Commerce Bancshares (NASDAQ:CBSH) Stock Price Breaks Below 50-Day Moving Average - Time to Sell?

Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) shares passed below its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $56.02 and traded as low as $55.36. Commerce Bancshares shares last traded at $55.89, with a volume of 823,111 shares.

Analyst Ratings Changes

CBSH has been the topic of a number of research reports. Wells Fargo & Company reduced their target price on shares of Commerce Bancshares from $61.00 to $60.00 and set an "equal weight" rating on the stock in a report on Monday. Wall Street Zen downgraded shares of Commerce Bancshares from a "hold" rating to a "sell" rating in a research note on Saturday, November 7th. Morgan Stanley upped their price objective on Commerce Bancshares from $76.00 to $77.00 and gave the stock an "overweight" rating in a research report on Monday, September 28th. TD Cowen reiterated a "hold" rating and issued a $63.00 price objective (up from $62.00) on shares of Commerce Bancshares in a research note on Friday, July 17th. Finally, Keefe, Bruyette & Woods lifted their target price on Commerce Bancshares from $60.00 to $62.00 and gave the company a "market perform" rating in a report on Monday, July 20th. Three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $63.50.

Commerce Bancshares Price Performance

The stock's 50 day moving average is $56.02 and its two-hundred day moving average is $54.50. The stock has a market capitalization of $7.91 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 2.35 and a beta of 0.61.

Commerce Bancshares's stock is set to split before the market opens on Tuesday, December 1st. The 1.05-1 split was recently announced. The newly issued shares will be issued to shareholders after the market closes on Monday, November 30th.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its quarterly earnings data on Tuesday, October 20th. The financial services provider reported $1.08 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.01. The business had revenue of $494.34 million for the quarter, compared to analyst estimates of $496.75 million. Commerce Bancshares had a net margin of 26.06% and a return on equity of 14.27%. During the same period last year, the business earned $1.06 EPS. On average, equities analysts predict that Commerce Bancshares, Inc. will post 4.27 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Tuesday, December 1st will be paid a $0.2750 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $1.10 dividend on an annualized basis and a yield of 2.0%. Commerce Bancshares's dividend payout ratio (DPR) is currently 26.51%.

Insiders Place Their Bets

In other Commerce Bancshares news, SVP Douglas Neff sold 666 shares of Commerce Bancshares stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $58.15, for a total transaction of $38,727.90. Following the completion of the sale, the senior vice president directly owned 11,746 shares of the company's stock, valued at $683,029.90. The trade was a 5.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP David Orf sold 642 shares of the company's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $60.35, for a total value of $38,744.70. Following the transaction, the vice president directly owned 24,962 shares of the company's stock, valued at approximately $1,506,456.70. This represents a 2.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Commerce Bancshares

Several hedge funds have recently added to or reduced their stakes in CBSH. Bank of America Corp DE acquired a new position in shares of Commerce Bancshares in the 2nd quarter valued at $83,328,000. Two Sigma Securities LLC acquired a new stake in Commerce Bancshares during the 2nd quarter worth $1,016,000. Public Employees Retirement System of Ohio acquired a new stake in Commerce Bancshares during the 2nd quarter worth $2,311,000. Dimensional Fund Advisors LP raised its stake in Commerce Bancshares by 29.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,943,247 shares of the financial services provider's stock worth $193,999,000 after acquiring an additional 894,183 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in Commerce Bancshares in the second quarter valued at $5,677,000. 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 headquartered in Kansas City, Missouri. Founded in 1865, it provides banking and financial services through its principal subsidiary, Commerce Bank. The company serves consumers, businesses, institutions and public-sector organizations. Its services include checking and savings accounts, lending, mortgage banking, treasury management, payment processing, and wealth management and trust services. Commerce Bank operates across several Midwestern and neighboring states, including Missouri, Kansas, Illinois, Oklahoma and Colorado.

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