Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP David L. Roller Sells 890 Shares

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP David L. Roller sold 890 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $72.27, for a total transaction of $64,320.30. Following the transaction, the senior vice president now owns 30,949 shares of the company’s stock, valued at $2,236,684.23. This trade represents a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Commerce Bancshares Price Performance

Commerce Bancshares stock opened at $70.97 on Thursday. Commerce Bancshares, Inc. has a 12 month low of $46.72 and a 12 month high of $73.31. The company has a market cap of $9.10 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 3.87 and a beta of 0.73. The stock’s 50-day moving average is $63.07 and its 200-day moving average is $60.10.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $1.00 by $0.07. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. The firm had revenue of $421.38 million for the quarter, compared to analyst estimates of $412.85 million. Research analysts anticipate that Commerce Bancshares, Inc. will post 4.02 EPS for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.52%. Commerce Bancshares’s dividend payout ratio (DPR) is 28.13%.

Hedge Funds Weigh In On Commerce Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new position in shares of Commerce Bancshares during the third quarter worth $566,000. Coldstream Capital Management Inc. lifted its holdings in Commerce Bancshares by 3.7% in the 3rd quarter. Coldstream Capital Management Inc. now owns 37,654 shares of the financial services provider’s stock worth $2,237,000 after buying an additional 1,333 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Commerce Bancshares by 7.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,396,740 shares of the financial services provider’s stock worth $142,951,000 after buying an additional 163,782 shares in the last quarter. M&T Bank Corp boosted its position in Commerce Bancshares by 0.6% in the 3rd quarter. M&T Bank Corp now owns 63,756 shares of the financial services provider’s stock valued at $3,787,000 after buying an additional 372 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Commerce Bancshares by 19.4% during the third quarter. Barclays PLC now owns 106,934 shares of the financial services provider’s stock valued at $6,353,000 after acquiring an additional 17,400 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CBSH shares. Piper Sandler set a $68.50 price objective on Commerce Bancshares and gave the company a “neutral” rating in a research report on Friday, October 18th. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, Morgan Stanley lowered Commerce Bancshares from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $66.00 to $64.00 in a research note on Monday, September 30th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $61.79.

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.