Commerce Bancshares, Inc. (NASDAQ:CBSH) CEO John W. Kemper Sells 2,077 Shares of Stock

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Commerce Bancshares, Inc. (NASDAQ:CBSH) CEO John W. Kemper sold 2,077 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $61.45, for a total value of $127,631.65. Following the sale, the chief executive officer now owns 152,280 shares of the company’s stock, valued at approximately $9,357,606. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

CBSH stock traded up $0.16 during trading on Thursday, hitting $61.43. 57,393 shares of the company’s stock were exchanged, compared to its average volume of 372,642. The business has a 50-day moving average price of $57.87 and a two-hundred day moving average price of $59.07. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 3.03 and a beta of 0.75. Commerce Bancshares, Inc. has a 52-week low of $53.40 and a 52-week high of $69.75.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.96 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.02. Commerce Bancshares had a return on equity of 15.02% and a net margin of 29.90%. The company had revenue of $338.90 million during the quarter, compared to analysts’ expectations of $339.94 million. During the same quarter in the previous year, the business earned $0.96 earnings per share. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities research analysts predict that Commerce Bancshares, Inc. will post 3.68 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Friday, September 6th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Thursday, September 5th. Commerce Bancshares’s dividend payout ratio is currently 27.51%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. River & Mercantile Asset Management LLP purchased a new stake in Commerce Bancshares in the second quarter valued at approximately $1,279,000. Atria Investments LLC purchased a new stake in Commerce Bancshares in the second quarter valued at approximately $206,000. RFG Advisory LLC lifted its stake in Commerce Bancshares by 2.2% in the second quarter. RFG Advisory LLC now owns 10,381 shares of the financial services provider’s stock valued at $620,000 after buying an additional 226 shares during the last quarter. Royal Bank of Canada lifted its stake in Commerce Bancshares by 5.0% in the second quarter. Royal Bank of Canada now owns 115,110 shares of the financial services provider’s stock valued at $6,867,000 after buying an additional 5,519 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. lifted its stake in Commerce Bancshares by 2.1% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 50,171 shares of the financial services provider’s stock valued at $2,995,000 after buying an additional 1,010 shares during the last quarter. Institutional investors own 65.80% of the company’s stock.

CBSH has been the subject of several recent analyst reports. DA Davidson boosted their target price on Commerce Bancshares to $62.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 17th. Raymond James cut Commerce Bancshares from a “market perform” rating to an “underperform” rating in a research note on Monday, July 8th. Zacks Investment Research upgraded Commerce Bancshares from a “sell” rating to a “hold” rating and set a $50.00 target price for the company in a research note on Wednesday, June 12th. BidaskClub upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, September 12th. Finally, Stephens initiated coverage on Commerce Bancshares in a research note on Monday. They set a “weight” rating and a $59.00 target price for the company. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Commerce Bancshares currently has a consensus rating of “Hold” and an average price target of $58.74.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc operates as the bank holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online banking services.

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