Commerce Bancshares Inc. (NASDAQ:CBSH) insider Charles G. Kim sold 7,804 shares of the stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $57.76, for a total transaction of $450,759.04. Following the transaction, the insider now owns 111,431 shares in the company, valued at $6,436,254.56. The sale was disclosed in a filing with the SEC, which is available through this link.
Shares of Commerce Bancshares Inc. (NASDAQ:CBSH) opened at 57.98 on Friday. The firm has a market capitalization of $5.60 billion, a PE ratio of 21.81 and a beta of 0.66. Commerce Bancshares Inc. has a 1-year low of $37.44 and a 1-year high of $58.21. The company has a 50-day moving average of $51.66 and a 200-day moving average of $49.15.
Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Friday, October 14th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by $0.02. The company earned $290.60 million during the quarter. Commerce Bancshares had a net margin of 23.01% and a return on equity of 11.52%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.63 EPS. Equities research analysts predict that Commerce Bancshares Inc. will post $2.74 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 19th. Investors of record on Friday, December 2nd will be issued a $0.225 dividend. The ex-dividend date is Wednesday, November 30th. This represents a $0.90 annualized dividend and a yield of 1.55%. Commerce Bancshares’s dividend payout ratio (DPR) is currently 33.83%.
A number of analysts have recently weighed in on CBSH shares. Barclays PLC raised their price target on shares of Commerce Bancshares from $45.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, October 11th. Zacks Investment Research upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, October 13th. Morgan Stanley cut shares of Commerce Bancshares from an “equal weight” rating to an “underweight” rating and set a $45.00 price target on the stock. in a report on Tuesday, September 20th. Finally, Jefferies Group restated a “hold” rating on shares of Commerce Bancshares in a report on Thursday, August 18th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $45.75.
A number of hedge funds have recently modified their holdings of CBSH. Walleye Trading LLC bought a new stake in shares of Commerce Bancshares during the second quarter valued at about $101,000. Pacad Investment Ltd. acquired a new stake in shares of Commerce Bancshares during the second quarter worth about $120,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Commerce Bancshares by 28.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,547 shares of the financial services provider’s stock worth $122,000 after buying an additional 566 shares during the period. Mosaic Family Wealth LLC raised its stake in shares of Commerce Bancshares by 11.2% in the third quarter. Mosaic Family Wealth LLC now owns 2,889 shares of the financial services provider’s stock worth $142,000 after buying an additional 291 shares during the period. Finally, WFG Advisors LP raised its stake in shares of Commerce Bancshares by 0.5% in the second quarter. WFG Advisors LP now owns 3,725 shares of the financial services provider’s stock worth $178,000 after buying an additional 20 shares during the period. Hedge funds and other institutional investors own 60.83% of the company’s stock.
About Commerce Bancshares