Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Michael J. Petrie sold 617 shares of Commerce Bancshares stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $58.95, for a total transaction of $36,372.15. Following the sale, the senior vice president now directly owns 10,427 shares of the company’s stock, valued at $614,671.65. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of Commerce Bancshares, Inc. (NASDAQ CBSH) traded down $0.97 during trading hours on Friday, hitting $57.90. 519,900 shares of the stock were exchanged, compared to its average volume of 467,395. Commerce Bancshares, Inc. has a 1-year low of $51.90 and a 1-year high of $60.61. The stock has a market capitalization of $6,276.42, a PE ratio of 19.98, a price-to-earnings-growth ratio of 2.21 and a beta of 0.77.
Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, January 18th. The financial services provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. Commerce Bancshares had a net margin of 25.27% and a return on equity of 12.22%. The business had revenue of $314.22 million during the quarter, compared to analysts’ expectations of $312.98 million. analysts anticipate that Commerce Bancshares, Inc. will post 3.36 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 26th. Stockholders of record on Friday, March 9th will be issued a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.62%. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, March 8th. Commerce Bancshares’s dividend payout ratio is presently 31.05%.
Several large investors have recently made changes to their positions in the company. Xact Kapitalforvaltning AB purchased a new stake in shares of Commerce Bancshares in the fourth quarter valued at about $423,000. Paragon Capital Management LLC increased its stake in shares of Commerce Bancshares by 5.0% during the fourth quarter. Paragon Capital Management LLC now owns 98,454 shares of the financial services provider’s stock worth $5,497,000 after acquiring an additional 4,687 shares during the period. MetLife Investment Advisors LLC acquired a new position in shares of Commerce Bancshares during the fourth quarter worth about $3,318,000. Municipal Employees Retirement System of Michigan increased its stake in shares of Commerce Bancshares by 5.2% during the fourth quarter. Municipal Employees Retirement System of Michigan now owns 28,447 shares of the financial services provider’s stock worth $1,589,000 after acquiring an additional 1,404 shares during the period. Finally, Glenmede Trust Co. NA increased its stake in shares of Commerce Bancshares by 10.9% during the fourth quarter. Glenmede Trust Co. NA now owns 14,441 shares of the financial services provider’s stock worth $806,000 after acquiring an additional 1,420 shares during the period. 60.60% of the stock is owned by institutional investors and hedge funds.
CBSH has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. BidaskClub cut shares of Commerce Bancshares from a “sell” rating to a “strong sell” rating in a research report on Saturday, December 16th. Barclays reissued a “hold” rating and issued a $55.00 price target on shares of Commerce Bancshares in a research report on Sunday, December 24th. Piper Jaffray Companies reissued a “hold” rating and issued a $58.00 price target on shares of Commerce Bancshares in a research report on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods reissued a “sell” rating and issued a $54.00 price target on shares of Commerce Bancshares in a research report on Friday, January 19th. Four research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $57.13.
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Commerce Bancshares Company Profile
Commerce Bancshares, Inc is a bank holding company of Commerce Bank (the Bank). The Bank is engaged in general banking business, providing a range of retail, mortgage banking, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.
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