Commerce Bancshares (NASDAQ:CBSH) EVP Sells $301,000.00 in Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) EVP Robert Holmes sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $60.20, for a total value of $301,000.00. Following the completion of the sale, the executive vice president owned 55,962 shares in the company, valued at $3,368,912.40. The trade was a 8.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Commerce Bancshares Stock Performance

NASDAQ:CBSH opened at $59.27 on Monday. The company has a market cap of $8.64 billion, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 2.12 and a beta of 0.59. Commerce Bancshares, Inc. has a twelve month low of $46.99 and a twelve month high of $60.92. The business has a 50 day moving average price of $56.37 and a two-hundred day moving average price of $53.23. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.01.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.06. The company had revenue of $498.91 million for the quarter, compared to the consensus estimate of $492.22 million. Commerce Bancshares had a net margin of 26.07% and a return on equity of 14.31%. During the same period last year, the company earned $1.14 earnings per share. As a group, analysts expect that Commerce Bancshares, Inc. will post 4.22 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Friday, September 4th will be given a $0.275 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.10 dividend on an annualized basis and a yield of 1.9%. Commerce Bancshares’s dividend payout ratio (DPR) is 26.63%.

Wall Street Analyst Weigh In

CBSH has been the topic of several analyst reports. Piper Sandler reissued a “neutral” rating and set a $66.00 price target (up from $59.00) on shares of Commerce Bancshares in a research report on Friday, July 17th. Wall Street Zen upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, July 28th. Stephens set a $64.00 target price on Commerce Bancshares and gave the company an “equal weight” rating in a research report on Friday, July 17th. TD Cowen reiterated a “hold” rating and set a $63.00 target price (up from $62.00) on shares of Commerce Bancshares in a report on Friday, July 17th. Finally, Morgan Stanley reiterated a “positive” rating and set a $65.00 target price (up from $61.00) on shares of Commerce Bancshares in a report on Monday, June 29th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $62.43.

Institutional Trading of Commerce Bancshares

A number of large investors have recently added to or reduced their stakes in CBSH. Vanguard Group Inc. raised its position in shares of Commerce Bancshares by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 14,690,039 shares of the financial services provider’s stock valued at $768,877,000 after purchasing an additional 1,098,142 shares during the period. State Street Corp grew its stake in Commerce Bancshares by 8.4% in the 4th quarter. State Street Corp now owns 7,318,898 shares of the financial services provider’s stock valued at $383,071,000 after buying an additional 566,853 shares during the last quarter. Commerce Bank grew its stake in Commerce Bancshares by 7.0% in the 4th quarter. Commerce Bank now owns 5,660,823 shares of the financial services provider’s stock valued at $296,287,000 after buying an additional 369,636 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Commerce Bancshares by 29.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,943,247 shares of the financial services provider’s stock valued at $193,999,000 after acquiring an additional 894,183 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Commerce Bancshares by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 2,780,678 shares of the financial services provider’s stock valued at $147,097,000 after acquiring an additional 174,863 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Commerce Bancshares Company Profile

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.