Insider Selling: Commerce Bancshares (NASDAQ:CBSH) Director Sells $11,006.00 in Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) Director June Mcallister Fowler sold 200 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $55.03, for a total value of $11,006.00. Following the sale, the director directly owned 6,233 shares in the company, valued at $343,001.99. The trade was a 3.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Commerce Bancshares Trading Up 0.0%

NASDAQ:CBSH opened at $54.76 on Friday. Commerce Bancshares, Inc. has a 1 year low of $46.99 and a 1 year high of $63.19. The stock has a market cap of $7.98 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 3.72 and a beta of 0.60. The stock has a 50-day moving average price of $52.17 and a two-hundred day moving average price of $52.09.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.02. Commerce Bancshares had a return on equity of 14.78% and a net margin of 26.37%.The company had revenue of $475.69 million during the quarter, compared to the consensus estimate of $481.94 million. During the same period in the prior year, the company earned $0.98 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. Sell-side analysts forecast that Commerce Bancshares, Inc. will post 4.12 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.10 dividend on an annualized basis and a yield of 2.0%. Commerce Bancshares’s payout ratio is presently 26.38%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Wall Street Zen lowered shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Piper Sandler reissued a “neutral” rating and issued a $58.50 price target (up from $56.00) on shares of Commerce Bancshares in a research note on Thursday, April 23rd. Morgan Stanley cut their price target on Commerce Bancshares from $67.00 to $65.00 and set an “equal weight” rating on the stock in a report on Monday, March 2nd. Keefe, Bruyette & Woods increased their price objective on Commerce Bancshares from $56.00 to $57.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Finally, Hovde Group decreased their price objective on Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $59.30.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Commerce Bancshares in the 4th quarter valued at about $85,282,000. Champlain Investment Partners LLC bought a new stake in Commerce Bancshares during the fourth quarter worth about $58,830,000. Vanguard Group Inc. raised its holdings in Commerce Bancshares by 8.1% during the fourth quarter. Vanguard Group Inc. now owns 14,690,039 shares of the financial services provider’s stock worth $768,877,000 after acquiring an additional 1,098,142 shares in the last quarter. Victory Capital Management Inc. boosted its position in Commerce Bancshares by 1,433.7% during the fourth quarter. Victory Capital Management Inc. now owns 1,145,683 shares of the financial services provider’s stock valued at $59,965,000 after purchasing an additional 1,070,980 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Commerce Bancshares by 29.3% during the first quarter. Dimensional Fund Advisors LP now owns 3,943,247 shares of the financial services provider’s stock valued at $193,999,000 after purchasing an additional 894,183 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.