Short Interest in Commerce Bancshares, Inc. (NASDAQ:CBSH) Expands By 14.6%

Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) was the target of a significant increase in short interest in April. As of April 15th, there was short interest totalling 2,350,000 shares, an increase of 14.6% from the March 31st total of 2,050,000 shares. Based on an average daily trading volume, of 496,700 shares, the days-to-cover ratio is currently 4.7 days.

Insider Buying and Selling

In related news, EVP Robert S. Holmes sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $52.66, for a total value of $263,300.00. Following the sale, the executive vice president now directly owns 50,293 shares of the company's stock, valued at $2,648,429.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Commerce Bancshares news, EVP Robert S. Holmes sold 5,000 shares of the firm's stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $52.66, for a total transaction of $263,300.00. Following the sale, the executive vice president now owns 50,293 shares in the company, valued at $2,648,429.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Douglas D. Neff sold 614 shares of the company's stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $50.25, for a total value of $30,853.50. Following the completion of the transaction, the senior vice president now owns 8,038 shares of the company's stock, valued at $403,909.50. The disclosure for this sale can be found here. Insiders sold a total of 9,876 shares of company stock worth $510,441 over the last ninety days. 3.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Commerce Bancshares

Several hedge funds have recently added to or reduced their stakes in the stock. BKM Wealth Management LLC purchased a new position in shares of Commerce Bancshares in the 4th quarter worth about $29,000. Creative Financial Designs Inc. ADV bought a new stake in shares of Commerce Bancshares during the fourth quarter valued at approximately $35,000. Clarity Asset Management Inc. purchased a new position in Commerce Bancshares in the 4th quarter worth approximately $43,000. Adirondack Trust Co. bought a new position in Commerce Bancshares in the 3rd quarter valued at approximately $44,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Commerce Bancshares in the 4th quarter worth $55,000. 70.26% of the stock is owned by institutional investors.

Commerce Bancshares Price Performance

Commerce Bancshares stock traded down $0.62 during mid-day trading on Monday, reaching $54.79. 393,285 shares of the company traded hands, compared to its average volume of 484,614. The firm's 50 day moving average price is $52.55 and its 200 day moving average price is $51.35. The firm has a market capitalization of $7.12 billion, a price-to-earnings ratio of 15.28 and a beta of 0.79. Commerce Bancshares has a 52-week low of $40.91 and a 52-week high of $56.75.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last issued its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.80 by $0.06. Commerce Bancshares had a net margin of 23.33% and a return on equity of 16.78%. The business had revenue of $397.80 million during the quarter, compared to analyst estimates of $389.49 million. During the same period last year, the business posted $0.90 earnings per share. Commerce Bancshares's quarterly revenue was up 2.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Commerce Bancshares will post 3.43 EPS for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Wednesday, June 5th will be issued a dividend of $0.27 per share. The ex-dividend date is Wednesday, June 5th. This represents a $1.08 annualized dividend and a dividend yield of 1.97%. Commerce Bancshares's payout ratio is 30.12%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods increased their target price on shares of Commerce Bancshares from $56.00 to $58.00 and gave the company a "market perform" rating in a report on Wednesday, April 17th. Bank of America initiated coverage on Commerce Bancshares in a report on Thursday, January 11th. They set a "neutral" rating and a $55.00 target price for the company. StockNews.com raised Commerce Bancshares from a "sell" rating to a "hold" rating in a research note on Wednesday, April 17th. Morgan Stanley raised their target price on shares of Commerce Bancshares from $46.00 to $55.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 7th. Finally, Raymond James upgraded shares of Commerce Bancshares from a "market perform" rating to an "outperform" rating and set a $61.00 price target for the company in a report on Wednesday, April 17th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $55.00.

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 in the United States. It operates through three segments: Consumer, Commercial, and Wealth.

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