Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Patricia R. Kellerhals Sells 1,000 Shares

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Patricia R. Kellerhals sold 1,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $67.69, for a total value of $67,690.00. Following the completion of the transaction, the senior vice president now owns 21,265 shares of the company’s stock, valued at $1,439,427.85. This trade represents a 4.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Commerce Bancshares Trading Down 1.5 %

Commerce Bancshares stock opened at $62.89 on Friday. The firm has a market capitalization of $8.06 billion, a price-to-earnings ratio of 16.38, a P/E/G ratio of 2.92 and a beta of 0.77. The firm has a 50 day simple moving average of $67.18 and a 200 day simple moving average of $62.07. Commerce Bancshares, Inc. has a 1-year low of $47.09 and a 1-year high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. The business had revenue of $421.38 million for the quarter, compared to analysts’ expectations of $412.85 million. On average, equities research analysts forecast that Commerce Bancshares, Inc. will post 3.95 EPS for the current year.

Commerce Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd were given a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.72%. Commerce Bancshares’s dividend payout ratio (DPR) is currently 28.13%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Raymond James downgraded shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday. Keefe, Bruyette & Woods boosted their target price on shares of Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Wells Fargo & Company raised their price target on shares of Commerce Bancshares from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. Morgan Stanley downgraded Commerce Bancshares from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $66.00 to $64.00 in a research note on Monday, September 30th. Finally, StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Eight research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $65.07.

Institutional Trading of Commerce Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. grew its position in shares of Commerce Bancshares by 0.5% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 30,906 shares of the financial services provider’s stock valued at $1,724,000 after purchasing an additional 154 shares in the last quarter. Sound Stewardship LLC boosted its stake in Commerce Bancshares by 3.9% during the third quarter. Sound Stewardship LLC now owns 4,339 shares of the financial services provider’s stock valued at $258,000 after buying an additional 163 shares during the period. Allworth Financial LP grew its position in Commerce Bancshares by 51.1% during the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock worth $34,000 after buying an additional 192 shares in the last quarter. Outlook Wealth Advisors LLC increased its stake in Commerce Bancshares by 3.6% in the 3rd quarter. Outlook Wealth Advisors LLC now owns 6,303 shares of the financial services provider’s stock worth $374,000 after acquiring an additional 217 shares during the last quarter. Finally, Marshall Financial Group LLC raised its holdings in shares of Commerce Bancshares by 1.2% in the 3rd quarter. Marshall Financial Group LLC now owns 18,257 shares of the financial services provider’s stock valued at $1,084,000 after acquiring an additional 223 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

About Commerce Bancshares

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.