Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) SVP Douglas D. Neff sold 888 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $72.10, for a total transaction of $64,024.80. Following the sale, the senior vice president now directly owns 8,038 shares in the company, valued at $579,539.80. This trade represents a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Commerce Bancshares Price Performance
Shares of NASDAQ CBSH traded down $0.25 during mid-day trading on Friday, hitting $71.46. The company had a trading volume of 76,292 shares, compared to its average volume of 531,699. The business's 50-day simple moving average is $62.24 and its 200-day simple moving average is $59.62. The firm has a market cap of $9.16 billion, a P/E ratio of 18.67, a PEG ratio of 3.89 and a beta of 0.73. Commerce Bancshares, Inc. has a 12 month low of $46.72 and a 12 month high of $73.31.
Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last issued its earnings results on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $1.00 by $0.07. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. The firm had revenue of $421.38 million during the quarter, compared to analysts' expectations of $412.85 million. As a group, sell-side analysts predict that Commerce Bancshares, Inc. will post 4.02 EPS for the current year.
Commerce Bancshares Announces Dividend
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The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.27 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.51%. Commerce Bancshares's payout ratio is 28.13%.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on CBSH shares. Morgan Stanley downgraded shares of Commerce Bancshares from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $66.00 to $64.00 in a report on Monday, September 30th. Piper Sandler set a $68.50 price objective on shares of Commerce Bancshares and gave the company a "neutral" rating in a report on Friday, October 18th. StockNews.com upgraded Commerce Bancshares from a "sell" rating to a "hold" rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company upped their price target on Commerce Bancshares from $52.00 to $62.00 and gave the company an "equal weight" rating in a report on Monday, July 22nd. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Commerce Bancshares presently has a consensus rating of "Hold" and an average price target of $61.79.
View Our Latest Stock Analysis on CBSH
Institutional Trading of Commerce Bancshares
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. boosted its stake in Commerce Bancshares by 0.5% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 30,906 shares of the financial services provider's stock worth $1,724,000 after purchasing an additional 154 shares during the period. Sound Stewardship LLC lifted its position in Commerce Bancshares by 3.9% during the 3rd quarter. Sound Stewardship LLC now owns 4,339 shares of the financial services provider's stock worth $258,000 after buying an additional 163 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Commerce Bancshares by 51.1% during the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider's stock worth $34,000 after buying an additional 192 shares during the last quarter. Outlook Wealth Advisors LLC increased its position in shares of Commerce Bancshares by 3.6% in the third quarter. Outlook Wealth Advisors LLC now owns 6,303 shares of the financial services provider's stock valued at $374,000 after acquiring an additional 217 shares during the last quarter. Finally, Marshall Financial Group LLC boosted its position in Commerce Bancshares by 1.2% during the third quarter. Marshall Financial Group LLC now owns 18,257 shares of the financial services provider's stock valued at $1,084,000 after purchasing an additional 223 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.
About Commerce Bancshares
(
Get Free Report)
Commerce Bancshares, Inc operates as the bank holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses in the United States. It operates through three segments: Consumer, Commercial, and Wealth.
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