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

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

Commerce Bancshares Stock Performance

Shares of CBSH stock opened at $54.76 on Friday. The stock has a fifty day moving average price of $52.17 and a 200 day moving average price of $52.09. The stock has a market cap of $7.98 billion, a PE ratio of 13.13, a P/E/G ratio of 3.72 and a beta of 0.60. Commerce Bancshares, Inc. has a 1 year low of $46.99 and a 1 year high of $63.19.

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

Commerce Bancshares Announces Dividend

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

Wall Street Analyst Weigh In

CBSH has been the topic of several research reports. Piper Sandler reiterated a “neutral” rating and issued a $58.50 price target (up from $56.00) on shares of Commerce Bancshares in a research report on Thursday, April 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Commerce Bancshares in a research note on Friday, March 27th. Wall Street Zen lowered Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Wells Fargo & Company lowered their target price on Commerce Bancshares from $60.00 to $53.00 and set an “equal weight” rating on the stock in a report on Monday, March 30th. Finally, Keefe, Bruyette & Woods raised their price target on Commerce Bancshares from $56.00 to $57.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $59.30.

View Our Latest Stock Analysis on CBSH

Institutional Investors Weigh In On Commerce Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the company. Daytona Street Capital LLC acquired a new position in shares of Commerce Bancshares in the fourth quarter valued at approximately $25,000. Danske Bank A S acquired a new stake in Commerce Bancshares during the third quarter worth approximately $25,000. Geneos Wealth Management Inc. grew its stake in Commerce Bancshares by 85.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 216 shares during the period. Root Financial Partners LLC grew its stake in Commerce Bancshares by 104.9% in the 1st quarter. Root Financial Partners LLC now owns 623 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 319 shares during the period. Finally, Laurel Wealth Advisors LLC acquired a new position in Commerce Bancshares in the 4th quarter valued at $34,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Commerce Bancshares Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Commerce Bancshares (NASDAQ:CBSH)

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