Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Patricia R. Kellerhals Sells 2,000 Shares

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Patricia R. Kellerhals sold 2,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $62.23, for a total transaction of $124,460.00. Following the completion of the sale, the senior vice president now owns 23,381 shares of the company’s stock, valued at approximately $1,454,999.63. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Commerce Bancshares Stock Performance

Shares of Commerce Bancshares stock opened at $62.39 on Thursday. Commerce Bancshares, Inc. has a one year low of $40.91 and a one year high of $65.86. The company has a market cap of $8.04 billion, a P/E ratio of 17.40, a PEG ratio of 10.29 and a beta of 0.75. The firm has a fifty day moving average of $61.98 and a two-hundred day moving average of $56.84.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.17. Commerce Bancshares had a net margin of 23.62% and a return on equity of 16.50%. The business had revenue of $414.90 million for the quarter, compared to analysts’ expectations of $406.88 million. During the same period in the prior year, the company posted $0.97 EPS. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, equities analysts predict that Commerce Bancshares, Inc. will post 3.96 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Thursday, September 5th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.73%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 30.12%.

Hedge Funds Weigh In On Commerce Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in CBSH. Dimensional Fund Advisors LP boosted its stake in shares of Commerce Bancshares by 22.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,676,350 shares of the financial services provider’s stock worth $89,541,000 after purchasing an additional 302,630 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Commerce Bancshares by 4.2% during the 4th quarter. Principal Financial Group Inc. now owns 436,081 shares of the financial services provider’s stock worth $23,291,000 after purchasing an additional 17,417 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in shares of Commerce Bancshares by 5.0% during the 4th quarter. Panagora Asset Management Inc. now owns 5,417 shares of the financial services provider’s stock worth $289,000 after purchasing an additional 257 shares during the last quarter. Securian Asset Management Inc. boosted its stake in shares of Commerce Bancshares by 4.0% during the 4th quarter. Securian Asset Management Inc. now owns 9,991 shares of the financial services provider’s stock worth $534,000 after purchasing an additional 380 shares during the last quarter. Finally, Brown Advisory Inc. boosted its stake in shares of Commerce Bancshares by 4.8% during the 4th quarter. Brown Advisory Inc. now owns 52,185 shares of the financial services provider’s stock worth $2,787,000 after purchasing an additional 2,367 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. Morgan Stanley upped their price target on shares of Commerce Bancshares from $58.00 to $66.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Finally, Jefferies Financial Group upped their price objective on shares of Commerce Bancshares from $60.00 to $62.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Commerce Bancshares has an average rating of “Hold” and an average price target of $60.00.

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 in the United States. It operates through three segments: Consumer, Commercial, and Wealth.