Commerce Bancshares, Inc. (CBSH) Insider Sells $373,701.60 in Stock
Commerce Bancshares, Inc. (NASDAQ:CBSH) insider V Raymond Stranghoener sold 6,399 shares of the business’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $58.40, for a total transaction of $373,701.60. Following the sale, the insider now directly owns 47,112 shares in the company, valued at approximately $2,751,340.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) traded down 1.91% during mid-day trading on Monday, hitting $57.63. 333,090 shares of the company traded hands. The firm’s 50 day moving average price is $56.92 and its 200-day moving average price is $56.13. Commerce Bancshares, Inc. has a 1-year low of $46.57 and a 1-year high of $60.61. The stock has a market capitalization of $5.86 billion, a PE ratio of 20.41 and a beta of 0.83.
Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, October 12th. The financial services provider reported $0.71 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.03). The company had revenue of $304.83 million for the quarter, compared to analysts’ expectations of $317.28 million. Commerce Bancshares had a net margin of 23.93% and a return on equity of 12.08%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 EPS. On average, equities research analysts forecast that Commerce Bancshares, Inc. will post $2.90 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 18th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Wednesday, November 29th. Commerce Bancshares’s dividend payout ratio (DPR) is currently 31.91%.
ILLEGAL ACTIVITY NOTICE: This story was first reported by American Banking News and is the sole property of of American Banking News. If you are reading this story on another site, it was copied illegally and reposted in violation of United States and international copyright & trademark law. The original version of this story can be viewed at https://www.americanbankingnews.com/2017/10/30/commerce-bancshares-inc-cbsh-insider-sells-373701-60-in-stock.html.
Several hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement Association of Colorado grew its holdings in shares of Commerce Bancshares by 0.3% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 12,520 shares of the financial services provider’s stock valued at $712,000 after purchasing an additional 42 shares during the last quarter. M&T Bank Corp grew its holdings in shares of Commerce Bancshares by 1.0% during the 2nd quarter. M&T Bank Corp now owns 6,179 shares of the financial services provider’s stock valued at $351,000 after purchasing an additional 62 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Commerce Bancshares by 1.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 7,354 shares of the financial services provider’s stock valued at $418,000 after purchasing an additional 103 shares during the last quarter. Advisor Group Inc. grew its holdings in shares of Commerce Bancshares by 2.4% during the 2nd quarter. Advisor Group Inc. now owns 5,023 shares of the financial services provider’s stock valued at $250,000 after purchasing an additional 120 shares during the last quarter. Finally, World Asset Management Inc grew its holdings in shares of Commerce Bancshares by 2.8% during the 2nd quarter. World Asset Management Inc now owns 5,568 shares of the financial services provider’s stock valued at $316,000 after purchasing an additional 150 shares during the last quarter. 62.13% of the stock is currently owned by institutional investors.
A number of research firms have weighed in on CBSH. Zacks Investment Research raised shares of Commerce Bancshares from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a research note on Tuesday, September 5th. Raymond James Financial, Inc. reaffirmed an “underperform” rating on shares of Commerce Bancshares in a research note on Thursday, August 10th. Barclays PLC reaffirmed an “equal weight” rating and set a $54.00 target price (down previously from $55.00) on shares of Commerce Bancshares in a research note on Wednesday, July 12th. Jefferies Group LLC reaffirmed a “hold” rating and set a $61.00 target price on shares of Commerce Bancshares in a research note on Friday, July 14th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and set a $53.00 target price (up previously from $51.00) on shares of Commerce Bancshares in a research note on Friday, July 14th. Five investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $56.63.
Commerce Bancshares Company Profile
Commerce Bancshares, Inc is a bank holding company of Commerce Bank (the Bank). The Bank is engaged in general banking business, providing a range of retail, mortgage banking, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.
Receive News & Ratings for Commerce Bancshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commerce Bancshares Inc. and related companies with MarketBeat.com's FREE daily email newsletter.