Commerce Bancshares (NASDAQ:CBSH) SVP Kim Jakovich Sells 949 Shares

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Kim Jakovich sold 949 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $51.45, for a total transaction of $48,826.05. Following the completion of the transaction, the senior vice president owned 12,741 shares in the company, valued at $655,524.45. This trade represents a 6.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Commerce Bancshares Stock Performance

Shares of CBSH stock traded down $0.76 during trading hours on Monday, hitting $49.60. 1,489,137 shares of the company were exchanged, compared to its average volume of 1,357,236. The company has a 50 day simple moving average of $53.30 and a two-hundred day simple moving average of $53.73. Commerce Bancshares, Inc. has a fifty-two week low of $48.58 and a fifty-two week high of $63.19. The firm has a market cap of $7.29 billion, a P/E ratio of 11.84, a P/E/G ratio of 2.53 and a beta of 0.61.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Thursday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. The company had revenue of $449.36 million for the quarter, compared to analyst estimates of $442.47 million. Commerce Bancshares had a return on equity of 15.34% and a net margin of 26.51%.Commerce Bancshares’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.01 earnings per share. As a group, sell-side analysts expect that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Friday, March 6th will be paid a $0.275 dividend. The ex-dividend date is Friday, March 6th. This represents a $1.10 annualized dividend and a yield of 2.2%. Commerce Bancshares’s dividend payout ratio is presently 26.25%.

Hedge Funds Weigh In On Commerce Bancshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Apriem Advisors increased its stake in Commerce Bancshares by 5.0% in the 4th quarter. Apriem Advisors now owns 4,018 shares of the financial services provider’s stock valued at $210,000 after buying an additional 191 shares during the last quarter. Heartland Bank & Trust Co boosted its holdings in shares of Commerce Bancshares by 4.4% in the fourth quarter. Heartland Bank & Trust Co now owns 4,595 shares of the financial services provider’s stock worth $240,000 after acquiring an additional 192 shares during the period. Profund Advisors LLC increased its position in shares of Commerce Bancshares by 4.4% during the third quarter. Profund Advisors LLC now owns 4,682 shares of the financial services provider’s stock valued at $280,000 after buying an additional 197 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in Commerce Bancshares by 0.8% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 25,004 shares of the financial services provider’s stock valued at $1,494,000 after purchasing an additional 200 shares during the period. Finally, Outlook Wealth Advisors LLC increased its stake in Commerce Bancshares by 3.7% in the 4th quarter. Outlook Wealth Advisors LLC now owns 5,934 shares of the financial services provider’s stock worth $311,000 after acquiring an additional 214 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CBSH. Weiss Ratings reiterated a “hold (c)” rating on shares of Commerce Bancshares in a research report on Monday, December 29th. Piper Sandler set a $62.00 price objective on shares of Commerce Bancshares and gave the company a “neutral” rating in a research report on Monday, January 26th. Zacks Research upgraded shares of Commerce Bancshares from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Morgan Stanley lowered their price target on Commerce Bancshares from $67.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Monday, March 2nd. Finally, TD Cowen cut their price objective on Commerce Bancshares from $61.00 to $55.00 and set a “hold” rating for the company in a report on Wednesday, January 7th. One equities research analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $61.51.

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.