Sara E. Foster Sells 4,783 Shares of Commerce Bancshares Inc. (CBSH) Stock
Commerce Bancshares Inc. (NASDAQ:CBSH) insider Sara E. Foster sold 4,783 shares of the firm’s stock in a transaction dated Friday, November 25th. The shares were sold at an average price of $57.98, for a total transaction of $277,318.34. Following the completion of the transaction, the insider now directly owns 59,728 shares in the company, valued at $3,463,029.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Commerce Bancshares Inc. (NASDAQ:CBSH) traded down 1.31% during midday trading on Monday, reaching $57.17. 364,500 shares of the company traded hands. The stock’s 50 day moving average is $51.95 and its 200 day moving average is $49.24. Commerce Bancshares Inc. has a one year low of $37.44 and a one year high of $58.21. The company has a market capitalization of $5.52 billion, a price-to-earnings ratio of 21.51 and a beta of 0.66.
Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Friday, October 14th. The financial services provider reported $0.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by $0.02. Commerce Bancshares had a net margin of 23.01% and a return on equity of 11.52%. The company had revenue of $290.60 million for the quarter. During the same quarter in the previous year, the company posted $0.63 EPS. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities analysts anticipate that Commerce Bancshares Inc. will post $2.74 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 19th. Stockholders of record on Friday, December 2nd will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Wednesday, November 30th. Commerce Bancshares’s dividend payout ratio is presently 33.83%.
Several large investors have recently made changes to their positions in CBSH. Speece Thorson Capital Group Inc. boosted its stake in shares of Commerce Bancshares by 1.4% in the second quarter. Speece Thorson Capital Group Inc. now owns 279,621 shares of the financial services provider’s stock valued at $13,394,000 after buying an additional 3,816 shares in the last quarter. Confluence Investment Management LLC boosted its stake in shares of Commerce Bancshares by 6.9% in the second quarter. Confluence Investment Management LLC now owns 217,387 shares of the financial services provider’s stock valued at $10,413,000 after buying an additional 14,054 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Commerce Bancshares by 3.2% in the second quarter. Ameriprise Financial Inc. now owns 216,221 shares of the financial services provider’s stock valued at $10,356,000 after buying an additional 6,783 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of Commerce Bancshares during the second quarter valued at $7,771,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Commerce Bancshares by 5.6% in the second quarter. Victory Capital Management Inc. now owns 17,069 shares of the financial services provider’s stock valued at $818,000 after buying an additional 908 shares in the last quarter. Hedge funds and other institutional investors own 61.41% of the company’s stock.
CBSH has been the topic of several recent analyst reports. Barclays PLC raised their target price 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. Morgan Stanley downgraded 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 research note on Tuesday, September 20th. Zacks Investment Research downgraded shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, September 19th. Finally, Jefferies Group restated a “hold” rating on shares of Commerce Bancshares in a research note 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 has an average rating of “Hold” and an average target price of $45.75.
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.
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