David W. Kemper Sells 10,132 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) Chairman David W. Kemper sold 10,132 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $57.83, for a total transaction of $585,933.56. Following the completion of the transaction, the chairman now owns 1,270,757 shares in the company, valued at $73,487,877.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of Commerce Bancshares, Inc. (NASDAQ CBSH) traded down 0.20% during mid-day trading on Friday, reaching $54.35. The company’s stock had a trading volume of 669,675 shares. The stock has a market capitalization of $5.52 billion, a P/E ratio of 19.69 and a beta of 0.81. Commerce Bancshares, Inc. has a 12-month low of $45.37 and a 12-month high of $60.61. The company’s 50-day moving average price is $57.23 and its 200-day moving average price is $56.45.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Thursday, July 13th. The financial services provider reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.05. The firm had revenue of $305.89 million for the quarter, compared to the consensus estimate of $309.44 million. Commerce Bancshares had a return on equity of 12.01% and a net margin of 23.79%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 EPS. On average, equities research analysts forecast that Commerce Bancshares, Inc. will post $2.94 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 25th. Stockholders of record on Friday, September 8th will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Thursday, September 7th. Commerce Bancshares’s dividend payout ratio is currently 32.64%.

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Several research analysts recently weighed in on the stock. Jefferies Group LLC restated a “hold” rating and issued a $61.00 price objective on shares of Commerce Bancshares in a research report on Friday, August 11th. UBS AG cut shares of Commerce Bancshares to an “underperform” rating in a research report on Thursday, August 10th. Raymond James Financial, Inc. restated an “underperform” rating on shares of Commerce Bancshares in a research report on Thursday, August 10th. BidaskClub cut shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, Zacks Investment Research lowered Commerce Bancshares from a “buy” rating to a “hold” rating in a research note on Thursday. Five analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $55.00.

Several institutional investors have recently added to or reduced their stakes in CBSH. Speece Thorson Capital Group Inc. increased its position in Commerce Bancshares by 2.8% in the first quarter. Speece Thorson Capital Group Inc. now owns 148,016 shares of the financial services provider’s stock valued at $8,313,000 after buying an additional 4,028 shares in the last quarter. Retirement Systems of Alabama increased its position in Commerce Bancshares by 7.4% in the first quarter. Retirement Systems of Alabama now owns 223,121 shares of the financial services provider’s stock valued at $12,530,000 after buying an additional 15,286 shares in the last quarter. DnB Asset Management AS bought a new position in Commerce Bancshares during the first quarter valued at $3,477,000. Louisiana State Employees Retirement System increased its position in Commerce Bancshares by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 22,100 shares of the financial services provider’s stock valued at $1,241,000 after buying an additional 500 shares in the last quarter. Finally, Mountain Pacific Investment Advisers Inc. ID increased its position in Commerce Bancshares by 0.9% in the first quarter. Mountain Pacific Investment Advisers Inc. ID now owns 269,208 shares of the financial services provider’s stock valued at $15,119,000 after buying an additional 2,340 shares in the last quarter. 61.42% of the stock is currently owned by hedge funds and other institutional investors.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc is a bank holding company of Commerce Bank (the Bank). The Bank is engaged in general banking business, providing a range of retail, mortgage banking, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.

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

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