Insider Selling: Commerce Bancshares (NASDAQ:CBSH) SVP Sells $44,505.09 in Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Margaret Rowe sold 861 shares of the firm’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $51.69, for a total value of $44,505.09. Following the transaction, the senior vice president owned 5,742 shares of the company’s stock, valued at $296,803.98. This trade represents a 13.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Commerce Bancshares Price Performance

Shares of CBSH stock opened at $48.29 on Thursday. The stock has a market capitalization of $7.09 billion, a PE ratio of 11.53, a PEG ratio of 2.45 and a beta of 0.61. The business’s 50 day simple moving average is $53.08 and its 200 day simple moving average is $53.55. Commerce Bancshares, Inc. has a one year low of $47.96 and a one year high of $63.19.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $442.47 million. During the same quarter in the previous year, the company earned $1.01 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, research analysts expect that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current 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 $0.275 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.10 annualized dividend and a dividend yield of 2.3%. Commerce Bancshares’s dividend payout ratio (DPR) is 26.25%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Commerce Bancshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Daytona Street Capital LLC bought a new stake in shares of Commerce Bancshares during the 4th quarter valued at about $25,000. Danske Bank A S purchased a new stake in Commerce Bancshares in the third quarter valued at approximately $25,000. Geneos Wealth Management Inc. lifted its position in Commerce Bancshares by 85.4% during the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 216 shares during the last quarter. Quent Capital LLC purchased a new position in Commerce Bancshares in the 3rd quarter worth approximately $31,000. Finally, CoreFirst Bank & Trust purchased a new position in Commerce Bancshares in the 2nd quarter worth approximately $33,000. Institutional investors 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.