Insider Buying: Commerce Bancshares, Inc. (NASDAQ:CBSH) Director Purchases 5,000 Shares of Stock
Commerce Bancshares, Inc. (NASDAQ:CBSH – Get Rating) Director Blackford F. Brauer bought 5,000 shares of the company’s stock in a transaction dated Thursday, May 26th. The shares were purchased at an average cost of $68.31 per share, with a total value of $341,550.00. Following the acquisition, the director now directly owns 6,027 shares of the company’s stock, valued at approximately $411,704.37. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Commerce Bancshares stock traded up $0.22 during midday trading on Tuesday, reaching $68.97. The company’s stock had a trading volume of 10,845 shares, compared to its average volume of 405,637. Commerce Bancshares, Inc. has a 52 week low of $61.81 and a 52 week high of $74.92. The business has a 50-day moving average price of $69.76 and a 200-day moving average price of $70.17. The stock has a market cap of $8.33 billion, a PE ratio of 16.27 and a beta of 0.82.
Commerce Bancshares (NASDAQ:CBSH – Get Rating) last released its earnings results on Tuesday, April 19th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. Commerce Bancshares had a return on equity of 15.45% and a net margin of 36.83%. The firm had revenue of $340.60 million for the quarter, compared to analysts’ expectations of $348.21 million. During the same quarter in the previous year, the business posted $1.06 earnings per share. The business’s revenue for the quarter was down .4% on a year-over-year basis. Research analysts anticipate that Commerce Bancshares, Inc. will post 3.83 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 22nd. Stockholders of record on Tuesday, June 7th will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Monday, June 6th. Commerce Bancshares’s dividend payout ratio (DPR) is currently 25.09%.
A number of research analysts recently commented on CBSH shares. StockNews.com cut Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Monday, May 23rd. Zacks Investment Research cut Commerce Bancshares from a “buy” rating to a “hold” rating and set a $75.00 price target on the stock. in a research report on Monday, April 25th. Finally, Wells Fargo & Company upgraded Commerce Bancshares from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $60.00 to $70.00 in a research report on Monday, March 21st. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat, Commerce Bancshares has a consensus rating of “Hold” and a consensus price target of $68.72.
Large investors have recently added to or reduced their stakes in the company. California Public Employees Retirement System grew its holdings in shares of Commerce Bancshares by 2.5% during the fourth quarter. California Public Employees Retirement System now owns 243,876 shares of the financial services provider’s stock worth $16,764,000 after purchasing an additional 5,917 shares during the last quarter. Toronto Dominion Bank grew its holdings in shares of Commerce Bancshares by 783.9% during the fourth quarter. Toronto Dominion Bank now owns 11,800 shares of the financial services provider’s stock worth $811,000 after purchasing an additional 10,465 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Commerce Bancshares by 8.8% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 8,135 shares of the financial services provider’s stock worth $559,000 after acquiring an additional 660 shares during the period. Advisor Resource Council acquired a new position in shares of Commerce Bancshares in the fourth quarter worth approximately $284,000. Finally, ETF Managers Group LLC lifted its stake in shares of Commerce Bancshares by 10.2% in the fourth quarter. ETF Managers Group LLC now owns 9,411 shares of the financial services provider’s stock worth $649,000 after acquiring an additional 874 shares during the period. Institutional investors own 67.85% of the company’s stock.
About Commerce Bancshares (Get Rating)
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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