John Kemper Sells 23,397 Shares of Commerce Bancshares (NASDAQ:CBSH) Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) CEO John Kemper sold 23,397 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $53.99, for a total transaction of $1,263,204.03. Following the completion of the transaction, the chief executive officer directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Commerce Bancshares Stock Performance

Shares of NASDAQ:CBSH traded up $0.06 during trading on Monday, hitting $55.23. The company’s stock had a trading volume of 1,714,716 shares, compared to its average volume of 1,294,987. The company has a market capitalization of $7.31 billion, a PE ratio of 13.18, a PEG ratio of 2.74 and a beta of 0.62. Commerce Bancshares, Inc. has a fifty-two week low of $48.69 and a fifty-two week high of $64.53. The stock’s 50-day moving average price is $53.22 and its two-hundred day moving average price is $54.49.

Commerce Bancshares (NASDAQ:CBSH) last announced 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 return on equity of 15.51% and a net margin of 26.51%.The company had revenue of $449.36 million for the quarter, compared to analyst estimates of $442.47 million. During the same period in the prior year, the company posted $1.01 EPS. Commerce Bancshares’s quarterly revenue was up 6.5% on a year-over-year basis. On average, equities analysts predict that Commerce Bancshares, Inc. will post 3.94 earnings per share 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. Shareholders of record on Friday, March 6th will be paid a dividend of $0.275 per share. The ex-dividend date is Friday, March 6th. This represents a $1.10 annualized dividend and a yield of 2.0%. Commerce Bancshares’s dividend payout ratio is presently 26.25%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wall Street Zen cut Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Wells Fargo & Company reduced their price target on shares of Commerce Bancshares from $61.90 to $57.14 and set an “equal weight” rating on the stock in a research report on Tuesday, October 21st. Keefe, Bruyette & Woods lowered their price objective on shares of Commerce Bancshares from $61.90 to $57.14 and set a “market perform” rating for the company in a research report on Friday, October 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Commerce Bancshares in a report on Monday, December 29th. Finally, Piper Sandler set a $62.00 target price on Commerce Bancshares and gave the company a “neutral” rating in a research note on Monday, January 26th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Commerce Bancshares has an average rating of “Reduce” and an average target price of $61.75.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Daytona Street Capital LLC acquired a new position in shares of Commerce Bancshares during the fourth quarter valued at $25,000. Danske Bank A S bought a new position in Commerce Bancshares in the 3rd quarter valued at about $25,000. Geneos Wealth Management Inc. increased its stake in Commerce Bancshares by 85.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock valued at $29,000 after buying an additional 216 shares during the period. Quent Capital LLC bought a new stake in shares of Commerce Bancshares during the 3rd quarter worth about $31,000. Finally, CoreFirst Bank & Trust acquired a new stake in shares of Commerce Bancshares in the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

About Commerce Bancshares

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.