David Orf Sells 642 Shares of Commerce Bancshares (NASDAQ:CBSH) Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) VP David Orf sold 642 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $60.35, for a total value of $38,744.70. Following the completion of the sale, the vice president owned 24,962 shares in the company, valued at $1,506,456.70. This represents a 2.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Commerce Bancshares Stock Performance

Shares of CBSH traded down $0.07 during mid-day trading on Tuesday, reaching $59.63. The company’s stock had a trading volume of 414,281 shares, compared to its average volume of 1,252,448. Commerce Bancshares, Inc. has a 1-year low of $46.99 and a 1-year high of $60.92. The stock has a market cap of $8.55 billion, a P/E ratio of 14.45, a PEG ratio of 2.14 and a beta of 0.59. The business has a 50-day simple moving average of $57.97 and a two-hundred day simple moving average of $53.67. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.01.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, July 16th. The financial services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.06. The business had revenue of $498.91 million for the quarter, compared to analyst estimates of $492.22 million. Commerce Bancshares had a return on equity of 14.31% and a net margin of 26.07%.During the same period in the previous year, the firm earned $1.14 EPS. As a group, equities research analysts anticipate that Commerce Bancshares, Inc. will post 4.25 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Friday, September 4th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, September 4th. Commerce Bancshares’s payout ratio is 26.63%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CBSH. Vanguard Group Inc. lifted its holdings in shares of Commerce Bancshares by 8.1% during the fourth quarter. Vanguard Group Inc. now owns 14,690,039 shares of the financial services provider’s stock worth $768,877,000 after buying an additional 1,098,142 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Commerce Bancshares in the second quarter valued at about $755,669,000. State Street Corp increased its position in Commerce Bancshares by 8.4% during the fourth quarter. State Street Corp now owns 7,318,898 shares of the financial services provider’s stock worth $383,071,000 after acquiring an additional 566,853 shares during the period. Commerce Bank increased its position in Commerce Bancshares by 7.0% during the fourth quarter. Commerce Bank now owns 5,660,823 shares of the financial services provider’s stock worth $296,287,000 after acquiring an additional 369,636 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Commerce Bancshares by 29.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,943,247 shares of the financial services provider’s stock worth $193,999,000 after purchasing an additional 894,183 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CBSH shares. Keefe, Bruyette & Woods increased their price objective on shares of Commerce Bancshares from $60.00 to $62.00 and gave the company a “market perform” rating in a research report on Monday, July 20th. Piper Sandler reaffirmed a “neutral” rating and set a $66.00 target price (up from $59.00) on shares of Commerce Bancshares in a report on Friday, July 17th. Hovde Group decreased their price target on shares of Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 22nd. Weiss Ratings raised shares of Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, July 21st. Finally, Wells Fargo & Company set a $63.00 price objective on shares of Commerce Bancshares and gave the stock an “equal weight” rating in a research report on Monday, August 10th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $63.29.

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.