David W. Kemper Sells 3,708 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) Chairman David W. Kemper sold 3,708 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $66.16, for a total value of $245,321.28. Following the sale, the chairman now directly owns 1,208,311 shares in the company, valued at approximately $79,941,855.76. This trade represents a 0.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Commerce Bancshares Stock Performance

Shares of NASDAQ CBSH opened at $68.36 on Thursday. The company has a market capitalization of $8.77 billion, a P/E ratio of 17.05, a price-to-earnings-growth ratio of 2.21 and a beta of 0.80. Commerce Bancshares, Inc. has a 52-week low of $47.09 and a 52-week high of $72.75. The company’s 50 day moving average price is $65.60 and its 200-day moving average price is $64.13.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. The business had revenue of $422.10 million during the quarter, compared to analysts’ expectations of $417.48 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the company posted $0.84 earnings per share. Analysts forecast that Commerce Bancshares, Inc. will post 3.9 earnings per share for the current year.

Commerce Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.10 annualized dividend and a yield of 1.61%. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s dividend payout ratio is presently 26.93%.

Institutional Investors Weigh In On Commerce Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in Commerce Bancshares in the 3rd quarter valued at $26,000. Allworth Financial LP lifted its stake in shares of Commerce Bancshares by 51.1% in the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after buying an additional 192 shares in the last quarter. Marshall Investment Management LLC acquired a new position in shares of Commerce Bancshares during the fourth quarter valued at about $35,000. Capital Performance Advisors LLP bought a new stake in shares of Commerce Bancshares during the third quarter worth about $39,000. Finally, True Wealth Design LLC acquired a new stake in shares of Commerce Bancshares in the 3rd quarter worth about $47,000. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on CBSH shares. Keefe, Bruyette & Woods increased their target price on Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Wells Fargo & Company raised their price objective on shares of Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Raymond James lowered shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Piper Sandler boosted their price objective on shares of Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, According to MarketBeat, Commerce Bancshares has a consensus rating of “Hold” and an average target price of $67.83.

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.