Commerce Bancshares (NASDAQ:CBSH) CEO Sells $1,263,204.03 in Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) CEO John Kemper sold 23,397 shares of the business’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $53.99, for a total transaction of $1,263,204.03. Following the transaction, the chief executive officer owned 206,528 shares of the company’s stock, valued at approximately $11,150,446.72. The trade was a 10.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Commerce Bancshares Price Performance

Shares of NASDAQ CBSH opened at $54.73 on Thursday. The company has a market capitalization of $7.25 billion, a price-to-earnings ratio of 13.06, a price-to-earnings-growth ratio of 2.74 and a beta of 0.62. The business has a 50-day moving average of $53.42 and a two-hundred day moving average of $54.43. Commerce Bancshares, Inc. has a 1 year low of $48.69 and a 1 year high of $64.07.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.02. The business had revenue of $449.36 million for the quarter, compared to the consensus estimate of $442.47 million. Commerce Bancshares had a return on equity of 15.51% and a net margin of 26.51%.The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.01 EPS. As a group, equities research analysts expect that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Friday, March 6th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Friday, March 6th. Commerce Bancshares’s payout ratio is currently 26.25%.

Hedge Funds Weigh In On Commerce Bancshares

Several institutional investors have recently bought and sold shares of the company. Danske Bank A S purchased a new stake in Commerce Bancshares in the 3rd quarter valued at approximately $25,000. Geneos Wealth Management Inc. grew its holdings in Commerce Bancshares by 85.4% during the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 216 shares during the period. Daytona Street Capital LLC acquired a new position in Commerce Bancshares during the fourth quarter worth $25,000. Quent Capital LLC acquired a new stake in Commerce Bancshares in the third quarter valued at $31,000. Finally, CoreFirst Bank & Trust purchased a new stake in shares of Commerce Bancshares during the 2nd quarter worth $33,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company reduced their price target on shares of Commerce Bancshares from $61.90 to $57.14 and set an “equal weight” rating for the company in a research report on Tuesday, October 21st. Piper Sandler set a $62.00 target price on Commerce Bancshares and gave the company a “neutral” rating in a report on Monday, January 26th. Zacks Research downgraded Commerce Bancshares from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 8th. Keefe, Bruyette & Woods reduced their price objective on Commerce Bancshares from $61.90 to $57.14 and set a “market perform” rating for the company in a research note on Friday, October 17th. Finally, Wall Street Zen downgraded Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Commerce Bancshares presently has a consensus rating of “Reduce” and an average target price of $61.75.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.