Commerce Bancshares, Inc. (NASDAQ:CBSH – Get Free Report) Chairman David W. Kemper sold 30,000 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $61.78, for a total value of $1,853,400.00. Following the completion of the transaction, the chairman now owns 1,151,994 shares in the company, valued at approximately $71,170,189.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Commerce Bancshares Stock Performance
NASDAQ CBSH opened at $61.20 on Friday. The company has a market capitalization of $7.93 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 3.05 and a beta of 0.74. The business’s fifty day moving average is $61.18 and its 200 day moving average is $58.33. Commerce Bancshares, Inc. has a fifty-two week low of $40.91 and a fifty-two week high of $65.86.
Commerce Bancshares Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.76%. Commerce Bancshares’s payout ratio is 30.08%.
Hedge Funds Weigh In On Commerce Bancshares
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on the company. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Wells Fargo & Company raised their price target on Commerce Bancshares from $52.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. Morgan Stanley downgraded Commerce Bancshares from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $66.00 to $64.00 in a research note on Monday, September 30th. Piper Sandler set a $68.50 price target on Commerce Bancshares and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Jefferies Financial Group lifted their target price on Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $61.79.
Check Out Our Latest Report on Commerce Bancshares
About Commerce Bancshares
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.
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