Commerce Bancshares (NASDAQ:CBSH) Director June Mcallister Fowler Sells 200 Shares of Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) Director June Mcallister Fowler sold 200 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $55.03, for a total transaction of $11,006.00. Following the completion of the sale, the director owned 6,233 shares of the company’s stock, valued at approximately $343,001.99. This represents a 3.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Commerce Bancshares Price Performance

Commerce Bancshares stock opened at $54.76 on Friday. The firm has a market capitalization of $7.98 billion, a PE ratio of 13.13, a P/E/G ratio of 3.72 and a beta of 0.60. The company’s 50-day moving average is $52.10 and its 200-day moving average is $52.07. Commerce Bancshares, Inc. has a fifty-two week low of $46.99 and a fifty-two week high of $63.19.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Tuesday, April 21st. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.02. Commerce Bancshares had a net margin of 26.37% and a return on equity of 14.78%. The company had revenue of $475.69 million for the quarter, compared to analysts’ expectations of $481.94 million. During the same period in the prior year, the firm earned $0.98 EPS. Commerce Bancshares’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, analysts expect that Commerce Bancshares, Inc. will post 4.12 EPS for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Friday, June 5th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, June 5th. Commerce Bancshares’s dividend payout ratio (DPR) is presently 26.38%.

Wall Street Analysts Forecast Growth

CBSH has been the topic of a number of recent analyst reports. Piper Sandler reissued a “neutral” rating and set a $58.50 target price (up from $56.00) on shares of Commerce Bancshares in a report on Thursday, April 23rd. Zacks Research raised shares of Commerce Bancshares from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Wall Street Zen downgraded shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Keefe, Bruyette & Woods lifted their price target on Commerce Bancshares from $56.00 to $57.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Finally, TD Cowen reiterated a “hold” rating and issued a $54.00 price objective (up from $53.00) on shares of Commerce Bancshares in a research note on Thursday, April 23rd. One analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, Commerce Bancshares has a consensus rating of “Hold” and a consensus target price of $59.30.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CBSH. Tudor Investment Corp ET AL raised its holdings in shares of Commerce Bancshares by 5,922.5% during the third quarter. Tudor Investment Corp ET AL now owns 501,859 shares of the financial services provider’s stock valued at $29,991,000 after purchasing an additional 493,526 shares during the period. Vanguard Group Inc. raised its stake in Commerce Bancshares by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 14,690,039 shares of the financial services provider’s stock worth $768,877,000 after buying an additional 1,098,142 shares during the period. American Century Companies Inc. boosted its holdings in Commerce Bancshares by 5.4% in the third quarter. American Century Companies Inc. now owns 3,972,884 shares of the financial services provider’s stock worth $237,420,000 after acquiring an additional 202,758 shares in the last quarter. Mattern Capital Management LLC grew its stake in Commerce Bancshares by 14.4% in the fourth quarter. Mattern Capital Management LLC now owns 161,306 shares of the financial services provider’s stock valued at $8,443,000 after acquiring an additional 20,277 shares during the period. Finally, Verition Fund Management LLC increased its holdings in shares of Commerce Bancshares by 39.8% during the fourth quarter. Verition Fund Management LLC now owns 631,981 shares of the financial services provider’s stock valued at $33,078,000 after acquiring an additional 179,894 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Commerce Bancshares Company Profile

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.