Insider Selling: Commerce Bancshares (NASDAQ:CBSH) SVP Sells $38,727.90 in Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Douglas Neff sold 666 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $58.15, for a total transaction of $38,727.90. Following the transaction, the senior vice president directly owned 11,746 shares in the company, valued at $683,029.90. The trade was a 5.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Commerce Bancshares Trading Up 1.4%

Shares of NASDAQ CBSH opened at $57.96 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 stock’s 50 day moving average price is $58.74 and its two-hundred day moving average price is $54.04. 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 $8.31 billion, a P/E ratio of 14.03, a PEG ratio of 2.04 and a beta of 0.58.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.06. Commerce Bancshares had a return on equity of 14.31% and a net margin of 26.07%.The business had revenue of $498.91 million for the quarter, compared to analyst estimates of $492.22 million. During the same period in the prior year, the company posted $1.14 EPS. On average, analysts anticipate that Commerce Bancshares, Inc. will post 4.23 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Friday, September 4th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.10 annualized dividend and a dividend yield of 1.9%. Commerce Bancshares’s dividend payout ratio (DPR) is 26.63%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CBSH. Weiss Ratings raised Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, July 21st. TD Cowen restated a “hold” rating and set a $63.00 price target (up from $62.00) on shares of Commerce Bancshares in a research report on Friday, July 17th. Raymond James Financial raised shares of Commerce Bancshares to a “hold” rating in a report on Thursday, August 27th. Wall Street Zen upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Finally, Wells Fargo & Company set a $63.00 target price on shares of Commerce Bancshares and gave the company an “equal weight” rating in a research note on Monday, August 10th. Three equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $63.29.

Institutional Trading of Commerce Bancshares

A number of institutional investors have recently made changes to their positions in CBSH. Danske Bank A S bought a new position in shares of Commerce Bancshares during the 3rd quarter valued at about $25,000. Keating Financial Advisory Services Inc. bought a new stake in shares of Commerce Bancshares in the 2nd quarter worth approximately $29,000. Geneos Wealth Management Inc. lifted its stake 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. Root Financial Partners LLC boosted its holdings in Commerce Bancshares by 104.9% during the first quarter. Root Financial Partners LLC now owns 623 shares of the financial services provider’s stock worth $31,000 after buying an additional 319 shares in the last quarter. Finally, Rothschild Investment LLC boosted its holdings in Commerce Bancshares by 75.3% during the fourth quarter. Rothschild Investment LLC now owns 1,031 shares of the financial services provider’s stock worth $54,000 after buying an additional 443 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

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.