Commerce Bancshares, Inc. (NASDAQ:CBSH – Get Rating) EVP Robert S. Holmes sold 2,000 shares of Commerce Bancshares stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $70.45, for a total transaction of $140,900.00. Following the completion of the sale, the executive vice president now owns 43,058 shares of the company's stock, valued at approximately $3,033,436.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Commerce Bancshares Price Performance
CBSH opened at $71.25 on Friday. Commerce Bancshares, Inc. has a fifty-two week low of $61.81 and a fifty-two week high of $74.72. The firm has a market capitalization of $8.60 billion, a price-to-earnings ratio of 18.41 and a beta of 0.80. The company's 50 day moving average price is $67.18 and its two-hundred day moving average price is $69.07.
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Commerce Bancshares (NASDAQ:CBSH – Get Rating) last posted its earnings results on Thursday, July 21st. The financial services provider reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.95 by $0.01. Commerce Bancshares had a net margin of 32.88% and a return on equity of 14.27%. The firm had revenue of $371.80 million for the quarter, compared to analyst estimates of $362.50 million. During the same period in the previous year, the firm posted $1.38 EPS. The company's revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, equities research analysts predict that Commerce Bancshares, Inc. will post 4.04 EPS for the current year.
Commerce Bancshares Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Wednesday, September 7th will be paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.49%. Commerce Bancshares's dividend payout ratio is currently 27.39%.
Institutional Investors Weigh In On Commerce Bancshares
Institutional investors have recently modified their holdings of the company. State Street Corp lifted its position in shares of Commerce Bancshares by 8.9% during the 1st quarter. State Street Corp now owns 6,656,709 shares of the financial services provider's stock valued at $476,554,000 after acquiring an additional 544,292 shares during the period. Vicus Capital acquired a new position in Commerce Bancshares during the fourth quarter worth $25,870,000. Commerce Bank raised its holdings in Commerce Bancshares by 5.2% during the fourth quarter. Commerce Bank now owns 6,929,659 shares of the financial services provider's stock worth $476,345,000 after buying an additional 344,336 shares during the last quarter. UMB Bank N A MO raised its holdings in Commerce Bancshares by 298.1% during the fourth quarter. UMB Bank N A MO now owns 375,359 shares of the financial services provider's stock worth $25,802,000 after buying an additional 281,073 shares during the last quarter. Finally, Lazard Asset Management LLC raised its holdings in Commerce Bancshares by 4.9% during the fourth quarter. Lazard Asset Management LLC now owns 5,192,785 shares of the financial services provider's stock worth $356,951,000 after buying an additional 242,344 shares during the last quarter. 67.85% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the stock. StockNews.com upgraded shares of Commerce Bancshares from a "sell" rating to a "hold" rating in a research report on Monday, July 18th. DA Davidson boosted their target price on shares of Commerce Bancshares to $71.00 in a research report on Monday, July 25th. Finally, Jefferies Financial Group decreased their price target on shares of Commerce Bancshares from $75.00 to $71.00 in a report on Monday, July 11th.
About Commerce Bancshares
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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.
Further Reading
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