Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP David L. Roller Sells 890 Shares

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP David L. Roller sold 890 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $72.27, for a total transaction of $64,320.30. Following the completion of the transaction, the senior vice president now owns 30,949 shares in the company, valued at $2,236,684.23. This represents a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Commerce Bancshares Price Performance

Shares of NASDAQ CBSH opened at $70.97 on Thursday. The company has a market cap of $9.10 billion, a PE ratio of 18.48, a P/E/G ratio of 3.87 and a beta of 0.73. The stock has a fifty day moving average price of $63.07 and a 200 day moving average price of $60.10. Commerce Bancshares, Inc. has a 1-year low of $46.72 and a 1-year high of $73.31.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.07. The business had revenue of $421.38 million for 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%. Analysts anticipate that Commerce Bancshares, Inc. will post 4.02 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Tuesday, December 3rd. Commerce Bancshares’s dividend payout ratio (DPR) is 28.13%.

Institutional Trading of Commerce Bancshares

Hedge funds have recently modified their holdings of the business. Los Angeles Capital Management LLC boosted its holdings in Commerce Bancshares by 7,407.2% during the third quarter. Los Angeles Capital Management LLC now owns 362,900 shares of the financial services provider’s stock worth $21,556,000 after buying an additional 358,066 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Commerce Bancshares by 19.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,069,924 shares of the financial services provider’s stock valued at $115,453,000 after buying an additional 342,793 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Commerce Bancshares by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 12,631,645 shares of the financial services provider’s stock valued at $672,004,000 after acquiring an additional 259,127 shares during the period. American Century Companies Inc. boosted its stake in shares of Commerce Bancshares by 7.4% during the 2nd quarter. American Century Companies Inc. now owns 3,509,796 shares of the financial services provider’s stock worth $195,776,000 after acquiring an additional 240,938 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Commerce Bancshares by 168.3% in the 2nd quarter. Millennium Management LLC now owns 342,084 shares of the financial services provider’s stock worth $19,081,000 after acquiring an additional 214,582 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CBSH. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Morgan Stanley downgraded Commerce Bancshares from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $66.00 to $64.00 in a research note on Monday, September 30th. Finally, Piper Sandler set a $68.50 price target on Commerce Bancshares and gave the stock a “neutral” rating in a research report on Friday, October 18th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Commerce Bancshares has a consensus rating of “Hold” and a consensus target price of $61.79.

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.