Commerce Bancshares EVP V Raymond Stranghoener Sells 16,254 Shares (CBSH)
Commerce Bancshares (NASDAQ:CBSH) EVP V Raymond Stranghoener sold 16,254 shares of Commerce Bancshares stock on the open market in a transaction dated Monday, July 28th. The stock was sold at an average price of $45.35, for a total transaction of $737,118.90. Following the completion of the sale, the executive vice president now directly owns 54,096 shares of the company’s stock, valued at approximately $2,453,254. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Commerce Bancshares (NASDAQ:CBSH) traded up 0.84% during mid-day trading on Wednesday, hitting $45.55. The stock had a trading volume of 216,879 shares. Commerce Bancshares has a 52-week low of $40.0381 and a 52-week high of $47.65. The stock has a 50-day moving average of $45.90 and a 200-day moving average of $44.72. The company has a market cap of $4.173 billion and a price-to-earnings ratio of 16.37.
Commerce Bancshares (NASDAQ:CBSH) last released its earnings data on Tuesday, July 15th. The company reported $0.70 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.68 by $0.02. During the same quarter last year, the company posted $0.69 earnings per share. Analysts expect that Commerce Bancshares will post $2.80 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, September 25th. Shareholders of record on Friday, September 5th will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Wednesday, September 3rd.
A number of research firms have recently commented on CBSH. Analysts at Macquarie reiterated a “neutral” rating on shares of Commerce Bancshares in a research note on Wednesday, July 16th. They now have a $45.00 price target on the stock, up previously from $42.00. Separately, analysts at DA Davidson raised their price target on shares of Commerce Bancshares from $52.00 to $54.00 in a research note on Wednesday, July 16th. They now have a “buy” rating on the stock. Finally, analysts at Barclays raised their price target on shares of Commerce Bancshares from $47.00 to $53.00 in a research note on Wednesday, July 9th. They now have an “overweight” rating on the stock. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $47.00.
Commerce Bancshares, Inc is a bank holding company. Through a wholly owned bank holding company, it owns all of the outstanding capital stock of Commerce Bank (NASDAQ:CBSH).
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