Jonathan M. Kemper Sells 55,000 Shares of Commerce Bancshares, Inc. (CBSH) Stock
Commerce Bancshares, Inc. (NASDAQ:CBSH) Vice Chairman Jonathan M. Kemper sold 55,000 shares of the business’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $55.06, for a total transaction of $3,028,300.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Commerce Bancshares, Inc. (NASDAQ:CBSH) opened at $54.34 on Friday. Commerce Bancshares, Inc. has a 52-week low of $51.90 and a 52-week high of $60.61. The stock has a market cap of $5,871.43, a P/E ratio of 20.49, a price-to-earnings-growth ratio of 3.21 and a beta of 0.80. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.04.
Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, October 12th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.03). Commerce Bancshares had a return on equity of 12.08% and a net margin of 23.93%. The business had revenue of $304.83 million for the quarter, compared to analyst estimates of $317.28 million. During the same quarter in the previous year, the company earned $0.68 EPS. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. sell-side analysts expect that Commerce Bancshares, Inc. will post 2.77 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 18th. Shareholders of record on Thursday, November 30th will be given a dividend of $0.225 per share. The ex-dividend date is Wednesday, November 29th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.66%. Commerce Bancshares’s payout ratio is presently 33.51%.
Institutional investors have recently modified their holdings of the company. Cetera Investment Advisers bought a new stake in shares of Commerce Bancshares during the 2nd quarter worth approximately $272,000. Nuance Investments LLC lifted its holdings in shares of Commerce Bancshares by 4.3% during the 3rd quarter. Nuance Investments LLC now owns 996,414 shares of the financial services provider’s stock worth $57,563,000 after acquiring an additional 40,997 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in shares of Commerce Bancshares by 1.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 468,110 shares of the financial services provider’s stock worth $26,603,000 after acquiring an additional 8,179 shares during the period. WBI Investments Inc. bought a new stake in shares of Commerce Bancshares during the 2nd quarter worth approximately $2,496,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Commerce Bancshares during the 3rd quarter worth approximately $478,000. 59.15% of the stock is owned by institutional investors.
Several research analysts have recently weighed in on CBSH shares. Zacks Investment Research upgraded shares of Commerce Bancshares from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Friday, October 6th. Piper Jaffray Companies reiterated a “neutral” rating and issued a $60.00 price target on shares of Commerce Bancshares in a research note on Friday, October 6th. Finally, Keefe, Bruyette & Woods reiterated a “sell” rating and issued a $51.00 price target on shares of Commerce Bancshares in a research note on Friday, September 15th. Six analysts have rated the stock with a sell rating and five have given a hold rating to the company. The stock currently has a consensus rating of “Sell” and an average price target of $56.63.
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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.
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