Michael J. Petrie Sells 618 Shares of Commerce Bancshares, Inc. (CBSH) Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Michael J. Petrie sold 618 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $57.13, for a total value of $35,306.34. Following the transaction, the senior vice president now directly owns 10,375 shares of the company’s stock, valued at $592,723.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Commerce Bancshares, Inc. (NASDAQ:CBSH) traded up $1.37 on Wednesday, hitting $58.89. The stock had a trading volume of 503,339 shares, compared to its average volume of 478,456. The company has a market cap of $6,140.00, a price-to-earnings ratio of 19.90, a PEG ratio of 2.14 and a beta of 0.77. Commerce Bancshares, Inc. has a 1-year low of $51.90 and a 1-year high of $60.61.

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

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

CBSH has been the subject of a number of research reports. BidaskClub lowered Commerce Bancshares from a “sell” rating to a “strong sell” rating in a research note on Saturday, December 16th. Zacks Investment Research lowered Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Barclays reissued a “hold” rating and set a $55.00 price objective on shares of Commerce Bancshares in a research note on Sunday, December 24th. Piper Jaffray Companies reissued a “hold” rating and set a $58.00 price objective 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 price objective on shares of Commerce Bancshares in a research note on Friday, January 19th. Four analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $57.13.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position 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. Commerce Bank boosted its position 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. American Century Companies Inc. boosted its position 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. Lazard Asset Management LLC boosted its position 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. Finally, Schroder Investment Management Group boosted its position 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. 59.77% of the stock is owned by institutional investors and hedge funds.

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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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