Key Points
- Commerce Bancshares SVP Douglas Neff sold 666 shares at an average price of $58.15, totaling $38,727.90 and reducing his holdings by 5.37% to 11,746 shares.
- The company reported quarterly earnings of $1.10 per share, exceeding estimates by $0.06, while revenue of $498.91 million also topped expectations.
- Commerce Bancshares announced a quarterly dividend of $0.275 per share, equivalent to a $1.10 annualized payout and a 1.9% yield; analysts maintain a consensus “Hold” rating with a $63.29 price target.
Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) SVP Douglas Neff sold 666 shares of Commerce Bancshares stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $58.15, for a total transaction of $38,727.90. Following the sale, the senior vice president owned 11,746 shares of the company's stock, valued at $683,029.90. The trade was a 5.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Commerce Bancshares Price Performance
Shares of CBSH stock opened at $57.71 on Tuesday. The company has a market capitalization of $8.28 billion, a P/E ratio of 13.97, a P/E/G ratio of 2.06 and a beta of 0.59. The company's 50-day simple moving average is $58.69 and its two-hundred day simple moving average is $53.99. Commerce Bancshares, Inc. has a one year low of $46.99 and a one year high of $60.92. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.82 and a quick ratio of 0.82.
Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.06. The firm had revenue of $498.91 million during the quarter, compared to the consensus estimate of $492.22 million. Commerce Bancshares had a net margin of 26.07% and a return on equity of 14.31%. During the same quarter in the previous year, the firm posted $1.14 earnings per share. As a group, equities analysts anticipate that Commerce Bancshares, Inc. will post 4.25 EPS for the current year.
Commerce Bancshares Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Friday, September 4th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, September 4th. Commerce Bancshares's dividend payout ratio is currently 26.63%.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the company. Keefe, Bruyette & Woods raised their price target on Commerce Bancshares from $60.00 to $62.00 and gave the company a "market perform" rating in a research note on Monday, July 20th. Weiss Ratings raised shares of Commerce Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, July 21st. Stephens set a $64.00 target price on shares of Commerce Bancshares and gave the stock an "equal weight" rating in a report on Friday, July 17th. Wells Fargo & Company set a $63.00 target price on shares of Commerce Bancshares and gave the company an "equal weight" rating in a research report on Monday, August 10th. Finally, Morgan Stanley restated a "positive" rating and issued a $65.00 price target (up from $61.00) on shares of Commerce Bancshares in a report on Monday, June 29th. Three investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Commerce Bancshares has an average rating of "Hold" and a consensus target price of $63.29.
Get Our Latest Report on CBSH
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in CBSH. Apriem Advisors lifted its stake in shares of Commerce Bancshares by 5.0% during the 4th quarter. Apriem Advisors now owns 4,018 shares of the financial services provider's stock worth $210,000 after purchasing an additional 191 shares during the last quarter. Heartland Bank & Trust Co grew its stake in Commerce Bancshares by 4.4% in the fourth quarter. Heartland Bank & Trust Co now owns 4,595 shares of the financial services provider's stock valued at $240,000 after purchasing an additional 192 shares during the last quarter. Outlook Wealth Advisors LLC grew its stake in Commerce Bancshares by 3.7% in the fourth quarter. Outlook Wealth Advisors LLC now owns 5,934 shares of the financial services provider's stock valued at $311,000 after purchasing an additional 214 shares during the last quarter. Centerpoint Advisory Group raised its holdings in Commerce Bancshares by 5.0% in the fourth quarter. Centerpoint Advisory Group now owns 4,534 shares of the financial services provider's stock worth $237,000 after purchasing an additional 215 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in Commerce Bancshares by 85.4% in the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider's stock worth $29,000 after purchasing an additional 216 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.
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.
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