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 business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $72.27, for a total transaction of $64,320.30. Following the completion of the transaction, the senior vice president now owns 30,949 shares in the company, valued at approximately $2,236,684.23. The trade was a 2.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Commerce Bancshares Stock Down 0.9 %

CBSH stock traded down $0.63 during midday trading on Wednesday, reaching $70.97. 439,391 shares of the company’s stock traded hands, compared to its average volume of 532,869. The firm’s fifty day moving average price is $62.86 and its 200-day moving average price is $60.02. Commerce Bancshares, Inc. has a 52 week low of $46.72 and a 52 week high of $73.31. The company has a market cap of $9.10 billion, a price-to-earnings ratio of 18.57, a P/E/G ratio of 3.89 and a beta of 0.73.

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

Commerce Bancshares Announces Dividend

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

Analysts Set New Price Targets

CBSH has been the topic of several research analyst reports. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Piper Sandler set a $68.50 price objective on shares of Commerce Bancshares and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Morgan Stanley lowered shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and cut their target price for the stock 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $61.79.

Institutional Trading of Commerce Bancshares

Institutional investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC boosted its holdings in Commerce Bancshares by 7,407.2% during the third quarter. Los Angeles Capital Management LLC now owns 362,900 shares of the financial services provider’s stock worth $21,556,000 after purchasing an additional 358,066 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Commerce Bancshares by 19.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,069,924 shares of the financial services provider’s stock valued at $115,453,000 after purchasing an additional 342,793 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Commerce Bancshares by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 12,631,645 shares of the financial services provider’s stock worth $672,004,000 after buying an additional 259,127 shares during the last quarter. American Century Companies Inc. grew its position in Commerce Bancshares by 7.4% during the second quarter. American Century Companies Inc. now owns 3,509,796 shares of the financial services provider’s stock valued at $195,776,000 after buying an additional 240,938 shares during the period. Finally, Millennium Management LLC increased its holdings in Commerce Bancshares by 168.3% during the second quarter. Millennium Management LLC now owns 342,084 shares of the financial services provider’s stock worth $19,081,000 after buying an additional 214,582 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

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.