Douglas Neff Sells 666 Shares of Commerce Bancshares (NASDAQ:CBSH) Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Douglas Neff sold 666 shares of Commerce Bancshares stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $58.15, for a total transaction of $38,727.90. Following the completion of the sale, the senior vice president owned 11,746 shares of the company’s stock, valued at $683,029.90. This trade represents a 5.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Commerce Bancshares Stock Performance

NASDAQ CBSH opened at $57.14 on Wednesday. The firm has a 50-day moving average price of $58.72 and a two-hundred day moving average price of $54.01. Commerce Bancshares, Inc. has a 12-month low of $46.99 and a 12-month high of $60.92. The company has a market capitalization of $8.20 billion, a P/E ratio of 13.84, a P/E/G ratio of 2.06 and a beta of 0.58. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.01.

Commerce Bancshares (NASDAQ:CBSH) last announced its 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. Commerce Bancshares had a net margin of 26.07% and a return on equity of 14.31%. The company had revenue of $498.91 million for the quarter, compared to analysts’ expectations of $492.22 million. During the same period last year, the firm earned $1.14 earnings per share. Analysts anticipate that Commerce Bancshares, Inc. will post 4.23 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Friday, September 4th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.10 dividend on an annualized basis and a yield of 1.9%. Commerce Bancshares’s dividend payout ratio is currently 26.63%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Morgan Stanley reiterated a “positive” rating and set a $65.00 target price (up from $61.00) on shares of Commerce Bancshares in a research report on Monday, June 29th. Piper Sandler restated a “neutral” rating and issued a $66.00 price target (up from $59.00) on shares of Commerce Bancshares in a research report on Friday, July 17th. Wells Fargo & Company set a $63.00 price target on Commerce Bancshares and gave the company an “equal weight” rating in a research note on Monday, August 10th. Weiss Ratings raised shares of Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, July 21st. Finally, Raymond James Financial upgraded shares of Commerce Bancshares to a “hold” rating in a research note on Thursday, August 27th. Three research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $63.29.

Institutional Investors Weigh In On Commerce Bancshares

A number of large investors have recently modified their holdings of CBSH. Danske Bank A S acquired a new position in shares of Commerce Bancshares during the 3rd quarter worth $25,000. Geneos Wealth Management Inc. boosted its stake in Commerce Bancshares by 85.4% in the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock valued at $29,000 after buying an additional 216 shares in the last quarter. Keating Financial Advisory Services Inc. bought a new position in Commerce Bancshares in the second quarter valued at about $29,000. Root Financial Partners LLC grew its position in Commerce Bancshares by 104.9% in the first quarter. Root Financial Partners LLC now owns 623 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 319 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in Commerce Bancshares during the second quarter worth about $59,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Commerce Bancshares Company Profile

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.