Insider Selling: Commerce Bancshares, Inc. (CBSH) CFO Sells 5,963 Shares of Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) CFO Charles G. Kim sold 5,963 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $58.40, for a total transaction of $348,239.20. Following the completion of the sale, the chief financial officer now directly owns 77,467 shares in the company, valued at approximately $4,524,072.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Commerce Bancshares, Inc. (NASDAQ:CBSH) traded up $1.37 during trading on Wednesday, reaching $58.89. 503,339 shares of the company’s stock traded hands, compared to its average volume of 478,456. The firm has a market cap of $6,140.00, a PE ratio of 19.90, a price-to-earnings-growth ratio of 2.14 and a beta of 0.77. Commerce Bancshares, Inc. has a 52-week low of $51.90 and a 52-week high of $60.61.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Thursday, January 18th. The financial services provider reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.03. The firm had revenue of $314.22 million for the quarter, compared to analysts’ expectations of $312.98 million. Commerce Bancshares had a net margin of 25.27% and a return on equity of 12.22%. sell-side analysts predict that Commerce Bancshares, Inc. will post 3.36 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, March 26th. Shareholders of record on Friday, March 9th will be paid a dividend of $0.235 per share. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $0.94 annualized dividend and a yield of 1.60%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 31.14%.

A number of institutional investors have recently added to or reduced their stakes in CBSH. Dimensional Fund Advisors LP increased its stake in Commerce Bancshares by 5.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 924,115 shares of the financial services provider’s stock valued at $52,520,000 after buying an additional 43,967 shares during the period. Janus Henderson Group PLC bought a new position in shares of Commerce Bancshares during the 2nd quarter valued at about $8,022,000. Cetera Investment Advisers bought a new position in shares of Commerce Bancshares during the 2nd quarter valued at about $272,000. Intl Fcstone Inc. boosted its position in shares of Commerce Bancshares by 120.6% during the 2nd quarter. Intl Fcstone Inc. now owns 24,892 shares of the financial services provider’s stock valued at $1,415,000 after purchasing an additional 13,606 shares in the last quarter. Finally, Mountain Pacific Investment Advisers Inc. ID boosted its position in shares of Commerce Bancshares by 4.8% during the 3rd quarter. Mountain Pacific Investment Advisers Inc. ID now owns 288,278 shares of the financial services provider’s stock valued at $16,654,000 after purchasing an additional 13,155 shares in the last quarter. 59.77% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts recently weighed in on CBSH shares. Zacks Investment Research cut shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. BidaskClub cut shares of Commerce Bancshares from a “sell” rating to a “strong sell” rating in a report on Saturday, December 16th. Barclays reaffirmed a “hold” rating and issued a $55.00 price objective on shares of Commerce Bancshares in a report on Sunday, December 24th. Piper Jaffray Companies reissued a “hold” rating and set a $58.00 target price on shares of Commerce Bancshares in a research note on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods reissued a “sell” rating and set a $54.00 target price on shares of Commerce Bancshares in a research note on Friday, January 19th. Four research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. The company has a consensus rating of “Hold” and an average target price of $57.13.

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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.

Insider Buying and Selling by Quarter for Commerce Bancshares (NASDAQ:CBSH)

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