Commerce Bancshares, Inc. (NASDAQ:CBSH) Vice Chairman Jonathan M. Kemper sold 55,000 shares of Commerce Bancshares stock in a transaction on Monday, December 11th. The stock was sold at an average price of $55.06, for a total transaction of $3,028,300.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) traded down $0.68 during trading hours on Thursday, reaching $54.34. 618,487 shares of the company traded hands, compared to its average volume of 391,704. Commerce Bancshares, Inc. has a 12-month low of $51.90 and a 12-month high of $60.61. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.68 and a quick ratio of 0.68. The firm has a market cap of $5,907.71, a price-to-earnings ratio of 20.61, a P/E/G ratio of 3.23 and a beta of 0.80.
Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Thursday, October 12th. The financial services provider reported $0.71 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.03). Commerce Bancshares had a return on equity of 12.08% and a net margin of 23.93%. The company had revenue of $304.83 million for the quarter, compared to analyst estimates of $317.28 million. During the same quarter in the prior year, the business earned $0.68 earnings per share. Commerce Bancshares’s revenue was up 4.9% compared to the same quarter last year. research analysts anticipate that Commerce Bancshares, Inc. will post 2.77 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 18th. Shareholders of record on Thursday, November 30th will be paid a $0.225 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $0.90 dividend on an annualized basis and a yield of 1.66%. Commerce Bancshares’s dividend payout ratio is presently 33.51%.
Several equities research analysts recently commented on CBSH shares. Zacks Investment Research upgraded shares of Commerce Bancshares from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research note on Friday, October 6th. Piper Jaffray Companies reiterated a “neutral” rating and set a $60.00 price target on shares of Commerce Bancshares in a research note on Friday, October 6th. Finally, Keefe, Bruyette & Woods reiterated a “sell” rating and set a $51.00 price target on shares of Commerce Bancshares in a research note on Friday, September 15th. Six equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Commerce Bancshares presently has an average rating of “Sell” and a consensus price target of $56.63.
A number of hedge funds and other institutional investors have recently bought and sold shares of CBSH. Public Employees Retirement Association of Colorado increased its stake in Commerce Bancshares by 0.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 12,520 shares of the financial services provider’s stock valued at $712,000 after purchasing an additional 42 shares during the period. Janney Montgomery Scott LLC increased its stake in Commerce Bancshares by 13.7% in the second quarter. Janney Montgomery Scott LLC now owns 5,471 shares of the financial services provider’s stock valued at $311,000 after purchasing an additional 660 shares during the period. Great West Life Assurance Co. Can increased its stake in Commerce Bancshares by 0.4% in the second quarter. Great West Life Assurance Co. Can now owns 71,530 shares of the financial services provider’s stock valued at $4,060,000 after purchasing an additional 265 shares during the period. World Asset Management Inc increased its stake in Commerce Bancshares by 2.8% in the second quarter. World Asset Management Inc now owns 5,568 shares of the financial services provider’s stock valued at $316,000 after purchasing an additional 150 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in Commerce Bancshares by 1.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 468,110 shares of the financial services provider’s stock valued at $26,603,000 after purchasing an additional 8,179 shares during the period. Institutional investors own 59.15% of the company’s stock.
TRADEMARK VIOLATION WARNING: This piece was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another domain, it was stolen and reposted in violation of US and international copyright and trademark law. The original version of this piece can be accessed at https://ledgergazette.com/2017/12/14/commerce-bancshares-inc-cbsh-vice-chairman-jonathan-m-kemper-sells-55000-shares-of-stock.html.
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, mortgage banking, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.
Receive News & Ratings for Commerce Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commerce Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.