084 shares of the financial services provider’s stock valued at $19,081,000 after acquiring an additional 214,582 shares during the period. Finally, Dark Forest Capital Management LP acquired a new position in Commerce Bancshares during the second quarter worth $522,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

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.