Insider Selling: Commerce Bancshares (NASDAQ:CBSH) VP Sells $38,744.70 in Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) VP David Orf sold 642 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $60.35, for a total value of $38,744.70. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Commerce Bancshares Stock Performance

CBSH opened at $58.80 on Friday. The business has a fifty day simple moving average of $58.24 and a 200 day simple moving average of $53.81. The company has a market capitalization of $8.43 billion, a PE ratio of 14.24, a price-to-earnings-growth ratio of 2.09 and a beta of 0.59. Commerce Bancshares, Inc. has a 1 year low of $46.99 and a 1 year high of $60.92. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.82 and a quick ratio of 0.82.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.06. The firm had revenue of $498.91 million for 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 firm posted $1.14 EPS. Research analysts expect that Commerce Bancshares, Inc. will post 4.25 EPS for the current year.

Commerce Bancshares Dividend Announcement

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

Institutional Investors Weigh In On Commerce Bancshares

Several institutional investors and hedge funds have recently bought and sold shares of the company. Danske Bank A S bought a new position in Commerce Bancshares in the 3rd quarter valued at about $25,000. Keating Financial Advisory Services Inc. bought a new stake in shares of Commerce Bancshares during the 2nd quarter worth approximately $29,000. Geneos Wealth Management Inc. boosted its position in shares of Commerce Bancshares by 85.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 216 shares in the last quarter. Root Financial Partners LLC increased its stake in Commerce Bancshares by 104.9% in the first quarter. Root Financial Partners LLC now owns 623 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 319 shares during the last quarter. Finally, Laurel Wealth Advisors LLC acquired a new position in Commerce Bancshares during the fourth quarter valued at approximately $34,000. Institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on CBSH. Keefe, Bruyette & Woods lifted their price objective on shares of Commerce Bancshares from $60.00 to $62.00 and gave the stock a “market perform” rating in a research note on Monday, July 20th. Wall Street Zen raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, July 28th. Piper Sandler reiterated a “neutral” rating and issued a $66.00 price target (up from $59.00) on shares of Commerce Bancshares in a research report on Friday, July 17th. Weiss Ratings upgraded Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 21st. Finally, Wells Fargo & Company set a $63.00 price target on Commerce Bancshares and gave the stock an “equal weight” rating in a research report on Monday, August 10th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Commerce Bancshares currently has a consensus rating of “Hold” and a consensus price target of $63.29.

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.