David Orf Sells 642 Shares of Commerce Bancshares (NASDAQ:CBSH) Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) VP David Orf sold 642 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $60.35, for a total transaction of $38,744.70. Following the sale, the vice president owned 24,962 shares in the company, valued at approximately $1,506,456.70. This trade represents a 2.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Commerce Bancshares Stock Performance

Shares of NASDAQ CBSH opened at $58.87 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.01. The firm’s 50-day moving average price is $58.17 and its two-hundred day moving average price is $53.76. Commerce Bancshares, Inc. has a 52-week low of $46.99 and a 52-week high of $60.92. The stock has a market capitalization of $8.44 billion, a P/E ratio of 14.25, a P/E/G ratio of 2.12 and a beta of 0.59.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, July 16th. The financial services provider reported $1.10 EPS for the quarter, beating the consensus estimate of $1.04 by $0.06. The company had revenue of $498.91 million during the quarter, compared to analyst estimates of $492.22 million. Commerce Bancshares had a return on equity of 14.31% and a net margin of 26.07%.During the same period in the prior year, the company earned $1.14 earnings per share. As a group, sell-side analysts forecast that Commerce Bancshares, Inc. will post 4.25 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, September 22nd. Investors of record on Friday, September 4th will be given a dividend of $0.275 per share. The ex-dividend date is Friday, September 4th. This represents a $1.10 dividend on an annualized basis and a yield of 1.9%. Commerce Bancshares’s payout ratio is currently 26.63%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted 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 buying an additional 1,098,142 shares during the period. Bank of America Corp DE grew its holdings in Commerce Bancshares by 62.9% during the first quarter. Bank of America Corp DE now owns 1,032,011 shares of the financial services provider’s stock worth $50,775,000 after acquiring an additional 398,670 shares during the period. Verition Fund Management LLC grew its holdings in Commerce Bancshares by 39.8% during the fourth quarter. Verition Fund Management LLC now owns 631,981 shares of the financial services provider’s stock worth $33,078,000 after acquiring an additional 179,894 shares during the period. Dimensional Fund Advisors LP raised its position in Commerce Bancshares by 29.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,943,247 shares of the financial services provider’s stock worth $193,999,000 after acquiring an additional 894,183 shares in the last quarter. Finally, Mosaic Family Wealth Partners LLC bought a new stake in Commerce Bancshares in the first quarter worth about $3,390,000. 70.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Weiss Ratings upgraded Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 21st. Wall Street Zen upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Keefe, Bruyette & Woods increased their price objective on shares of Commerce Bancshares from $60.00 to $62.00 and gave the stock a “market perform” rating in a report on Monday, July 20th. Wells Fargo & Company set a $63.00 price objective on shares of Commerce Bancshares and gave the company an “equal weight” rating in a research report on Monday, August 10th. Finally, Stephens set a $64.00 target price on shares of Commerce Bancshares and gave the company an “equal weight” rating in a research note on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $63.29.

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.