Commerce Bancshares (NASDAQ:CBSH) Director Purchases $119,275.00 in Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) Director Timothy Dunn bought 2,500 shares of Commerce Bancshares stock in a transaction that occurred on Friday, March 13th. The stock was bought at an average price of $47.71 per share, with a total value of $119,275.00. Following the completion of the acquisition, the director owned 5,403 shares in the company, valued at approximately $257,777.13. The trade was a 86.12% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Commerce Bancshares Stock Up 0.2%

Shares of CBSH stock opened at $47.58 on Friday. Commerce Bancshares, Inc. has a 12 month low of $46.99 and a 12 month high of $63.19. The business’s 50 day moving average is $52.39 and its two-hundred day moving average is $53.11. The company has a market cap of $6.99 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 2.38 and a beta of 0.61.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. The business had revenue of $449.36 million during the quarter, compared to analysts’ expectations of $442.47 million. Commerce Bancshares had a net margin of 26.51% and a return on equity of 15.34%. Commerce Bancshares’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.01 earnings per share. As a group, equities analysts expect that Commerce Bancshares, Inc. will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Friday, March 6th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.10 dividend on an annualized basis and a yield of 2.3%. Commerce Bancshares’s payout ratio is currently 26.25%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CBSH. Daytona Street Capital LLC bought a new stake in shares of Commerce Bancshares in the fourth quarter valued at about $25,000. Danske Bank A S bought a new position in Commerce Bancshares during the third quarter valued at about $25,000. Geneos Wealth Management Inc. increased its stake in Commerce Bancshares by 85.4% during the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 216 shares during the period. Quent Capital LLC acquired a new position in Commerce Bancshares in the 3rd quarter valued at approximately $31,000. Finally, CoreFirst Bank & Trust acquired a new position in Commerce Bancshares in the 2nd quarter valued at approximately $33,000. Institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CBSH. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Commerce Bancshares in a research report on Monday, December 29th. Zacks Research raised Commerce Bancshares from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Piper Sandler set a $62.00 target price on Commerce Bancshares and gave the company a “neutral” rating in a research note on Monday, January 26th. Morgan Stanley lowered their target price on Commerce Bancshares from $67.00 to $65.00 and set an “equal weight” rating on the stock in a report on Monday, March 2nd. Finally, TD Cowen dropped their price target on Commerce Bancshares from $61.00 to $55.00 and set a “hold” rating on the stock in a research report on Wednesday, January 7th. One research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $61.51.

About Commerce Bancshares

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.