Commerce Bancshares, Inc. (CBSH) VP Sells $62,075.50 in Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) VP Daniel D. Callahan sold 1,090 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $56.95, for a total transaction of $62,075.50. Following the sale, the vice president now directly owns 32,822 shares in the company, valued at approximately $1,869,212.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Commerce Bancshares, Inc. (NASDAQ:CBSH) opened at $59.13 on Friday. The stock has a market cap of $6,295.62, a P/E ratio of 21.26, a PEG ratio of 2.21 and a beta of 0.77. Commerce Bancshares, Inc. has a 52 week low of $51.90 and a 52 week high of $60.61.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Thursday, January 18th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.03. The firm had revenue of $314.22 million for the quarter, compared to the consensus estimate of $312.98 million. Commerce Bancshares had a net margin of 25.27% and a return on equity of 12.22%. equities analysts expect that Commerce Bancshares, Inc. will post 3.36 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 26th. Stockholders of record on Friday, March 9th will be issued a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a dividend yield of 1.59%. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, March 8th. Commerce Bancshares’s payout ratio is presently 31.05%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Commerce Bancshares by 6.2% during the fourth quarter. BlackRock Inc. now owns 8,217,981 shares of the financial services provider’s stock valued at $458,894,000 after purchasing an additional 481,612 shares during the last quarter. Commerce Bank raised its holdings in shares of Commerce Bancshares by 4.6% during the fourth quarter. Commerce Bank now owns 7,369,241 shares of the financial services provider’s stock valued at $411,498,000 after purchasing an additional 325,364 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Commerce Bancshares by 11.3% during the fourth quarter. American Century Companies Inc. now owns 3,643,390 shares of the financial services provider’s stock valued at $203,447,000 after purchasing an additional 369,008 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of Commerce Bancshares by 11.3% during the fourth quarter. Lazard Asset Management LLC now owns 1,637,293 shares of the financial services provider’s stock valued at $91,425,000 after purchasing an additional 165,690 shares during the last quarter. Finally, Schroder Investment Management Group raised its holdings in shares of Commerce Bancshares by 49.9% during the fourth quarter. Schroder Investment Management Group now owns 1,266,154 shares of the financial services provider’s stock valued at $70,702,000 after purchasing an additional 421,526 shares during the last quarter. 59.77% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts recently commented on the stock. Zacks Investment Research lowered shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Barclays reiterated a “hold” rating and issued a $55.00 target price on shares of Commerce Bancshares in a research note on Sunday, December 24th. BidaskClub upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. Piper Jaffray Companies reiterated a “hold” rating and issued a $58.00 target price on shares of Commerce Bancshares in a research note on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods reiterated a “sell” rating and issued a $54.00 target price on shares of Commerce Bancshares in a research note on Friday, January 19th. Four equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Commerce Bancshares presently has an average rating of “Hold” and a consensus target price of $57.13.

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Commerce Bancshares Company Profile

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.

Insider Buying and Selling by Quarter for Commerce Bancshares (NASDAQ:CBSH)

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