Commerce Bancshares, Inc. (NASDAQ:CBSH) EVP Kevin G. Barth Sells 1,582 Shares

Commerce Bancshares, Inc. (NASDAQ:CBSH) EVP Kevin G. Barth sold 1,582 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $67.54, for a total transaction of $106,848.28. Following the sale, the executive vice president now directly owns 65,409 shares in the company, valued at $4,417,723.86. This trade represents a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Commerce Bancshares Trading Down 1.5 %

CBSH traded down $0.98 on Thursday, hitting $62.89. 819,682 shares of the stock traded hands, compared to its average volume of 555,054. The firm has a market capitalization of $8.06 billion, a PE ratio of 16.38, a P/E/G ratio of 2.92 and a beta of 0.77. Commerce Bancshares, Inc. has a 52 week low of $47.09 and a 52 week high of $72.75. The business has a fifty day moving average price of $67.09 and a two-hundred day moving average price of $62.07.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $1.00 by $0.07. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. The business had revenue of $421.38 million during the quarter, compared to the consensus estimate of $412.85 million. On average, equities research analysts forecast that Commerce Bancshares, Inc. will post 3.95 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd were paid a $0.27 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $1.08 annualized dividend and a dividend yield of 1.72%. Commerce Bancshares’s dividend payout ratio is presently 28.13%.

Hedge Funds Weigh In On Commerce Bancshares

Several institutional investors have recently bought and sold shares of CBSH. Cambridge Investment Research Advisors Inc. boosted its position in Commerce Bancshares by 0.5% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 30,906 shares of the financial services provider’s stock valued at $1,724,000 after buying an additional 154 shares during the last quarter. Sound Stewardship LLC lifted its stake in shares of Commerce Bancshares by 3.9% during the third quarter. Sound Stewardship LLC now owns 4,339 shares of the financial services provider’s stock valued at $258,000 after acquiring an additional 163 shares during the period. Allworth Financial LP boosted its holdings 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. Outlook Wealth Advisors LLC increased its position in Commerce Bancshares by 3.6% in the third quarter. Outlook Wealth Advisors LLC now owns 6,303 shares of the financial services provider’s stock worth $374,000 after purchasing an additional 217 shares during the period. Finally, Marshall Financial Group LLC raised its holdings in Commerce Bancshares by 1.2% during the 3rd quarter. Marshall Financial Group LLC now owns 18,257 shares of the financial services provider’s stock worth $1,084,000 after purchasing an additional 223 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CBSH shares. Piper Sandler set a $68.50 price objective on Commerce Bancshares and gave the stock a “neutral” rating in a research note on Friday, October 18th. Raymond James cut Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday. Morgan Stanley cut Commerce Bancshares from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $66.00 to $64.00 in a report on Monday, September 30th. Keefe, Bruyette & Woods upped their price objective on shares of Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Eight equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Commerce Bancshares currently has an average rating of “Hold” and an average price target of $65.07.

About Commerce Bancshares

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.