Commerce Bancshares (NASDAQ:CBSH) Sees Strong Trading Volume

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) saw an uptick in trading volume on Wednesday . 1,816,950 shares changed hands during mid-day trading, an increase of 255% from the previous session’s volume of 511,935 shares.The stock last traded at $63.63 and had previously closed at $62.93.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. Keefe, Bruyette & Woods upped their price objective on shares of Commerce Bancshares from $58.00 to $60.00 and gave the stock a “market perform” rating in a research report on Friday, May 10th. Jefferies Financial Group boosted their target price on shares of Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Finally, Morgan Stanley increased their price target on shares of Commerce Bancshares from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $60.00.

Commerce Bancshares Stock Performance

The firm has a market cap of $8.19 billion, a P/E ratio of 17.71, a P/E/G ratio of 10.46 and a beta of 0.76. The company’s 50 day moving average is $59.71 and its 200 day moving average is $55.70.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.17. The company had revenue of $414.90 million during the quarter, compared to analysts’ expectations of $406.88 million. Commerce Bancshares had a return on equity of 16.50% and a net margin of 23.62%. Commerce Bancshares’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.97 EPS. On average, equities research analysts anticipate that Commerce Bancshares, Inc. will post 3.94 EPS for the current year.

Commerce Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Thursday, September 5th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Thursday, September 5th. Commerce Bancshares’s dividend payout ratio (DPR) is presently 30.12%.

Insider Activity at Commerce Bancshares

In other news, CEO John W. Kemper sold 5,156 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $65.22, for a total transaction of $336,274.32. Following the completion of the sale, the chief executive officer now owns 198,298 shares of the company’s stock, valued at approximately $12,932,995.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO John W. Kemper sold 5,156 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $65.22, for a total transaction of $336,274.32. Following the transaction, the chief executive officer now directly owns 198,298 shares of the company’s stock, valued at $12,932,995.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan M. Kemper sold 19,626 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $63.66, for a total transaction of $1,249,391.16. Following the completion of the sale, the director now owns 997,112 shares of the company’s stock, valued at approximately $63,476,149.92. The disclosure for this sale can be found here. Insiders have sold a total of 46,281 shares of company stock worth $2,975,232 over the last quarter. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. lifted its stake in Commerce Bancshares by 0.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 30,906 shares of the financial services provider’s stock valued at $1,724,000 after purchasing an additional 154 shares during the last quarter. MTM Investment Management LLC increased its holdings in Commerce Bancshares by 0.3% in the 1st quarter. MTM Investment Management LLC now owns 60,130 shares of the financial services provider’s stock worth $3,199,000 after acquiring an additional 199 shares during the last quarter. Signaturefd LLC raised its stake in Commerce Bancshares by 14.4% in the 4th quarter. Signaturefd LLC now owns 1,694 shares of the financial services provider’s stock valued at $90,000 after acquiring an additional 213 shares during the period. Angeles Investment Advisors LLC lifted its holdings in Commerce Bancshares by 5.0% during the fourth quarter. Angeles Investment Advisors LLC now owns 4,557 shares of the financial services provider’s stock valued at $243,000 after purchasing an additional 217 shares during the last quarter. Finally, Missouri Trust & Investment Co boosted its position in Commerce Bancshares by 5.0% during the fourth quarter. Missouri Trust & Investment Co now owns 5,138 shares of the financial services provider’s stock worth $274,000 after purchasing an additional 244 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

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.