Insider Selling: Commerce Bancshares (NASDAQ:CBSH) SVP Sells 949 Shares of Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Kim Jakovich sold 949 shares of the company’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $51.45, for a total transaction of $48,826.05. Following the sale, the senior vice president owned 12,741 shares of the company’s stock, valued at $655,524.45. This represents a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Commerce Bancshares Price Performance

CBSH stock traded down $0.76 during trading on Monday, reaching $49.60. The company had a trading volume of 1,489,137 shares, compared to its average volume of 1,357,236. The company has a market cap of $7.29 billion, a P/E ratio of 11.84, a PEG ratio of 2.53 and a beta of 0.61. The business has a 50 day moving average of $53.30 and a 200 day moving average of $53.73. Commerce Bancshares, Inc. has a 52 week low of $48.58 and a 52 week high of $63.19.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Thursday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.02. Commerce Bancshares had a net margin of 26.51% and a return on equity of 15.34%. The firm had revenue of $449.36 million during the quarter, compared to analyst estimates of $442.47 million. During the same period last year, the business earned $1.01 earnings per share. The business’s revenue was up 6.5% on a year-over-year basis. Research analysts expect that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Friday, March 6th will be paid a dividend of $0.275 per share. The ex-dividend date is Friday, March 6th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.2%. Commerce Bancshares’s payout ratio is 26.25%.

Institutional Investors Weigh In On Commerce Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the company. Hsbc Holdings PLC boosted its position in shares of Commerce Bancshares by 231.1% in the 4th quarter. Hsbc Holdings PLC now owns 245,229 shares of the financial services provider’s stock valued at $12,871,000 after purchasing an additional 171,159 shares during the period. Waterford Advisors LLC purchased a new stake in shares of Commerce Bancshares during the 4th quarter worth approximately $2,577,000. Invesco Ltd. increased its holdings in Commerce Bancshares by 12.1% during the 4th quarter. Invesco Ltd. now owns 404,232 shares of the financial services provider’s stock valued at $21,157,000 after acquiring an additional 43,608 shares in the last quarter. Axxcess Wealth Management LLC raised its holdings in shares of Commerce Bancshares by 5.5% in the fourth quarter. Axxcess Wealth Management LLC now owns 13,921 shares of the financial services provider’s stock worth $729,000 after acquiring an additional 727 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its stake in shares of Commerce Bancshares by 3.5% during the fourth quarter. Corient Private Wealth LLC now owns 13,356 shares of the financial services provider’s stock valued at $683,000 after buying an additional 449 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. TD Cowen dropped their target price on Commerce Bancshares from $61.00 to $55.00 and set a “hold” rating for the company in a report on Wednesday, January 7th. Piper Sandler set a $62.00 price target on Commerce Bancshares and gave the stock a “neutral” rating in a research report on Monday, January 26th. Zacks Research upgraded Commerce Bancshares from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Morgan Stanley cut their price target on shares of Commerce Bancshares from $67.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Monday, March 2nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Commerce Bancshares in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.51.

About Commerce Bancshares

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.