Commerce Bancshares (NASDAQ:CBSH) SVP Douglas Neff Sells 666 Shares

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Douglas Neff sold 666 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $58.15, for a total value of $38,727.90. Following the sale, the senior vice president directly owned 11,746 shares in the company, valued at $683,029.90. This trade represents a 5.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Commerce Bancshares Stock Down 0.6%

NASDAQ CBSH opened at $57.71 on Tuesday. The stock has a 50 day moving average price of $58.69 and a 200-day moving average price of $53.99. Commerce Bancshares, Inc. has a one year low of $46.99 and a one year high of $60.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $8.28 billion, a P/E ratio of 13.97, a P/E/G ratio of 2.06 and a beta of 0.59.

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

Commerce Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Friday, September 4th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, September 4th. Commerce Bancshares’s dividend payout ratio (DPR) is presently 26.63%.

Wall Street Analysts Forecast Growth

CBSH has been the topic of several recent research reports. Raymond James Financial upgraded shares of Commerce Bancshares to a “hold” rating in a research report on Thursday, August 27th. TD Cowen reiterated a “hold” rating and issued a $63.00 price target (up from $62.00) on shares of Commerce Bancshares in a research report on Friday, July 17th. Morgan Stanley reissued a “positive” rating and set a $65.00 price objective (up from $61.00) on shares of Commerce Bancshares in a research note on Monday, June 29th. Stephens set a $64.00 price objective on Commerce Bancshares and gave the company an “equal weight” rating in a research report on Friday, July 17th. Finally, Keefe, Bruyette & Woods lifted their target price on Commerce Bancshares from $60.00 to $62.00 and gave the stock a “market perform” rating in a report on Monday, July 20th. Three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $63.29.

Hedge Funds Weigh In On Commerce Bancshares

Several hedge funds have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. lifted its stake in Commerce Bancshares by 85.4% in the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 216 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Commerce Bancshares by 2.0% in the second quarter. Invesco Ltd. now owns 865,052 shares of the financial services provider’s stock worth $53,780,000 after buying an additional 16,610 shares during the period. Cresset Asset Management LLC lifted its stake in shares of Commerce Bancshares by 3.0% during the 2nd quarter. Cresset Asset Management LLC now owns 10,151 shares of the financial services provider’s stock worth $631,000 after acquiring an additional 300 shares during the last quarter. Jump Financial LLC purchased a new position in Commerce Bancshares during the 2nd quarter valued at $376,000. Finally, California Public Employees Retirement System boosted its holdings in Commerce Bancshares by 4.8% during the 2nd quarter. California Public Employees Retirement System now owns 208,148 shares of the financial services provider’s stock valued at $12,941,000 after acquiring an additional 9,483 shares during the period. 70.26% of the stock is currently owned by institutional investors.

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.