Key Points
- CEO John Kemper sold 23,397 shares on Feb. 5 at an average price of $53.99 for a total of $1.263M, trimming his stake by 10.18% to 206,528 shares valued at about $11.15M.
- Q4 results beat expectations: Commerce Bancshares reported $1.01 EPS versus a $0.99 estimate and revenue of $449.36M (consensus $442.47M), with revenue up 6.5% year-over-year and a 15.51% ROE.
- The company announced a quarterly dividend of $0.275 (annualized $1.10) with an ex-dividend date of March 6 and a yield of roughly 2.0%, and a dividend payout ratio of 26.25%.
Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) CEO John Kemper sold 23,397 shares of the company's stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $53.99, for a total transaction of $1,263,204.03. Following the transaction, the chief executive officer owned 206,528 shares in the company, valued at $11,150,446.72. The trade was a 10.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Commerce Bancshares Trading Up 0.1%
CBSH stock opened at $55.23 on Tuesday. The firm has a 50 day moving average of $53.29 and a 200-day moving average of $54.46. The company has a market cap of $7.31 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 2.74 and a beta of 0.62. Commerce Bancshares, Inc. has a 12-month low of $48.69 and a 12-month high of $64.53.
Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its earnings results on Thursday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.02. Commerce Bancshares had a net margin of 26.51% and a return on equity of 15.51%. The firm had revenue of $449.36 million during the quarter, compared to the consensus estimate of $442.47 million. During the same period last year, the firm posted $1.01 EPS. The firm's revenue for the quarter was up 6.5% on a year-over-year basis. Sell-side analysts forecast that Commerce Bancshares, Inc. will post 3.94 earnings per share for the current fiscal year.
Commerce Bancshares Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Friday, March 6th will be issued a $0.275 dividend. The ex-dividend date is Friday, March 6th. This represents a $1.10 dividend on an annualized basis and a yield of 2.0%. Commerce Bancshares's dividend payout ratio (DPR) is presently 26.25%.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on the company. Wells Fargo & Company reduced their price target on Commerce Bancshares from $61.90 to $57.14 and set an "equal weight" rating on the stock in a research report on Tuesday, October 21st. Keefe, Bruyette & Woods decreased their target price on shares of Commerce Bancshares from $61.90 to $57.14 and set a "market perform" rating for the company in a research note on Friday, October 17th. Wall Street Zen downgraded Commerce Bancshares from a "hold" rating to a "sell" rating in a research note on Saturday, October 18th. Zacks Research lowered Commerce Bancshares from a "hold" rating to a "strong sell" rating in a research report on Thursday, January 8th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Commerce Bancshares in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Commerce Bancshares has a consensus rating of "Reduce" and a consensus price target of $61.75.
Check Out Our Latest Stock Analysis on Commerce Bancshares
Institutional Trading of Commerce Bancshares
Several institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Commerce Bancshares during the second quarter valued at approximately $89,282,000. Vanguard Group Inc. boosted its position in Commerce Bancshares by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 14,690,039 shares of the financial services provider's stock valued at $768,877,000 after purchasing an additional 1,098,142 shares during the period. AQR Capital Management LLC grew its stake in Commerce Bancshares by 82.1% during the 3rd quarter. AQR Capital Management LLC now owns 1,245,068 shares of the financial services provider's stock worth $74,368,000 after buying an additional 561,331 shares during the last quarter. Tudor Investment Corp ET AL increased its position in Commerce Bancshares by 5,922.5% in the third quarter. Tudor Investment Corp ET AL now owns 501,859 shares of the financial services provider's stock worth $29,991,000 after buying an additional 493,526 shares during the period. Finally, Millennium Management LLC lifted its stake in Commerce Bancshares by 56.7% in the third quarter. Millennium Management LLC now owns 1,313,453 shares of the financial services provider's stock valued at $78,492,000 after buying an additional 475,331 shares during the last quarter. Institutional investors own 70.26% of the company's stock.
About Commerce Bancshares
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
