Commerce Bancshares, Inc. (NASDAQ:CBSH) CFO Charles G. Kim Sells 13,493 Shares

Commerce Bancshares, Inc. (NASDAQ:CBSH) CFO Charles G. Kim sold 13,493 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $67.76, for a total value of $914,285.68. Following the completion of the transaction, the chief financial officer now owns 86,246 shares in the company, valued at approximately $5,844,028.96. This trade represents a 13.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Commerce Bancshares Stock Up 0.9 %

Shares of NASDAQ CBSH opened at $67.36 on Wednesday. Commerce Bancshares, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $72.75. The business has a 50 day moving average price of $65.21 and a two-hundred day moving average price of $64.23. The firm has a market cap of $8.64 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 2.27 and a beta of 0.80.

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

Commerce Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Friday, March 7th. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s dividend payout ratio (DPR) is 26.93%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Sound Stewardship LLC grew its position in shares of Commerce Bancshares by 3.9% in the 3rd quarter. Sound Stewardship LLC now owns 4,339 shares of the financial services provider’s stock worth $258,000 after acquiring an additional 163 shares in the last quarter. Atria Wealth Solutions Inc. grew its position in shares of Commerce Bancshares by 1.5% in the 4th quarter. Atria Wealth Solutions Inc. now owns 11,062 shares of the financial services provider’s stock worth $689,000 after acquiring an additional 166 shares in the last quarter. Apriem Advisors grew its position in shares of Commerce Bancshares by 5.0% in the 4th quarter. Apriem Advisors now owns 3,827 shares of the financial services provider’s stock worth $238,000 after acquiring an additional 182 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its holdings in shares of Commerce Bancshares by 4.9% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 3,908 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 183 shares during the last quarter. Finally, Verde Capital Management boosted its position in Commerce Bancshares by 5.4% during the 4th quarter. Verde Capital Management now owns 3,573 shares of the financial services provider’s stock valued at $223,000 after purchasing an additional 183 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

CBSH has been the subject of a number of recent research reports. Wells Fargo & Company increased their target price on Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Raymond James lowered Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. 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 note on Wednesday, December 4th. Piper Sandler increased their target price on Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Finally, StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $67.83.

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.