Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) SVP Patricia R. Kellerhals sold 1,000 shares of the company's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $67.69, for a total value of $67,690.00. Following the completion of the sale, the senior vice president now owns 21,265 shares of the company's stock, valued at $1,439,427.85. This represents a 4.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Commerce Bancshares Stock Performance
Shares of CBSH opened at $63.87 on Thursday. The stock has a 50-day moving average of $67.09 and a two-hundred day moving average of $62.07. The stock has a market cap of $8.19 billion, a P/E ratio of 16.63, a P/E/G ratio of 2.92 and a beta of 0.77. Commerce Bancshares, Inc. has a one year low of $47.09 and a one year high of $72.75.
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, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $412.85 million. Analysts predict that Commerce Bancshares, Inc. will post 3.95 EPS for the current fiscal year.
Commerce Bancshares Dividend Announcement
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The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd were paid a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.69%. Commerce Bancshares's payout ratio is currently 28.13%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. purchased a new position in shares of Commerce Bancshares during the 3rd quarter valued at about $2,861,000. Tidal Investments LLC grew its holdings in Commerce Bancshares by 13.5% during the third quarter. Tidal Investments LLC now owns 39,040 shares of the financial services provider's stock worth $2,319,000 after acquiring an additional 4,654 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Commerce Bancshares during the third quarter valued at approximately $475,000. Sanctuary Advisors LLC lifted its holdings in Commerce Bancshares by 35.5% in the third quarter. Sanctuary Advisors LLC now owns 42,924 shares of the financial services provider's stock valued at $2,550,000 after acquiring an additional 11,247 shares during the period. Finally, Virtu Financial LLC purchased a new stake in Commerce Bancshares in the 3rd quarter worth approximately $566,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
CBSH has been the topic of a number of research reports. Keefe, Bruyette & Woods raised their target price on shares of Commerce Bancshares from $66.00 to $78.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Wells Fargo & Company raised their price objective on Commerce Bancshares from $62.00 to $67.00 and gave the company an "equal weight" rating in a research report on Tuesday, December 3rd. Morgan Stanley lowered shares of Commerce Bancshares from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $66.00 to $64.00 in a research report on Monday, September 30th. Piper Sandler set a $68.50 price objective on shares of Commerce Bancshares and gave the stock a "neutral" rating in a research report on Friday, October 18th. Finally, StockNews.com raised Commerce Bancshares from a "sell" rating to a "hold" rating in a research report on Friday, October 18th. Eight analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $65.07.
Read Our Latest Report on Commerce Bancshares
Commerce Bancshares Company Profile
(
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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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