David L. Roller Sells 890 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP David L. Roller sold 890 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $72.27, for a total value of $64,320.30. Following the completion of the sale, the senior vice president now owns 30,949 shares in the company, valued at approximately $2,236,684.23. This represents a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Commerce Bancshares Price Performance

CBSH stock opened at $73.70 on Friday. Commerce Bancshares, Inc. has a 12 month low of $47.19 and a 12 month high of $73.82. The company’s 50 day simple moving average is $63.52 and its 200-day simple moving average is $60.30. The firm has a market capitalization of $9.45 billion, a PE ratio of 19.19, a P/E/G ratio of 3.88 and a beta of 0.73.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. The firm had revenue of $421.38 million during the quarter, compared to analysts’ expectations of $412.85 million. As a group, sell-side analysts anticipate that Commerce Bancshares, Inc. will post 4.02 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.08 annualized dividend and a yield of 1.47%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 28.13%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CBSH. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Morgan Stanley cut Commerce Bancshares from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $66.00 to $64.00 in a research report on Monday, September 30th. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $61.79.

Institutional Investors Weigh In On Commerce Bancshares

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Commerce Bancshares by 2.1% during the first quarter. Vanguard Group Inc. now owns 12,631,645 shares of the financial services provider’s stock valued at $672,004,000 after buying an additional 259,127 shares in the last quarter. O Shaughnessy Asset Management LLC grew its stake in Commerce Bancshares by 34.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 5,518 shares of the financial services provider’s stock valued at $294,000 after purchasing an additional 1,419 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of Commerce Bancshares by 86.3% in the first quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock worth $45,000 after buying an additional 390 shares during the last quarter. LRI Investments LLC bought a new position in Commerce Bancshares during the 1st quarter valued at $90,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in Commerce Bancshares by 6.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 64,627 shares of the financial services provider’s stock worth $3,440,000 after acquiring an additional 3,749 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

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.