Charles G. Kim Sells 4,475 Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) CFO Charles G. Kim sold 4,475 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $67.34, for a total value of $301,346.50. Following the transaction, the chief financial officer now directly owns 85,387 shares of the company’s stock, valued at $5,749,960.58. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Commerce Bancshares stock opened at $62.99 on Wednesday. The stock has a market cap of $7.19 billion, a P/E ratio of 16.66, a price-to-earnings-growth ratio of 6.00 and a beta of 0.77. The company has a fifty day simple moving average of $65.11 and a 200-day simple moving average of $60.38. Commerce Bancshares, Inc. has a 12-month low of $53.40 and a 12-month high of $67.84. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.09.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.92 by $0.06. Commerce Bancshares had a return on equity of 14.52% and a net margin of 29.34%. The firm had revenue of $336.30 million for the quarter, compared to analyst estimates of $337.31 million. During the same quarter in the prior year, the company posted $1.03 earnings per share. Commerce Bancshares’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, sell-side analysts forecast that Commerce Bancshares, Inc. will post 3.72 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Monday, December 2nd. Commerce Bancshares’s dividend payout ratio (DPR) is 27.51%.

A number of equities research analysts have issued reports on the company. BidaskClub lowered Commerce Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday. Morgan Stanley reiterated a “sell” rating and issued a $52.40 price objective (down previously from $55.00) on shares of Commerce Bancshares in a research note on Monday. Finally, Stephens reissued a “hold” rating and set a $59.00 price objective on shares of Commerce Bancshares in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $58.14.

Several large investors have recently added to or reduced their stakes in CBSH. Nomura Asset Management Co. Ltd. purchased a new stake in Commerce Bancshares during the second quarter worth approximately $35,000. Meeder Asset Management Inc. increased its stake in Commerce Bancshares by 217.0% in the third quarter. Meeder Asset Management Inc. now owns 821 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 562 shares during the last quarter. Synovus Financial Corp acquired a new stake in Commerce Bancshares during the second quarter worth approximately $49,000. Captrust Financial Advisors acquired a new stake in Commerce Bancshares during the second quarter worth approximately $50,000. Finally, Point72 Asset Management L.P. acquired a new stake in Commerce Bancshares during the second quarter worth approximately $60,000. 69.10% of the stock is owned by institutional investors and hedge funds.

About Commerce Bancshares

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. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online banking services.

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