Commerce Bancshares, Inc. (NASDAQ:CBSH) CEO John W. Kemper Sells 7,798 Shares of Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) CEO John W. Kemper sold 7,798 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $70.52, for a total transaction of $549,914.96. Following the completion of the transaction, the chief executive officer now owns 170,024 shares of the company’s stock, valued at approximately $11,990,092.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

John W. Kemper also recently made the following trade(s):

  • On Tuesday, January 28th, John W. Kemper sold 10,960 shares of Commerce Bancshares stock. The stock was sold at an average price of $68.37, for a total transaction of $749,335.20.

Shares of Commerce Bancshares stock opened at $70.16 on Friday. The firm has a fifty day moving average of $68.32 and a two-hundred day moving average of $63.57. The stock has a market capitalization of $7.97 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 6.90 and a beta of 0.75. Commerce Bancshares, Inc. has a 52 week low of $54.65 and a 52 week high of $71.92.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.88 by $0.05. The company had revenue of $346.12 million during the quarter, compared to analysts’ expectations of $332.87 million. Commerce Bancshares had a net margin of 29.06% and a return on equity of 14.18%. During the same quarter in the previous year, the company posted $0.91 EPS. On average, research analysts forecast that Commerce Bancshares, Inc. will post 3.42 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders of record on Friday, March 6th will be given a dividend of $0.27 per share. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.26. The ex-dividend date is Thursday, March 5th. This represents a $1.08 annualized dividend and a dividend yield of 1.54%. Commerce Bancshares’s payout ratio is presently 29.05%.

Institutional investors have recently modified their holdings of the business. Morgan Stanley increased its stake in Commerce Bancshares by 2.3% in the second quarter. Morgan Stanley now owns 110,447 shares of the financial services provider’s stock valued at $6,589,000 after purchasing an additional 2,515 shares in the last quarter. Atria Investments LLC bought a new stake in Commerce Bancshares in the second quarter valued at $206,000. 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 in the last quarter. Envestnet Asset Management Inc. increased its stake in Commerce Bancshares by 2.1% in the third quarter. Envestnet Asset Management Inc. now owns 17,632 shares of the financial services provider’s stock valued at $1,069,000 after purchasing an additional 364 shares in the last quarter. Finally, Stephens Inc. AR increased its stake in Commerce Bancshares by 2.0% in the third quarter. Stephens Inc. AR now owns 68,128 shares of the financial services provider’s stock valued at $4,132,000 after purchasing an additional 1,336 shares in the last quarter. Institutional investors own 65.81% of the company’s stock.

CBSH has been the subject of several research analyst reports. DA Davidson boosted their price objective on shares of Commerce Bancshares to $69.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 24th. Wells Fargo & Co cut shares of Commerce Bancshares from an “equal weight” rating to an “underweight” rating and set a $55.00 price objective for the company. in a research report on Monday, January 6th. They noted that the move was a valuation call. Morgan Stanley boosted their price objective on shares of Commerce Bancshares from $56.00 to $57.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 28th. Finally, BidaskClub upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $58.00.

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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