Commerce Bancshares (NASDAQ:CBSH) CEO John Kemper Sells 23,397 Shares

Commerce Bancshares, Inc. (NASDAQ:CBSH) CEO John Kemper sold 23,397 shares of the firm’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $53.99, for a total value of $1,263,204.03. Following the completion of the transaction, the chief executive officer directly owned 206,528 shares in the company, valued at approximately $11,150,446.72. This represents a 10.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Commerce Bancshares Stock Performance

Shares of CBSH stock opened at $55.23 on Tuesday. Commerce Bancshares, Inc. has a 52-week low of $48.69 and a 52-week high of $64.53. The stock has a fifty day simple moving average of $53.29 and a two-hundred day simple moving average of $54.46. The firm has a market capitalization of $7.31 billion, a PE ratio of 13.18, a PEG ratio of 2.74 and a beta of 0.62.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.02. The business had revenue of $449.36 million for the quarter, compared to analysts’ expectations of $442.47 million. Commerce Bancshares had a return on equity of 15.51% and a net margin of 26.51%.The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.01 EPS. On average, sell-side analysts forecast that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Friday, March 6th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.0%. Commerce Bancshares’s dividend payout ratio is presently 26.25%.

Hedge Funds Weigh In On Commerce Bancshares

Institutional investors and hedge funds have recently made changes to their positions in the stock. Daytona Street Capital LLC purchased a new stake in Commerce Bancshares in the fourth quarter valued at $25,000. Danske Bank A S purchased a new position in Commerce Bancshares during the 3rd quarter worth $25,000. Geneos Wealth Management Inc. lifted its position in 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 during the period. Quent Capital LLC acquired a new stake in Commerce Bancshares during the 3rd quarter worth approximately $31,000. Finally, CoreFirst Bank & Trust acquired a new stake in shares of Commerce Bancshares during the second quarter worth $33,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. TD Cowen reduced their price target on Commerce Bancshares from $61.00 to $55.00 and set a “hold” rating on the stock in a research report on Wednesday, January 7th. Piper Sandler set a $62.00 price objective on shares of Commerce Bancshares and gave the company a “neutral” rating in a report on Monday, January 26th. Wells Fargo & Company decreased their price target on Commerce Bancshares from $61.90 to $57.14 and set an “equal weight” rating for the company in a report on Tuesday, October 21st. Wall Street Zen downgraded shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Finally, Keefe, Bruyette & Woods dropped their price objective on Commerce Bancshares from $61.90 to $57.14 and set a “market perform” rating on the stock in a report on Friday, October 17th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Commerce Bancshares presently has a consensus rating of “Reduce” and a consensus target price of $61.75.

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.