Commerce Bancshares (NASDAQ:CBSH) VP David Orf Sells 642 Shares of Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) VP David Orf sold 642 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $60.35, for a total value of $38,744.70. Following the transaction, the vice president owned 24,962 shares of the company’s stock, valued at approximately $1,506,456.70. This trade represents a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Commerce Bancshares Price Performance

CBSH opened at $59.56 on Wednesday. The company has a market capitalization of $8.54 billion, a P/E ratio of 14.42, a PEG ratio of 2.14 and a beta of 0.59. The company has a 50-day moving average of $58.08 and a 200-day moving average of $53.72. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.82 and a current ratio of 0.82. Commerce Bancshares, Inc. has a 1-year low of $46.99 and a 1-year high of $60.92.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $1.04 by $0.06. The business had revenue of $498.91 million for the quarter, compared to analysts’ expectations of $492.22 million. Commerce Bancshares had a net margin of 26.07% and a return on equity of 14.31%. During the same quarter last year, the company posted $1.14 earnings per share. Equities analysts expect that Commerce Bancshares, Inc. will post 4.25 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Friday, September 4th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, September 4th. Commerce Bancshares’s dividend payout ratio (DPR) is currently 26.63%.

Institutional Trading of Commerce Bancshares

Several hedge funds have recently bought and sold shares of the company. Danske Bank A S acquired a new stake in shares of Commerce Bancshares in the third quarter valued at approximately $25,000. Keating Financial Advisory Services Inc. acquired a new position in shares of Commerce Bancshares during the second quarter worth approximately $29,000. Geneos Wealth Management Inc. boosted its position in shares of Commerce Bancshares by 85.4% during the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after buying an additional 216 shares during the period. Root Financial Partners LLC grew its holdings in Commerce Bancshares by 104.9% in the 1st quarter. Root Financial Partners LLC now owns 623 shares of the financial services provider’s stock worth $31,000 after buying an additional 319 shares in the last quarter. Finally, Laurel Wealth Advisors LLC acquired a new stake in Commerce Bancshares in the 4th quarter valued at approximately $34,000. 70.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CBSH. TD Cowen reaffirmed a “hold” rating and set a $63.00 price objective (up from $62.00) on shares of Commerce Bancshares in a research report on Friday, July 17th. Morgan Stanley reissued a “positive” rating and issued a $65.00 target price (up from $61.00) on shares of Commerce Bancshares in a report on Monday, June 29th. Piper Sandler restated a “neutral” rating and issued a $66.00 target price (up from $59.00) on shares of Commerce Bancshares in a research note on Friday, July 17th. Weiss Ratings upgraded Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, July 21st. Finally, Keefe, Bruyette & Woods raised their price target on Commerce Bancshares from $60.00 to $62.00 and gave the stock a “market perform” rating in a report on Monday, July 20th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $63.29.

About Commerce Bancshares

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.