Insider Selling: Commerce Bancshares, Inc. (NASDAQ:CBSH) Director Sells 19,626 Shares of Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) Director Jonathan M. Kemper sold 19,626 shares of Commerce Bancshares stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $63.66, for a total value of $1,249,391.16. Following the transaction, the director now owns 997,112 shares in the company, valued at approximately $63,476,149.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Commerce Bancshares Stock Up 1.3 %

NASDAQ:CBSH opened at $65.08 on Friday. Commerce Bancshares, Inc. has a 52 week low of $40.91 and a 52 week high of $65.83. The stock’s fifty day moving average is $56.53 and its two-hundred day moving average is $54.27. The stock has a market capitalization of $8.43 billion, a price-to-earnings ratio of 18.13 and a beta of 0.76.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.17. Commerce Bancshares had a return on equity of 16.50% and a net margin of 23.62%. The firm had revenue of $414.90 million for the quarter, compared to the consensus estimate of $406.88 million. During the same quarter in the previous year, the business earned $0.97 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, sell-side analysts expect that Commerce Bancshares, Inc. will post 3.77 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Thursday, September 5th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.66%. Commerce Bancshares’s dividend payout ratio is presently 30.08%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CBSH. Eagle Bay Advisors LLC lifted its holdings in Commerce Bancshares by 2,864.7% during the 2nd quarter. Eagle Bay Advisors LLC now owns 1,008 shares of the financial services provider’s stock worth $56,000 after buying an additional 974 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Commerce Bancshares by 0.5% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 30,906 shares of the financial services provider’s stock worth $1,724,000 after acquiring an additional 154 shares during the period. &PARTNERS acquired a new stake in shares of Commerce Bancshares in the second quarter valued at $396,000. Elser Financial Planning Inc purchased a new position in Commerce Bancshares in the second quarter valued at $229,000. Finally, Fifth Third Wealth Advisors LLC acquired a new position in Commerce Bancshares during the 2nd quarter worth $197,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

CBSH has been the topic of a number of analyst reports. Morgan Stanley lifted their target price on shares of Commerce Bancshares from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, April 17th. Piper Sandler increased their price objective on Commerce Bancshares from $53.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Raymond James upgraded Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 target price on the stock in a research report on Wednesday, April 17th. Finally, Wells Fargo & Company upped their price target on Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $58.86.

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.