Commerce Bancshares, Inc. (NASDAQ:CBSH) insider Jeffrey M. Burik sold 850 shares of the business’s stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $60.97, for a total value of $51,824.50. Following the completion of the sale, the insider now directly owns 30,055 shares of the company’s stock, valued at approximately $1,832,453.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Commerce Bancshares, Inc. (CBSH) traded up $0.35 on Friday, reaching $61.49. The company had a trading volume of 1,762,075 shares, compared to its average volume of 430,697. Commerce Bancshares, Inc. has a 12-month low of $51.90 and a 12-month high of $61.83. The firm has a market cap of $6,572.79, a price-to-earnings ratio of 22.13, a P/E/G ratio of 2.31 and a beta of 0.76.
Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, January 18th. The financial services provider reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.03. Commerce Bancshares had a return on equity of 12.22% and a net margin of 25.27%. The firm had revenue of $314.22 million during the quarter, compared to analyst estimates of $312.98 million. sell-side analysts predict that Commerce Bancshares, Inc. will post 3.36 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, March 26th. Investors of record on Friday, March 9th will be issued a $0.235 dividend. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.23. This represents a $0.94 annualized dividend and a yield of 1.53%. The ex-dividend date is Thursday, March 8th. Commerce Bancshares’s payout ratio is 32.44%.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its holdings in shares of Commerce Bancshares by 3.4% during the third quarter. Bank of New York Mellon Corp now owns 1,083,851 shares of the financial services provider’s stock worth $62,613,000 after buying an additional 35,361 shares during the last quarter. Bank of The Ozarks lifted its holdings in shares of Commerce Bancshares by 5.4% during the fourth quarter. Bank of The Ozarks now owns 21,101 shares of the financial services provider’s stock worth $1,178,000 after buying an additional 1,074 shares during the last quarter. Nuance Investments LLC lifted its holdings in shares of Commerce Bancshares by 4.3% during the third quarter. Nuance Investments LLC now owns 996,414 shares of the financial services provider’s stock worth $57,563,000 after buying an additional 40,997 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of Commerce Bancshares during the third quarter worth approximately $478,000. Finally, Schroder Investment Management Group lifted its holdings in shares of Commerce Bancshares by 1.5% during the third quarter. Schroder Investment Management Group now owns 844,628 shares of the financial services provider’s stock worth $48,491,000 after buying an additional 12,843 shares during the last quarter. Hedge funds and other institutional investors own 62.78% of the company’s stock.
Several brokerages recently commented on CBSH. BidaskClub raised Commerce Bancshares from a “hold” rating to a “buy” rating in a research note on Thursday. Keefe, Bruyette & Woods upgraded Commerce Bancshares from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $54.00 to $60.00 in a report on Tuesday, February 27th. Zacks Investment Research lowered Commerce Bancshares from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. Barclays restated a “hold” rating and issued a $63.00 target price on shares of Commerce Bancshares in a report on Sunday, January 21st. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $58.00 target price on shares of Commerce Bancshares in a report on Tuesday, January 9th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $57.88.
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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.
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