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

Key Points

• Insider sale: Commerce Bancshares Director June Mcallister Fowler sold 200 shares on June 16 at an average price of $55.03, totaling about $11,006. After the transaction, she held 6,233 shares, a 3.11% decrease in ownership.
• Stock and earnings snapshot: CBSH shares rose 0.2% to $54.85, with the stock trading near its 50-day and 200-day moving averages. The company recently beat quarterly EPS expectations, reporting $0.96 versus $0.94 expected, while revenue came in slightly below estimates.
• Dividend and analyst view: Commerce Bancshares declared a quarterly dividend of $0.275 per share, implying a 2.0% annual yield and a 26.38% payout ratio. Wall Street currently has a consensus Hold rating on the stock, with a consensus target price of $59.30.

Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) Director June Mcallister Fowler sold 200 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $55.03, for a total transaction of $11,006.00. Following the completion of the transaction, the director directly owned 6,233 shares in the company, valued at approximately $343,001.99. This trade represents a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Commerce Bancshares Stock Up 0.2%

Shares of CBSH stock traded up $0.13 during trading hours on Thursday, reaching $54.85. 678,168 shares of the stock traded hands, compared to its average volume of 1,279,294. The firm has a market capitalization of $8.00 billion, a PE ratio of 13.16, a PEG ratio of 3.75 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. The business has a fifty day moving average price of $52.00 and a 200 day moving average price of $52.05.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its quarterly earnings data 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 net margin of 26.37% and a return on equity of 14.78%. The firm had revenue of $475.69 million during the quarter, compared to analyst estimates of $481.94 million. During the same quarter last year, the business posted $0.98 EPS. The company's revenue was up 11.1% on a year-over-year basis. Research analysts expect that Commerce Bancshares, Inc. will post 4.12 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Friday, June 5th will be issued a dividend of $0.275 per share. The ex-dividend date is Friday, June 5th. This represents a $1.10 dividend on an annualized basis 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 subject of several research analyst reports. Zacks Research raised Commerce Bancshares from a "strong sell" rating to a "hold" rating in a research note on Wednesday, March 4th. Piper Sandler reaffirmed a "neutral" rating and set a $58.50 target price (up from $56.00) on shares of Commerce Bancshares in a research note on Thursday, April 23rd. Keefe, Bruyette & Woods upped their target price on Commerce Bancshares from $56.00 to $57.00 and gave the company a "market perform" rating in a report on Wednesday, May 13th. Weiss Ratings reissued a "hold (c)" rating on shares of Commerce Bancshares in a research report on Friday, March 27th. Finally, Wells Fargo & Company decreased their price target on shares of Commerce Bancshares from $60.00 to $53.00 and set an "equal weight" rating for the company in a report on Monday, March 30th. One research analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $59.30.

Institutional Trading of Commerce Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the company. Tudor Investment Corp ET AL lifted its holdings in shares of Commerce Bancshares by 5,922.5% during the 3rd quarter. Tudor Investment Corp ET AL now owns 501,859 shares of the financial services provider's stock valued at $29,991,000 after buying an additional 493,526 shares during the last quarter. Vanguard Group Inc. increased its holdings in Commerce Bancshares by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 14,690,039 shares of the financial services provider's stock worth $768,877,000 after buying an additional 1,098,142 shares during the last quarter. American Century Companies Inc. raised its position in Commerce Bancshares by 5.4% during the third quarter. American Century Companies Inc. now owns 3,972,884 shares of the financial services provider's stock valued at $237,420,000 after acquiring an additional 202,758 shares in the last quarter. Mattern Capital Management LLC raised its position in Commerce Bancshares by 14.4% during the fourth quarter. Mattern Capital Management LLC now owns 161,306 shares of the financial services provider's stock valued at $8,443,000 after acquiring an additional 20,277 shares in the last quarter. Finally, Verition Fund Management LLC raised its position in Commerce Bancshares by 39.8% during the fourth quarter. Verition Fund Management LLC now owns 631,981 shares of the financial services provider's stock valued at $33,078,000 after acquiring an additional 179,894 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Commerce Bancshares Company Profile

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.

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