John K. Handy Sells 4,844 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) EVP John K. Handy sold 4,844 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $67.25, for a total transaction of $325,759.00. Following the transaction, the executive vice president now directly owns 40,655 shares of the company’s stock, valued at approximately $2,734,048.75. This represents a 10.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Commerce Bancshares Stock Performance

Shares of CBSH opened at $67.65 on Friday. The firm has a market cap of $8.67 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 2.21 and a beta of 0.80. Commerce Bancshares, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $72.75. The firm has a 50 day moving average price of $65.37 and a 200-day moving average price of $64.19.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. The firm had revenue of $422.10 million during the quarter, compared to analyst estimates of $417.48 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 EPS. As a group, equities research analysts predict 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. Stockholders of record on Friday, March 7th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.63%. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, March 7th. Commerce Bancshares’s payout ratio is presently 27.43%.

Institutional Investors Weigh In On Commerce Bancshares

Hedge funds have recently made changes to their positions in the business. HighTower Advisors LLC raised its holdings in Commerce Bancshares by 27.6% during the 4th quarter. HighTower Advisors LLC now owns 13,806 shares of the financial services provider’s stock valued at $860,000 after buying an additional 2,990 shares during the last quarter. Warburton Capital Management LLC bought a new stake in Commerce Bancshares during the 4th quarter valued at $303,000. Cooke & Bieler LP raised its holdings in Commerce Bancshares by 0.8% during the 4th quarter. Cooke & Bieler LP now owns 899,166 shares of the financial services provider’s stock valued at $56,027,000 after buying an additional 7,280 shares during the last quarter. Morton Community Bank raised its holdings in Commerce Bancshares by 5.0% during the 4th quarter. Morton Community Bank now owns 6,304 shares of the financial services provider’s stock valued at $393,000 after buying an additional 300 shares during the last quarter. Finally, Isthmus Partners LLC raised its holdings in Commerce Bancshares by 9.6% during the 4th quarter. Isthmus Partners LLC now owns 6,723 shares of the financial services provider’s stock valued at $419,000 after buying an additional 588 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CBSH has been the subject of several recent analyst reports. Raymond James cut shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Wells Fargo & Company boosted their price target on shares of Commerce Bancshares from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Piper Sandler boosted their price target on shares of Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Seven research analysts have rated the stock with a hold rating, According to MarketBeat.com, Commerce Bancshares presently 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.