Insider Selling: Commerce Bancshares, Inc. (NASDAQ:CBSH) CFO Sells $914,285.68 in Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) CFO Charles G. Kim sold 13,493 shares of Commerce Bancshares stock in a transaction on Friday, February 7th. The shares were sold at an average price of $67.76, for a total value of $914,285.68. Following the sale, the chief financial officer now directly owns 86,246 shares in the company, valued at $5,844,028.96. The trade was a 13.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Commerce Bancshares Price Performance

NASDAQ CBSH opened at $66.44 on Friday. The company has a market capitalization of $8.52 billion, a P/E ratio of 16.57, a PEG ratio of 2.27 and a beta of 0.80. Commerce Bancshares, Inc. has a 12 month low of $47.79 and a 12 month high of $72.75. The company’s 50 day simple moving average is $65.11 and its 200 day simple moving average is $64.25.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. The company had revenue of $422.10 million during the quarter, compared to the consensus estimate of $417.48 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.84 EPS. On average, analysts anticipate that Commerce Bancshares, Inc. will post 3.9 earnings per share for the current year.

Commerce Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be paid a $0.275 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.10 dividend on an annualized basis and a yield of 1.66%. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s dividend payout ratio (DPR) is currently 26.93%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CBSH. Wells Fargo & Company lifted their price objective on shares of Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Raymond James lowered shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Piper Sandler raised their price objective on shares of Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods upped their target price on Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $67.83.

Institutional Trading of Commerce Bancshares

Several institutional investors and hedge funds have recently bought and sold shares of CBSH. V Square Quantitative Management LLC purchased a new position in shares of Commerce Bancshares in the third quarter worth approximately $26,000. CoreFirst Bank & Trust acquired a new position in Commerce Bancshares in the 4th quarter worth approximately $33,000. Allworth Financial LP grew its position in Commerce Bancshares by 51.1% during the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 192 shares in the last quarter. Marshall Investment Management LLC acquired a new stake in Commerce Bancshares during the 4th quarter valued at $35,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Commerce Bancshares in the third quarter valued at $39,000. Institutional investors and hedge funds 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.