Commerce Bancshares, Inc. (NASDAQ:CBSH) Chairman David W. Kemper sold 13,973 shares of the firm’s stock in a transaction dated Wednesday, April 19th. The shares were sold at an average price of $54.32, for a total value of $759,013.36. Following the sale, the chairman now owns 1,227,014 shares in the company, valued at $66,651,400.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Commerce Bancshares, Inc. (NASDAQ:CBSH) traded up 0.05% during midday trading on Friday, reaching $55.00. The company’s stock had a trading volume of 192,739 shares. The firm has a market capitalization of $5.59 billion, a PE ratio of 20.56 and a beta of 0.74. The stock has a 50 day moving average of $56.14 and a 200 day moving average of $54.76. Commerce Bancshares, Inc. has a 52 week low of $42.44 and a 52 week high of $60.61.
Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Thursday, April 13th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.03. Commerce Bancshares had a return on equity of 11.65% and a net margin of 23.19%. The business earned $295.30 million during the quarter, compared to analysts’ expectations of $298.61 million. During the same period in the prior year, the firm posted $0.62 EPS. Commerce Bancshares’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, equities research analysts predict that Commerce Bancshares, Inc. will post $2.83 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 26th. Stockholders of record on Friday, June 9th will be issued a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.64%. Commerce Bancshares’s payout ratio is presently 34.44%.
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Institutional investors have recently modified their holdings of the company. Massmutual Trust Co. FSB ADV bought a new position in shares of Commerce Bancshares during the fourth quarter worth about $108,000. MUFG Americas Holdings Corp boosted its position in shares of Commerce Bancshares by 5.0% in the fourth quarter. MUFG Americas Holdings Corp now owns 2,056 shares of the financial services provider’s stock worth $119,000 after buying an additional 97 shares during the last quarter. Mosaic Family Wealth LLC boosted its position in shares of Commerce Bancshares by 11.2% in the third quarter. Mosaic Family Wealth LLC now owns 2,889 shares of the financial services provider’s stock worth $142,000 after buying an additional 291 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Commerce Bancshares by 67.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,173 shares of the financial services provider’s stock worth $185,000 after buying an additional 1,273 shares during the last quarter. Finally, Tudor Investment Corp Et Al bought a new position in shares of Commerce Bancshares during the fourth quarter worth about $206,000. 57.14% of the stock is owned by institutional investors and hedge funds.
CBSH has been the topic of several analyst reports. Zacks Investment Research upgraded Commerce Bancshares from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Tuesday, March 21st. Barclays PLC dropped their target price on Commerce Bancshares from $55.00 to $54.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 11th. Stephens reiterated a “hold” rating on shares of Commerce Bancshares in a report on Monday. Jefferies Group LLC reiterated a “hold” rating and set a $61.00 target price on shares of Commerce Bancshares in a report on Tuesday, April 4th. Finally, Wells Fargo & Co initiated coverage on Commerce Bancshares in a report on Friday, January 6th. They set a “market perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $53.29.
Commerce Bancshares Company Profile
Commerce Bancshares, Inc is a bank holding company of Commerce Bank (the Bank). The Bank is engaged in general banking business, providing a range of retail, mortgage banking, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.
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