Timothy Dunn Purchases 2,500 Shares of Commerce Bancshares (NASDAQ:CBSH) Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) Director Timothy Dunn bought 2,500 shares of Commerce Bancshares stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average cost of $47.71 per share, with a total value of $119,275.00. Following the completion of the acquisition, the director directly owned 5,403 shares in the company, valued at $257,777.13. This represents a 86.12% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Commerce Bancshares Trading Down 0.3%

NASDAQ CBSH traded down $0.13 on Tuesday, reaching $47.82. 964,664 shares of the stock were exchanged, compared to its average volume of 1,341,966. Commerce Bancshares, Inc. has a one year low of $47.28 and a one year high of $63.19. The firm has a market capitalization of $7.02 billion, a PE ratio of 11.41, a PEG ratio of 2.39 and a beta of 0.61. The company’s 50-day simple moving average is $52.78 and its two-hundred day simple moving average is $53.27.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate 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 net margin of 26.51% and a return on equity of 15.34%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.01 earnings per share. Sell-side analysts forecast that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Friday, March 6th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.10 annualized dividend and a yield of 2.3%. Commerce Bancshares’s dividend payout ratio is currently 26.25%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Commerce Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CBSH. Norges Bank purchased a new stake in shares of Commerce Bancshares during the 4th quarter worth approximately $85,282,000. Champlain Investment Partners LLC purchased a new position in shares of Commerce Bancshares in the fourth quarter valued at $58,830,000. Vanguard Group Inc. grew its holdings in shares of Commerce Bancshares by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 14,690,039 shares of the financial services provider’s stock valued at $768,877,000 after purchasing an additional 1,098,142 shares in the last quarter. Victory Capital Management Inc. increased its position in Commerce Bancshares by 1,433.7% in the fourth quarter. Victory Capital Management Inc. now owns 1,145,683 shares of the financial services provider’s stock worth $59,965,000 after purchasing an additional 1,070,980 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Commerce Bancshares by 37.4% in the fourth quarter. First Trust Advisors LP now owns 2,352,406 shares of the financial services provider’s stock worth $123,125,000 after purchasing an additional 640,928 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

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.