Commerce Bancshares, Inc. (NASDAQ:CBSH) insider Charles G. Kim sold 9,106 shares of the company’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $57.19, for a total value of $520,772.14. Following the sale, the insider now owns 96,712 shares of the company’s stock, valued at approximately $5,530,959.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Commerce Bancshares, Inc. (NASDAQ:CBSH) traded down 0.17% on Thursday, reaching $58.40. The company’s stock had a trading volume of 184,392 shares. The stock has a market cap of $5.93 billion, a PE ratio of 22.38 and a beta of 0.74. Commerce Bancshares, Inc. has a 12-month low of $38.10 and a 12-month high of $59.22. The company’s 50 day moving average price is $56.82 and its 200-day moving average price is $51.53.
Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Wednesday, January 18th. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.01. Commerce Bancshares had a return on equity of 11.65% and a net margin of 23.19%. The business earned $292.70 million during the quarter, compared to analysts’ expectations of $299.84 million. During the same quarter last year, the business posted $0.60 EPS. The business’s revenue was up 5.1% on a year-over-year basis. On average, equities analysts expect that Commerce Bancshares, Inc. will post $2.78 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 27th. Shareholders of record on Friday, March 10th will be issued a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.54%. The ex-dividend date is Wednesday, March 8th. Commerce Bancshares’s dividend payout ratio (DPR) is currently 34.44%.
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A number of large investors have recently added to or reduced their stakes in CBSH. BB&T Corp acquired a new stake in Commerce Bancshares during the second quarter valued at $3,607,000. BlackRock Advisors LLC boosted its stake in Commerce Bancshares by 8.5% in the second quarter. BlackRock Advisors LLC now owns 46,547 shares of the financial services provider’s stock valued at $2,230,000 after buying an additional 3,656 shares during the period. Walleye Trading LLC acquired a new stake in Commerce Bancshares during the second quarter valued at $101,000. Folger Hill Asset Management LP acquired a new stake in Commerce Bancshares during the second quarter valued at $1,508,000. Finally, FDx Advisors Inc. boosted its stake in Commerce Bancshares by 51.9% in the second quarter. FDx Advisors Inc. now owns 7,972 shares of the financial services provider’s stock valued at $382,000 after buying an additional 2,723 shares during the period. Institutional investors and hedge funds own 57.14% of the company’s stock.
Several equities research analysts recently issued reports on the company. Zacks Investment Research downgraded Commerce Bancshares from a “buy” rating to a “hold” rating in a report on Monday, January 23rd. Wells Fargo & Company assumed coverage on Commerce Bancshares in a report on Friday, January 6th. They set a “market perform” rating for the company. Finally, Barclays PLC upped their price target on Commerce Bancshares from $47.00 to $55.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 6th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. The company has an average rating of “Hold” and an average price target of $48.30.
About Commerce Bancshares
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, 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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