Commerce Bancshares Inc. (NASDAQ:CBSH) insider Charles G. Kim sold 7,804 shares of the company’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $57.76, for a total value of $450,759.04. Following the completion of the sale, the insider now owns 111,431 shares of the company’s stock, valued at approximately $6,436,254.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Commerce Bancshares Inc. (NASDAQ:CBSH) opened at 57.98 on Thursday. Commerce Bancshares Inc. has a 52 week low of $37.44 and a 52 week high of $58.21. The company’s 50-day moving average price is $51.66 and its 200-day moving average price is $49.15. The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of 21.81 and a beta of 0.66.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Friday, October 14th. The financial services provider reported $0.68 EPS for the quarter, missing the Zacks’ consensus estimate of $0.70 by $0.02. Commerce Bancshares had a return on equity of 11.52% and a net margin of 23.01%. The firm had revenue of $290.60 million for the quarter. During the same period in the prior year, the company posted $0.63 earnings per share. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities analysts forecast that Commerce Bancshares Inc. will post $2.74 earnings per share for the current fiscal year.

Insider Buying and Selling by Quarter for Commerce Bancshares (NASDAQ:CBSH)

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 19th. Stockholders 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 dividend yield of 1.55%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 33.83%.

A number of analysts have commented on the company. Barclays PLC upped their price target on Commerce Bancshares from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 11th. Zacks Investment Research upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, October 13th. Morgan Stanley cut Commerce Bancshares from an “equal weight” rating to an “underweight” rating and set a $45.00 target price for the company. in a research report on Tuesday, September 20th. Finally, Jefferies Group reiterated a “hold” rating on shares of Commerce Bancshares in a research report on Thursday, August 18th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $45.75.

Several institutional investors have recently modified their holdings of CBSH. The Manufacturers Life Insurance Company bought a new position in shares of Commerce Bancshares during the third quarter valued at about $30,961,000. JPMorgan Chase & Co. boosted its position in shares of Commerce Bancshares by 142.8% in the second quarter. JPMorgan Chase & Co. now owns 555,447 shares of the financial services provider’s stock valued at $26,606,000 after buying an additional 326,694 shares during the period. Nuance Investments LLC boosted its position in shares of Commerce Bancshares by 56.7% in the third quarter. Nuance Investments LLC now owns 750,241 shares of the financial services provider’s stock valued at $36,957,000 after buying an additional 271,615 shares during the period. Principal Financial Group Inc. boosted its position in shares of Commerce Bancshares by 88.0% in the second quarter. Principal Financial Group Inc. now owns 518,053 shares of the financial services provider’s stock valued at $24,827,000 after buying an additional 242,451 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Commerce Bancshares by 3.3% in the second quarter. Vanguard Group Inc. now owns 6,706,151 shares of the financial services provider’s stock valued at $321,225,000 after buying an additional 217,230 shares during the period. 60.83% of the stock is owned by institutional investors and hedge funds.

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About Commerce Bancshares

Commerce Bancshares, Inc is a bank holding company of Commerce Bank (the Bank). The Bank is engaged in general banking business, providing a range of retail, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.

5 Day Chart for NASDAQ:CBSH

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