Commerce Bancshares Chairman Sells $189,040 in Stock (CBSH)
Commerce Bancshares (NASDAQ:CBSH) Chairman Seth M. Leadbeater sold 4,123 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $45.85, for a total transaction of $189,039.55. Following the completion of the transaction, the chairman now directly owns 89,452 shares in the company, valued at approximately $4,101,374. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Commerce Bancshares (NASDAQ:CBSH) traded up 0.85% on Thursday, hitting $46.08. The stock had a trading volume of 231,258 shares. Commerce Bancshares has a one year low of $40.0381 and a one year high of $47.65. The stock’s 50-day moving average is $45. and its 200-day moving average is $44.75. The company has a market cap of $4.223 billion and a P/E ratio of 16.55.
Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Tuesday, July 15th. The company reported $0.70 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.68 by $0.02. During the same quarter in the prior year, the company posted $0.69 earnings per share. On average, analysts predict that Commerce Bancshares will post $2.81 earnings per share 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 1.95%. The ex-dividend date of this dividend is Wednesday, September 3rd.
Several analysts have recently commented on the stock. 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. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $47.14.
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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