Insider Selling: Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Sells 3,200 Shares of Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Jeffrey M. Burik sold 3,200 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $60.96, for a total value of $195,072.00. Following the transaction, the senior vice president now owns 17,120 shares in the company, valued at $1,043,635.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

CBSH traded up $0.54 during trading hours on Thursday, reaching $61.81. The company’s stock had a trading volume of 8,318 shares, compared to its average volume of 372,642. Commerce Bancshares, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $69.75. The stock has a market cap of $6.74 billion, a PE ratio of 16.31, a P/E/G ratio of 3.03 and a beta of 0.75. The business’s 50-day moving average is $57.87 and its 200-day moving average is $59.07.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.02. Commerce Bancshares had a return on equity of 15.02% and a net margin of 29.90%. The firm had revenue of $338.90 million for the quarter, compared to analysts’ expectations of $339.94 million. During the same period in the prior year, the firm posted $0.96 earnings per share. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Commerce Bancshares, Inc. will post 3.68 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, September 6th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Thursday, September 5th. Commerce Bancshares’s dividend payout ratio is presently 27.51%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisor Group Inc. lifted its holdings in Commerce Bancshares by 1.8% in the second quarter. Advisor Group Inc. now owns 10,625 shares of the financial services provider’s stock valued at $633,000 after acquiring an additional 188 shares during the last quarter. ETF Managers Group LLC lifted its holdings in Commerce Bancshares by 9.0% in the first quarter. ETF Managers Group LLC now owns 2,527 shares of the financial services provider’s stock valued at $147,000 after acquiring an additional 208 shares during the last quarter. LPL Financial LLC lifted its holdings in Commerce Bancshares by 1.7% in the second quarter. LPL Financial LLC now owns 13,265 shares of the financial services provider’s stock valued at $791,000 after acquiring an additional 219 shares during the last quarter. RFG Advisory LLC lifted its holdings 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 acquiring an additional 226 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Commerce Bancshares by 0.3% in the second quarter. Victory Capital Management Inc. now owns 79,815 shares of the financial services provider’s stock valued at $4,762,000 after acquiring an additional 247 shares during the last quarter. Hedge funds and other institutional investors own 65.80% of the company’s stock.

Several research analysts have recently weighed in on CBSH shares. Zacks Investment Research upgraded Commerce Bancshares from a “sell” rating to a “hold” rating and set a $50.00 target price on the stock in a report on Wednesday, June 12th. BidaskClub upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. Raymond James cut Commerce Bancshares from a “market perform” rating to an “underperform” rating in a report on Monday, July 8th. DA Davidson boosted their target price on Commerce Bancshares to $62.00 and gave the stock a “neutral” rating in a report on Wednesday, July 17th. Finally, Stephens started coverage on Commerce Bancshares in a report on Monday. They set a “weight” rating and a $59.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $58.74.

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. 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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Insider Buying and Selling by Quarter for Commerce Bancshares (NASDAQ:CBSH)

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