Commerce Bancshares, Inc. (NASDAQ:CBSH) EVP Sells $245,726.25 in Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) EVP Robert S. Holmes sold 3,795 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $64.75, for a total transaction of $245,726.25. Following the sale, the executive vice president now directly owns 50,293 shares in the company, valued at $3,256,471.75. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Commerce Bancshares Stock Performance

Shares of NASDAQ:CBSH opened at $64.71 on Thursday. Commerce Bancshares, Inc. has a 52-week low of $40.91 and a 52-week high of $65.86. The stock has a market capitalization of $8.38 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 10.87 and a beta of 0.76. The stock’s 50-day simple moving average is $57.03 and its two-hundred day simple moving average is $54.53.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, July 18th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.17. Commerce Bancshares had a net margin of 23.62% and a return on equity of 16.50%. The company had revenue of $414.90 million during the quarter, compared to analyst estimates of $406.88 million. During the same period in the previous year, the business posted $0.97 earnings per share. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, equities analysts forecast that Commerce Bancshares, Inc. will post 3.9 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Thursday, September 5th will be issued a $0.27 dividend. The ex-dividend date is Thursday, September 5th. This represents a $1.08 dividend on an annualized basis and a yield of 1.67%. Commerce Bancshares’s dividend payout ratio is currently 30.12%.

Institutional Trading of Commerce Bancshares

Several hedge funds have recently bought and sold shares of the stock. United Advisor Group LLC purchased a new position in shares of Commerce Bancshares during the 4th quarter valued at about $3,827,000. Vanguard Group Inc. boosted its position in shares of Commerce Bancshares by 2.1% in the first quarter. Vanguard Group Inc. now owns 12,631,645 shares of the financial services provider’s stock worth $672,004,000 after purchasing an additional 259,127 shares during the period. Speece Thorson Capital Group Inc. increased its stake in shares of Commerce Bancshares by 37.3% in the fourth quarter. Speece Thorson Capital Group Inc. now owns 232,774 shares of the financial services provider’s stock worth $12,432,000 after purchasing an additional 63,266 shares in the last quarter. Trexquant Investment LP bought a new stake in shares of Commerce Bancshares during the 4th quarter valued at $1,176,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Commerce Bancshares by 4.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 193,619 shares of the financial services provider’s stock valued at $10,341,000 after buying an additional 7,740 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group raised their price target on shares of Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Keefe, Bruyette & Woods upped their price target on Commerce Bancshares from $58.00 to $60.00 and gave the company a “market perform” rating in a report on Friday, May 10th. Morgan Stanley increased their price objective on Commerce Bancshares from $55.00 to $58.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. Wells Fargo & Company boosted their target price on Commerce Bancshares from $52.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Monday, July 22nd. Finally, Raymond James raised shares of Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 price target on the stock in a report on Wednesday, April 17th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Commerce Bancshares currently has an average rating of “Hold” and a consensus price target of $58.86.

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.