Commerce Bancshares (NASDAQ:CBSH) SVP Margaret Rowe Sells 861 Shares of Stock

Commerce Bancshares, Inc. (NASDAQ:CBSHGet Free Report) SVP Margaret Rowe sold 861 shares of the business’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $51.69, for a total transaction of $44,505.09. Following the transaction, the senior vice president directly owned 5,742 shares of the company’s stock, valued at approximately $296,803.98. This trade represents a 13.04% 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 Down 1.5%

CBSH stock opened at $49.60 on Tuesday. Commerce Bancshares, Inc. has a fifty-two week low of $48.58 and a fifty-two week high of $63.19. The firm’s 50-day simple moving average is $53.23 and its 200 day simple moving average is $53.67. The stock has a market cap of $7.29 billion, a PE ratio of 11.84, a price-to-earnings-growth ratio of 2.53 and a beta of 0.61.

Commerce Bancshares (NASDAQ:CBSHGet Free Report) last posted its earnings results on Thursday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.02. Commerce Bancshares had a net margin of 26.51% and a return on equity of 15.34%. The firm had revenue of $449.36 million during the quarter, compared to analyst estimates of $442.47 million. During the same period in the previous year, the business posted $1.01 EPS. Commerce Bancshares’s revenue was up 6.5% on a year-over-year basis. Equities analysts forecast that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm 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. The ex-dividend date is Friday, March 6th. This represents a $1.10 annualized dividend and a dividend yield of 2.2%. Commerce Bancshares’s payout ratio is currently 26.25%.

Hedge Funds Weigh In On Commerce Bancshares

Hedge funds have recently made changes to their positions in the business. Daytona Street Capital LLC bought a new stake in shares of Commerce Bancshares in the 4th quarter worth approximately $25,000. Danske Bank A S bought a new stake in Commerce Bancshares during the third quarter worth approximately $25,000. Geneos Wealth Management Inc. grew its position in Commerce Bancshares by 85.4% in the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after buying an additional 216 shares during the last quarter. Quent Capital LLC bought a new position in shares of Commerce Bancshares in the third quarter valued at $31,000. Finally, CoreFirst Bank & Trust bought a new position in shares of Commerce Bancshares in the second quarter valued at $33,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Stock Analysis on CBSH

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About Commerce Bancshares

(Get Free Report)

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.

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