Commerce Bancshares (CBSH) Reaches New 52-Week High and Low at $66.08

Commerce Bancshares, Inc. (NASDAQ:CBSH)’s share price hit a new 52-week high and low on Tuesday . The stock traded as low as $66.08 and last traded at $65.93, with a volume of 11621 shares. The stock had previously closed at $65.52.

Several equities analysts have recently weighed in on CBSH shares. Zacks Investment Research raised shares of Commerce Bancshares from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research note on Monday, April 9th. ValuEngine raised shares of Commerce Bancshares from a “hold” rating to a “buy” rating in a research note on Friday, March 23rd. BidaskClub raised shares of Commerce Bancshares from a “hold” rating to a “buy” rating in a research note on Thursday, March 15th. Barclays decreased their price target on shares of Commerce Bancshares from $63.00 to $58.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 11th. Finally, Raymond James raised shares of Commerce Bancshares from an “underperform” rating to a “market perform” rating in a research note on Tuesday, April 10th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $60.70.

The company has a market cap of $6.98 billion, a price-to-earnings ratio of 23.61, a price-to-earnings-growth ratio of 1.97 and a beta of 0.69.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Thursday, April 12th. The financial services provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.12. Commerce Bancshares had a net margin of 27.16% and a return on equity of 13.21%. The business had revenue of $312.58 million for the quarter, compared to the consensus estimate of $310.64 million. During the same period in the previous year, the firm earned $0.68 EPS. equities research analysts anticipate that Commerce Bancshares, Inc. will post 3.61 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 25th. Stockholders of record on Friday, June 8th will be given a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Thursday, June 7th. Commerce Bancshares’s dividend payout ratio (DPR) is currently 33.94%.

In other news, EVP Sara E. Foster sold 1,472 shares of Commerce Bancshares stock in a transaction that occurred on Wednesday, April 18th. The shares were sold at an average price of $63.29, for a total value of $93,162.88. Following the transaction, the executive vice president now directly owns 45,299 shares of the company’s stock, valued at $2,866,973.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Patricia R. Kellerhals sold 798 shares of Commerce Bancshares stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $60.97, for a total transaction of $48,654.06. Following the completion of the transaction, the insider now directly owns 5,523 shares in the company, valued at $336,737.31. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,241 shares of company stock worth $3,159,492. 4.00% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Bank of The Ozarks increased its position in shares of Commerce Bancshares by 5.4% in the fourth quarter. Bank of The Ozarks now owns 21,101 shares of the financial services provider’s stock worth $1,178,000 after acquiring an additional 1,074 shares in the last quarter. Schroder Investment Management Group increased its position in shares of Commerce Bancshares by 49.9% in the fourth quarter. Schroder Investment Management Group now owns 1,266,154 shares of the financial services provider’s stock worth $70,702,000 after acquiring an additional 421,526 shares in the last quarter. California State Teachers Retirement System increased its position in shares of Commerce Bancshares by 5.6% in the fourth quarter. California State Teachers Retirement System now owns 157,681 shares of the financial services provider’s stock worth $8,805,000 after acquiring an additional 8,431 shares in the last quarter. State of Wisconsin Investment Board increased its position in shares of Commerce Bancshares by 5.4% in the fourth quarter. State of Wisconsin Investment Board now owns 19,336 shares of the financial services provider’s stock worth $1,080,000 after acquiring an additional 988 shares in the last quarter. Finally, Koch Industries Inc. purchased a new position in shares of Commerce Bancshares in the fourth quarter worth approximately $652,000. 64.95% of the stock is currently owned by institutional investors and hedge funds.

About Commerce Bancshares

Commerce Bancshares, Inc operates as the holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online, mobile, and telephone banking services.

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