Commerce Bancshares (NASDAQ:CBSH) Director Sells 200 Shares of Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) Director June Mcallister Fowler sold 200 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $55.03, for a total transaction of $11,006.00. Following the transaction, the director owned 6,233 shares in the company, valued at approximately $343,001.99. This trade represents a 3.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Commerce Bancshares Stock Performance

Shares of Commerce Bancshares stock traded up $0.13 during midday trading on Thursday, reaching $54.85. 678,168 shares of the company’s stock traded hands, compared to its average volume of 1,279,294. The company has a market cap of $8.00 billion, a price-to-earnings ratio of 13.16, a price-to-earnings-growth ratio of 3.75 and a beta of 0.60. The company’s 50 day simple moving average is $52.00 and its 200 day simple moving average is $52.05. Commerce Bancshares, Inc. has a 52 week low of $46.99 and a 52 week high of $63.19.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.02. The business had revenue of $475.69 million during the quarter, compared to analyst estimates of $481.94 million. Commerce Bancshares had a net margin of 26.37% and a return on equity of 14.78%. Commerce Bancshares’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.98 EPS. As a group, equities research analysts predict that Commerce Bancshares, Inc. will post 4.12 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, June 5th. Commerce Bancshares’s dividend payout ratio (DPR) is 26.38%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CBSH. Daytona Street Capital LLC acquired a new stake in shares of Commerce Bancshares in the fourth quarter valued at about $25,000. Danske Bank A S bought a new position in shares of Commerce Bancshares in the third quarter worth about $25,000. Geneos Wealth Management Inc. lifted its position in shares of Commerce Bancshares by 85.4% during the 1st 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. Root Financial Partners LLC lifted its position in shares of Commerce Bancshares by 104.9% during the 1st quarter. Root Financial Partners LLC now owns 623 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 319 shares during the last quarter. Finally, Laurel Wealth Advisors LLC bought a new stake in Commerce Bancshares during the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CBSH. Wells Fargo & Company decreased their price target on Commerce Bancshares from $60.00 to $53.00 and set an “equal weight” rating for the company in a research note on Monday, March 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Commerce Bancshares in a research note on Friday, March 27th. Wall Street Zen lowered Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Zacks Research raised Commerce Bancshares from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Finally, TD Cowen reiterated a “hold” rating and set a $54.00 price target (up from $53.00) on shares of Commerce Bancshares in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $59.30.

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.