Insider Selling: Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Sells $64,024.80 in Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Douglas D. Neff sold 888 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $72.10, for a total value of $64,024.80. Following the sale, the senior vice president now owns 8,038 shares of the company’s stock, valued at approximately $579,539.80. The trade was a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Commerce Bancshares Price Performance

Shares of NASDAQ CBSH opened at $71.57 on Friday. The stock has a market capitalization of $9.18 billion, a P/E ratio of 18.64, a P/E/G ratio of 3.87 and a beta of 0.73. The company’s 50-day moving average is $62.45 and its 200 day moving average is $59.77. Commerce Bancshares, Inc. has a 1 year low of $46.72 and a 1 year high of $73.31.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, topping 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 return on equity of 15.93% and a net margin of 24.15%. Research analysts anticipate that Commerce Bancshares, Inc. will post 4.02 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.08 annualized dividend and a dividend yield of 1.51%. Commerce Bancshares’s payout ratio is 28.13%.

Institutional Trading of Commerce Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in shares of Commerce Bancshares by 7.3% during the third quarter. Geode Capital Management LLC now owns 2,396,740 shares of the financial services provider’s stock valued at $142,951,000 after buying an additional 163,782 shares during the last quarter. M&T Bank Corp raised its position in Commerce Bancshares by 0.6% in the 3rd quarter. M&T Bank Corp now owns 63,756 shares of the financial services provider’s stock worth $3,787,000 after purchasing an additional 372 shares during the period. Barclays PLC raised its holdings in shares of Commerce Bancshares by 19.4% in the third quarter. Barclays PLC now owns 106,934 shares of the financial services provider’s stock worth $6,353,000 after buying an additional 17,400 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Commerce Bancshares during the third quarter valued at $1,967,000. Finally, MML Investors Services LLC boosted its position in Commerce Bancshares by 22.1% in the 3rd quarter. MML Investors Services LLC now owns 9,902 shares of the financial services provider’s stock valued at $588,000 after buying an additional 1,794 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Morgan Stanley lowered Commerce Bancshares from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $66.00 to $64.00 in a research report on Monday, September 30th. Wells Fargo & Company raised their price target 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. Piper Sandler set a $68.50 price objective on Commerce Bancshares and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Commerce Bancshares has a consensus rating of “Hold” and a consensus price target of $61.79.

About Commerce Bancshares

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.