Douglas D. Neff Sells 888 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Douglas D. Neff sold 888 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $72.10, for a total transaction of $64,024.80. Following the completion of the transaction, the senior vice president now owns 8,038 shares in the company, valued at $579,539.80. The trade was a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Commerce Bancshares Stock Down 0.2 %

NASDAQ:CBSH opened at $71.57 on Friday. Commerce Bancshares, Inc. has a 52 week low of $46.72 and a 52 week high of $73.31. The company has a fifty day simple moving average of $62.45 and a two-hundred day simple moving average of $59.74. The company has a market cap of $9.18 billion, a price-to-earnings ratio of 18.64, a price-to-earnings-growth ratio of 3.87 and a beta of 0.73.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.07. The company had revenue of $421.38 million for the quarter, compared to the consensus estimate of $412.85 million. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. On average, analysts expect that Commerce Bancshares, Inc. will post 4.02 EPS for the current year.

Commerce Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Tuesday, December 3rd. Commerce Bancshares’s dividend payout ratio (DPR) is presently 28.13%.

Analyst Ratings Changes

A number of research analysts recently commented on CBSH shares. Morgan Stanley cut Commerce Bancshares from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $66.00 to $64.00 in a report on Monday, September 30th. Piper Sandler set a $68.50 price objective on Commerce Bancshares and gave the stock a “neutral” rating in a research report on Friday, October 18th. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company boosted their price target on shares of Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $61.79.

Institutional Investors Weigh In On Commerce Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in shares of Commerce Bancshares during the 3rd quarter worth approximately $26,000. Allworth Financial LP lifted its position in 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 acquiring an additional 192 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Commerce Bancshares in the third quarter valued at $39,000. True Wealth Design LLC purchased a new position in shares of Commerce Bancshares during the third quarter worth about $47,000. Finally, Bessemer Group Inc. increased its position in shares of Commerce Bancshares by 86.3% during the first quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 390 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

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.