Insider Selling: Commerce Bancshares, Inc. (NASDAQ:CBSH) CFO Sells 13,493 Shares of Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) CFO Charles G. Kim sold 13,493 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $67.76, for a total value of $914,285.68. Following the sale, 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 legal filing with the SEC, which is accessible through this link.

Commerce Bancshares Price Performance

Shares of NASDAQ:CBSH traded up $0.11 during trading on Tuesday, reaching $66.84. 176,821 shares of the stock were exchanged, compared to its average volume of 525,230. Commerce Bancshares, Inc. has a 1-year low of $47.09 and a 1-year high of $72.75. The stock has a fifty day moving average of $65.24 and a two-hundred day moving average of $64.21. The firm has a market cap of $8.57 billion, a price-to-earnings ratio of 16.67, a price-to-earnings-growth ratio of 2.27 and a beta of 0.80.

Commerce Bancshares (NASDAQ:CBSH) last issued 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 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 firm earned $0.84 earnings per share. Commerce Bancshares’s revenue for the quarter was up 7.3% on a year-over-year basis. Sell-side analysts forecast that Commerce Bancshares, Inc. will post 3.9 EPS for the current year.

Commerce Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.10 annualized dividend and a yield of 1.65%. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s dividend payout ratio is 26.93%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CBSH shares. 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. 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. Raymond James lowered Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Piper Sandler boosted their price target on Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Commerce Bancshares presently has a consensus rating of “Hold” and an average price target of $67.83.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Commerce Bancshares by 9.5% during the 3rd 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 in the last quarter. Wedge Capital Management L L P NC raised its holdings in shares of Commerce Bancshares by 2.1% in the 3rd quarter. Wedge Capital Management L L P NC now owns 31,425 shares of the financial services provider’s stock valued at $1,867,000 after acquiring an additional 659 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Commerce Bancshares in the 3rd quarter valued at about $255,000. Marshall Financial Group LLC increased its position in shares of Commerce Bancshares by 1.2% during the 3rd quarter. Marshall Financial Group LLC now owns 18,257 shares of the financial services provider’s stock valued at $1,084,000 after purchasing an additional 223 shares during the last quarter. Finally, V Square Quantitative Management LLC bought a new position in shares of Commerce Bancshares during the 3rd quarter valued at about $26,000. Institutional investors 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.