Insider Selling: Commerce Bancshares, Inc. (CBSH) Chairman Sells 7,315 Shares of Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) Chairman David W. Kemper sold 7,315 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $57.38, for a total transaction of $419,734.70. Following the transaction, the chairman now directly owns 1,279,276 shares in the company, valued at approximately $73,404,856.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.03. Commerce Bancshares had a net margin of 25.27% and a return on equity of 12.22%. The company had revenue of $314.22 million during the quarter, compared to analyst estimates of $312.98 million. equities analysts forecast that Commerce Bancshares, Inc. will post 3.36 earnings per share for the current year.

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

Several large investors have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Commerce Bancshares by 6.2% in the fourth quarter. BlackRock Inc. now owns 8,217,981 shares of the financial services provider’s stock worth $458,894,000 after buying an additional 481,612 shares during the period. Schroder Investment Management Group boosted its holdings in shares of Commerce Bancshares by 49.9% in the fourth quarter. Schroder Investment Management Group now owns 1,266,154 shares of the financial services provider’s stock worth $70,702,000 after buying an additional 421,526 shares during the period. American Century Companies Inc. boosted its holdings in shares of Commerce Bancshares by 11.3% in the fourth quarter. American Century Companies Inc. now owns 3,643,390 shares of the financial services provider’s stock worth $203,447,000 after buying an additional 369,008 shares during the period. Commerce Bank boosted its holdings in shares of Commerce Bancshares by 4.6% in the fourth quarter. Commerce Bank now owns 7,369,241 shares of the financial services provider’s stock worth $411,498,000 after buying an additional 325,364 shares during the period. Finally, Lazard Asset Management LLC boosted its holdings in shares of Commerce Bancshares by 11.3% in the fourth quarter. Lazard Asset Management LLC now owns 1,637,293 shares of the financial services provider’s stock worth $91,425,000 after buying an additional 165,690 shares during the period. Institutional investors own 59.77% of the company’s stock.

Several equities analysts have commented on CBSH shares. Zacks Investment Research raised shares of Commerce Bancshares from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research note on Monday, January 8th. Barclays raised their price objective on shares of Commerce Bancshares from $55.00 to $59.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. BidaskClub upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, December 28th. Piper Jaffray Companies restated a “hold” rating and set a $58.00 price objective on shares of Commerce Bancshares in a research report on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods restated a “sell” rating and set a $54.00 price objective on shares of Commerce Bancshares in a research report on Friday, January 19th. Four investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The stock has an average rating of “Hold” and a consensus target price of $57.13.

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About Commerce Bancshares

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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