Commerce Bancshares (NASDAQ:CBSH) SVP Sells $48,826.05 in Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Kim Jakovich sold 949 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $51.45, for a total value of $48,826.05. Following the sale, the senior vice president owned 12,741 shares in the company, valued at approximately $655,524.45. The trade was a 6.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Commerce Bancshares Stock Performance

Shares of CBSH stock opened at $48.29 on Thursday. Commerce Bancshares, Inc. has a fifty-two week low of $47.96 and a fifty-two week high of $63.19. The stock has a 50 day simple moving average of $53.08 and a two-hundred day simple moving average of $53.55. The company has a market cap of $7.09 billion, a P/E ratio of 11.53, a PEG ratio of 2.45 and a beta of 0.61.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.99 by $0.02. The company had revenue of $449.36 million during 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 quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.01 EPS. On average, research analysts predict that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Friday, March 6th will be paid a dividend of $0.275 per share. 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%.

Analyst Ratings Changes

CBSH has been the subject of several research analyst reports. Zacks Research raised shares of Commerce Bancshares from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Morgan Stanley reduced their target price 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Commerce Bancshares in a research report on Monday, December 29th. TD Cowen dropped their price target on Commerce Bancshares from $61.00 to $55.00 and set a “hold” rating on the stock in a research note on Wednesday, January 7th. Finally, Piper Sandler set a $62.00 price target on Commerce Bancshares and gave the stock a “neutral” rating in a report on Monday, January 26th. One research analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $61.51.

Institutional Investors Weigh In On Commerce Bancshares

Hedge funds and other institutional investors have recently made changes to their positions in the business. Daytona Street Capital LLC bought a new position in shares of Commerce Bancshares in the fourth quarter valued at approximately $25,000. Danske Bank A S bought a new stake in Commerce Bancshares during the third quarter worth $25,000. Geneos Wealth Management Inc. raised its position in Commerce Bancshares by 85.4% in 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 last quarter. Quent Capital LLC purchased a new stake in Commerce Bancshares in the 3rd quarter valued at $31,000. Finally, CoreFirst Bank & Trust bought a new position in Commerce Bancshares during the 2nd quarter valued at $33,000. 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.