Commerce Bancshares, Inc. (NASDAQ:CBSH) EVP Kevin G. Barth Sells 1,582 Shares of Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) EVP Kevin G. Barth sold 1,582 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $67.54, for a total transaction of $106,848.28. Following the sale, the executive vice president now owns 65,409 shares of the company’s stock, valued at approximately $4,417,723.86. This represents a 2.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Commerce Bancshares Trading Down 1.5 %

CBSH stock opened at $62.89 on Friday. The company’s 50-day moving average price is $67.18 and its 200 day moving average price is $62.07. Commerce Bancshares, Inc. has a 52 week low of $47.09 and a 52 week high of $72.75. The company has a market cap of $8.06 billion, a P/E ratio of 16.38, a P/E/G ratio of 2.92 and a beta of 0.77.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.07. The company had revenue of $421.38 million during the quarter, compared to the consensus estimate of $412.85 million. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. On average, equities research analysts expect that Commerce Bancshares, Inc. will post 3.95 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.72%. Commerce Bancshares’s payout ratio is 28.13%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CBSH. V Square Quantitative Management LLC purchased a new stake in shares of Commerce Bancshares in the 3rd quarter worth about $26,000. Allworth Financial LP raised its position in Commerce Bancshares by 51.1% during the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 192 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Commerce Bancshares during the third quarter worth about $39,000. True Wealth Design LLC purchased a new stake in shares of Commerce Bancshares in the third quarter valued at about $47,000. Finally, Farther Finance Advisors LLC grew its position in shares of Commerce Bancshares by 48.2% in the third quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 287 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on CBSH shares. Morgan Stanley downgraded Commerce Bancshares from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $66.00 to $64.00 in a research note on Monday, September 30th. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Raymond James downgraded shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday. Piper Sandler set a $68.50 price target on shares of Commerce Bancshares and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Keefe, Bruyette & Woods boosted their target price on Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Eight investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, Commerce Bancshares has a consensus rating of “Hold” and an average target price of $65.07.

Commerce Bancshares Company Profile

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.