Insider Buying: Commerce Bancshares, Inc. (NASDAQ:CBSH) Director Buys 5,000 Shares of Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) Director Blackford F. Brauer purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was bought at an average price of $48.10 per share, for a total transaction of $240,500.00. Following the acquisition, the director now owns 33,426 shares of the company’s stock, valued at $1,607,790.60. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Commerce Bancshares Stock Up 0.4 %

Shares of CBSH stock traded up $0.19 during trading hours on Tuesday, hitting $48.15. 581,941 shares of the company’s stock traded hands, compared to its average volume of 564,915. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.37. The stock’s fifty day simple moving average is $50.59 and its two-hundred day simple moving average is $52.26. Commerce Bancshares, Inc. has a 12-month low of $45.55 and a 12-month high of $72.60. The stock has a market cap of $6.00 billion, a price-to-earnings ratio of 12.09 and a beta of 0.75.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.08. Commerce Bancshares had a return on equity of 19.64% and a net margin of 28.39%. The business had revenue of $397.10 million during the quarter, compared to analysts’ expectations of $391.15 million. During the same quarter in the previous year, the business earned $0.91 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, analysts expect that Commerce Bancshares, Inc. will post 3.72 EPS for the current year.

Commerce Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 25th. Investors of record on Wednesday, September 6th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.24%. The ex-dividend date is Tuesday, September 5th. Commerce Bancshares’s dividend payout ratio (DPR) is 27.13%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CBSH. Moneta Group Investment Advisors LLC increased its position in shares of Commerce Bancshares by 102,920.9% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 133,790,172 shares of the financial services provider’s stock valued at $9,107,097,000 after acquiring an additional 133,660,305 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Commerce Bancshares by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 11,332,270 shares of the financial services provider’s stock worth $749,743,000 after purchasing an additional 117,162 shares in the last quarter. BlackRock Inc. raised its stake in shares of Commerce Bancshares by 2.0% in the first quarter. BlackRock Inc. now owns 10,934,079 shares of the financial services provider’s stock worth $638,003,000 after purchasing an additional 217,024 shares during the last quarter. State Street Corp lifted its holdings in shares of Commerce Bancshares by 18.9% during the second quarter. State Street Corp now owns 7,736,375 shares of the financial services provider’s stock valued at $376,761,000 after purchasing an additional 1,227,825 shares in the last quarter. Finally, Commerce Bank boosted its position in shares of Commerce Bancshares by 0.8% during the first quarter. Commerce Bank now owns 7,028,683 shares of the financial services provider’s stock valued at $410,124,000 after buying an additional 58,123 shares during the last quarter. 69.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CBSH has been the topic of a number of research reports. TheStreet lowered shares of Commerce Bancshares from a “b-” rating to a “c+” rating in a research note on Wednesday, May 24th. StockNews.com initiated coverage on Commerce Bancshares in a research note on Thursday, August 17th. They issued a “sell” rating for the company. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $60.75.

Commerce Bancshares Company Profile

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.