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

Commerce Bancshares, Inc. (NASDAQ:CBSH) CFO Charles G. Kim sold 13,493 shares of the company’s stock in a transaction that occurred on 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 owns 86,246 shares in the company, valued at $5,844,028.96. This represents a 13.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Commerce Bancshares Stock Performance

Shares of Commerce Bancshares stock opened at $66.19 on Thursday. The business has a 50-day simple moving average of $65.15 and a 200-day simple moving average of $64.24. Commerce Bancshares, Inc. has a one year low of $47.09 and a one year high of $72.75. The company has a market cap of $8.49 billion, a PE ratio of 16.51, a P/E/G ratio of 2.27 and a beta of 0.80.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. The company had revenue of $422.10 million for the quarter, compared to the consensus estimate of $417.48 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 EPS. On average, sell-side analysts predict that Commerce Bancshares, Inc. will post 3.9 earnings per share 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. Shareholders of record on Friday, March 7th will be paid a $0.275 dividend. The ex-dividend date 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 1.66%. Commerce Bancshares’s dividend payout ratio (DPR) is currently 27.43%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CBSH. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Commerce Bancshares by 9.5% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 19,048 shares of the financial services provider’s stock worth $1,131,000 after purchasing an additional 1,659 shares during the last quarter. Wedge Capital Management L L P NC lifted its position in shares of Commerce Bancshares by 2.1% during the 3rd quarter. Wedge Capital Management L L P NC now owns 31,425 shares of the financial services provider’s stock worth $1,867,000 after buying an additional 659 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Commerce Bancshares in the 3rd quarter valued at $255,000. Marshall Financial Group LLC lifted its position in Commerce Bancshares by 1.2% in the third quarter. Marshall Financial Group LLC now owns 18,257 shares of the financial services provider’s stock valued at $1,084,000 after acquiring an additional 223 shares during the last quarter. Finally, V Square Quantitative Management LLC acquired a new position in Commerce Bancshares in the third quarter valued at $26,000. 70.26% of the stock is 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.