Commerce Bancshares, Inc. (NASDAQ:CBSH) VP David L. Orf Sells 1,036 Shares

Commerce Bancshares, Inc. (NASDAQ:CBSH) VP David L. Orf sold 1,036 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $68.24, for a total transaction of $70,696.64. Following the completion of the sale, the vice president now directly owns 22,175 shares of the company’s stock, valued at $1,513,222. The trade was a 4.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Commerce Bancshares Trading Up 0.3 %

CBSH stock traded up $0.23 during mid-day trading on Thursday, reaching $68.59. 372,045 shares of the stock traded hands, compared to its average volume of 538,177. Commerce Bancshares, Inc. has a 52-week low of $47.09 and a 52-week high of $72.75. The company has a market cap of $8.80 billion, a P/E ratio of 17.10, a P/E/G ratio of 2.21 and a beta of 0.80. The stock’s fifty day moving average is $65.60 and its 200-day moving average is $64.13.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. The company had revenue of $422.10 million during the quarter, compared to analyst estimates 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 in the prior year, the firm earned $0.84 earnings per share. Equities research analysts expect that Commerce Bancshares, Inc. will post 3.9 earnings per share for the current year.

Commerce Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.60%. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, March 7th. Commerce Bancshares’s dividend payout ratio is 26.93%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Commerce Bancshares

A number of hedge funds have recently made changes to their positions in CBSH. Cetera Investment Advisers lifted its position in shares of Commerce Bancshares by 77.1% in the second quarter. Cetera Investment Advisers now owns 56,441 shares of the financial services provider’s stock worth $3,148,000 after purchasing an additional 24,569 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Commerce Bancshares during the second quarter valued at approximately $1,755,000. Handelsbanken Fonder AB raised its position in Commerce Bancshares by 9.6% during the third quarter. Handelsbanken Fonder AB now owns 29,628 shares of the financial services provider’s stock valued at $1,760,000 after acquiring an additional 2,600 shares in the last quarter. Fulton Bank N.A. raised its position in Commerce Bancshares by 5.8% during the third quarter. Fulton Bank N.A. now owns 6,534 shares of the financial services provider’s stock valued at $388,000 after acquiring an additional 359 shares in the last quarter. Finally, CWM LLC raised its position in Commerce Bancshares by 0.8% during the third quarter. CWM LLC now owns 131,524 shares of the financial services provider’s stock valued at $7,813,000 after acquiring an additional 1,004 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

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.