Commerce Bancshares (NASDAQ:CBSH) Hits New 12-Month High – What’s Next?

Commerce Bancshares, Inc. (NASDAQ:CBSH) reached a new 52-week high during trading on Wednesday . The company traded as high as $73.07 and last traded at $73.07, with a volume of 13383 shares trading hands. The stock had previously closed at $72.26.

Analyst Ratings Changes

CBSH has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price objective on shares of Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Morgan Stanley downgraded shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $66.00 to $64.00 in a research note on Monday, September 30th. Piper Sandler set a $68.50 price objective on shares of Commerce Bancshares and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $61.79.

Commerce Bancshares Stock Performance

The firm has a market cap of $9.33 billion, a PE ratio of 18.82, a PEG ratio of 3.89 and a beta of 0.73. The stock has a fifty day moving average price of $61.88 and a 200-day moving average price of $59.45.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. The business had revenue of $421.38 million during the quarter, compared to analysts’ expectations of $412.85 million. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. As a group, equities analysts predict that Commerce Bancshares, Inc. will post 4.02 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Tuesday, December 3rd. Commerce Bancshares’s dividend payout ratio is currently 28.13%.

Insider Activity at Commerce Bancshares

In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 2,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $62.23, for a total value of $124,460.00. Following the sale, the senior vice president now directly owns 23,381 shares of the company’s stock, valued at $1,454,999.63. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Chairman David W. Kemper sold 30,000 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $61.78, for a total value of $1,853,400.00. Following the completion of the transaction, the chairman now owns 1,151,994 shares of the company’s stock, valued at approximately $71,170,189.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Patricia R. Kellerhals sold 2,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $62.23, for a total value of $124,460.00. Following the transaction, the senior vice president now directly owns 23,381 shares of the company’s stock, valued at $1,454,999.63. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,331 shares of company stock valued at $2,062,778. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CBSH. Cambridge Investment Research Advisors Inc. boosted its position in shares of Commerce Bancshares by 0.5% in the 2nd 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 period. Sound Stewardship LLC boosted its position in shares of Commerce Bancshares by 3.9% in the 3rd quarter. Sound Stewardship LLC now owns 4,339 shares of the financial services provider’s stock valued at $258,000 after purchasing an additional 163 shares during the period. Allworth Financial LP boosted its position in shares of Commerce Bancshares by 51.1% in the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 192 shares during the period. Outlook Wealth Advisors LLC boosted its position in shares of Commerce Bancshares by 3.6% in the 3rd quarter. Outlook Wealth Advisors LLC now owns 6,303 shares of the financial services provider’s stock valued at $374,000 after purchasing an additional 217 shares during the period. Finally, Marshall Financial Group LLC boosted its position in shares of Commerce Bancshares by 1.2% in the 3rd quarter. Marshall Financial Group LLC now owns 18,257 shares of the financial services provider’s stock valued at $1,084,000 after purchasing an additional 223 shares during the period. Institutional investors own 70.26% of the company’s stock.

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.