Commerce Bancshares, Inc. (NASDAQ:CBSH) Short Interest Down 18.2% in August

Commerce Bancshares, Inc. (NASDAQ:CBSH) was the recipient of a large decrease in short interest in August. As of August 31st, there was short interest totalling 1,660,000 shares, a decrease of 18.2% from the August 15th total of 2,030,000 shares. Based on an average trading volume of 575,700 shares, the short-interest ratio is currently 2.9 days.

Commerce Bancshares Price Performance

Shares of NASDAQ CBSH traded up $0.01 during trading hours on Tuesday, hitting $62.27. 382,212 shares of the stock were exchanged, compared to its average volume of 513,035. Commerce Bancshares has a one year low of $40.91 and a one year high of $65.86. The company’s 50 day moving average is $61.86 and its 200 day moving average is $56.77. The firm has a market capitalization of $8.07 billion, a P/E ratio of 17.34, a P/E/G ratio of 10.06 and a beta of 0.75.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results 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 company had revenue of $414.90 million for the quarter, compared to the consensus estimate of $406.88 million. During the same period last year, the business posted $0.97 earnings per share. The firm’s revenue was up 4.5% compared to the same quarter last year. Research analysts anticipate that Commerce Bancshares will post 3.96 earnings per share 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 issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.73%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 30.08%.

Analysts Set New Price Targets

CBSH has been the subject of a number of recent research reports. Jefferies Financial Group raised their price target on Commerce Bancshares from $60.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Wells Fargo & Company raised their price objective on shares of Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. Finally, Morgan Stanley lifted their price objective on shares of Commerce Bancshares from $58.00 to $66.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. 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, the stock has an average rating of “Hold” and a consensus price target of $60.00.

Insider Buying and Selling

In other news, SVP David L. Roller sold 861 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $64.30, for a total value of $55,362.30. Following the transaction, the senior vice president now owns 30,949 shares in the company, valued at approximately $1,990,020.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Commerce Bancshares news, Director Jonathan M. Kemper sold 19,626 shares of Commerce Bancshares stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $63.66, for a total transaction of $1,249,391.16. Following the completion of the sale, the director now owns 997,112 shares of the company’s stock, valued at approximately $63,476,149.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP David L. Roller sold 861 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $64.30, for a total transaction of $55,362.30. Following the completion of the transaction, the senior vice president now directly owns 30,949 shares in the company, valued at $1,990,020.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,612 shares of company stock valued at $3,184,609. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Commerce Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Clarity Asset Management Inc. bought a new stake in Commerce Bancshares in the 4th quarter valued at $43,000. Bessemer Group Inc. lifted its stake in shares of Commerce Bancshares by 86.3% in the first quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock valued at $45,000 after buying an additional 390 shares during the period. GAMMA Investing LLC grew its position in Commerce Bancshares by 156.5% during the second quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock worth $48,000 after buying an additional 521 shares in the last quarter. Eagle Bay Advisors LLC increased its stake in Commerce Bancshares by 2,864.7% during the second quarter. Eagle Bay Advisors LLC now owns 1,008 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 974 shares during the period. Finally, LRI Investments LLC acquired a new position in Commerce Bancshares in the 1st quarter valued at approximately $90,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

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.