Commerce Bancshares (NASDAQ:CBSH) Upgraded at StockNews.com

StockNews.com upgraded shares of Commerce Bancshares (NASDAQ:CBSH) from a sell rating to a hold rating in a report published on Monday morning.

Other equities research analysts have also issued reports about the stock. Morgan Stanley lowered shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and decreased their target price 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 Commerce Bancshares and gave the company a “neutral” rating in a research report on Friday, October 18th. Wells Fargo & Company raised their target price on Commerce Bancshares from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd. Raymond James downgraded Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $66.75.

Commerce Bancshares Stock Performance

NASDAQ CBSH opened at $64.31 on Monday. Commerce Bancshares has a one year low of $47.09 and a one year high of $72.75. The stock has a 50-day moving average of $67.47 and a 200 day moving average of $63.28. The company has a market capitalization of $8.25 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 3.38 and a beta of 0.79.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. The firm had revenue of $421.38 million during the quarter, compared to analyst estimates of $412.85 million. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. On average, equities analysts predict that Commerce Bancshares will post 3.92 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date was Tuesday, December 3rd. Commerce Bancshares’s payout ratio is 28.13%.

Insider Buying and Selling at Commerce Bancshares

In related news, Chairman David W. Kemper sold 30,000 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were 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 2.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Kevin G. Barth sold 1,582 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $67.54, for a total value of $106,848.28. Following the completion of the sale, the executive vice president now owns 65,409 shares of the company’s stock, valued at $4,417,723.86. The trade was a 2.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,398 shares of company stock valued at $2,504,665 over the last 90 days. 3.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CBSH. V Square Quantitative Management LLC purchased a new position in shares of Commerce Bancshares in the third quarter worth $26,000. Allworth Financial LP increased its holdings in 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 acquiring an additional 192 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in Commerce Bancshares in the 3rd quarter worth $39,000. True Wealth Design LLC bought a new position in shares of Commerce Bancshares during the 3rd quarter valued at about $47,000. Finally, Farther Finance Advisors LLC grew its position in shares of Commerce Bancshares by 48.2% during the third quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 287 shares in the last quarter. 70.26% of the stock is currently owned by 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.