Commerce Bancshares, Inc. (NASDAQ:CBSH) Given Average Recommendation of “Hold” by Brokerages

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have been given a consensus rating of “Hold” by the six ratings firms that are currently covering the company, MarketBeat.com reports. Six analysts have rated the stock with a hold rating. The average 1 year price target among brokers that have issued a report on the stock in the last year is $66.75.

Several research analysts have weighed in on CBSH shares. Piper Sandler set a $68.50 target price on Commerce Bancshares and gave the company a “neutral” rating in a research note on Friday, October 18th. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday. Morgan Stanley downgraded shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $66.00 to $64.00 in a research report on Monday, September 30th. Keefe, Bruyette & Woods boosted their price target on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, Raymond James downgraded shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th.

Commerce Bancshares Price Performance

CBSH stock opened at $61.74 on Tuesday. Commerce Bancshares has a 12 month low of $47.09 and a 12 month high of $72.75. The company has a market cap of $7.92 billion, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 2.92 and a beta of 0.79. The company has a fifty day moving average price of $67.47 and a 200 day moving average price of $63.22.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.07. The business had revenue of $421.38 million during the quarter, compared to the consensus estimate of $412.85 million. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. As a group, analysts anticipate that Commerce Bancshares will post 3.95 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd were issued a $0.27 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.75%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 28.13%.

Insider Activity

In other Commerce Bancshares news, EVP Kevin G. Barth sold 1,582 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $67.54, for a total value of $106,848.28. Following the sale, the executive vice president now owns 65,409 shares of the company’s stock, valued at $4,417,723.86. This represents a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Patricia R. Kellerhals sold 500 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $68.55, for a total transaction of $34,275.00. Following the transaction, the senior vice president now directly owns 22,265 shares of the company’s stock, valued at approximately $1,526,265.75. This trade represents a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 39,398 shares of company stock worth $2,504,665. Company insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Commerce Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. raised its holdings in shares of Commerce Bancshares by 10.8% in the second quarter. Victory Capital Management Inc. now owns 103,649 shares of the financial services provider’s stock worth $5,782,000 after acquiring an additional 10,076 shares during the last quarter. Private Advisor Group LLC acquired a new position in Commerce Bancshares in the 2nd quarter valued at about $697,000. Los Angeles Capital Management LLC purchased a new position in Commerce Bancshares in the 2nd quarter valued at about $270,000. Daiwa Securities Group Inc. boosted its stake in shares of Commerce Bancshares by 11.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 6,915 shares of the financial services provider’s stock worth $386,000 after purchasing an additional 723 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Commerce Bancshares by 19.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,069,924 shares of the financial services provider’s stock worth $115,453,000 after buying an additional 342,793 shares in the last quarter. Hedge funds and other 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.