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

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have earned an average recommendation of “Hold” from the seven research firms that are presently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $61.79.

Several brokerages have recently issued reports on CBSH. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Morgan Stanley lowered 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 report on Monday, September 30th. Finally, Piper Sandler set a $68.50 price objective on Commerce Bancshares and gave the stock a “neutral” rating in a report on Friday, October 18th.

Commerce Bancshares Price Performance

Shares of Commerce Bancshares stock opened at $73.75 on Monday. Commerce Bancshares has a 1 year low of $47.28 and a 1 year high of $76.39. The firm has a market cap of $9.46 billion, a PE ratio of 19.21, a P/E/G ratio of 3.99 and a beta of 0.73. The stock has a fifty day moving average price of $64.43 and a 200-day moving average price of $60.79.

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

Commerce Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.46%. The ex-dividend date is Tuesday, December 3rd. Commerce Bancshares’s dividend payout ratio (DPR) is currently 28.13%.

Insiders Place Their Bets

In other Commerce Bancshares news, Chairman David W. Kemper sold 30,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $71,170,189.32. This trade represents a 2.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Patricia R. Kellerhals sold 2,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $62.23, for a total value of $124,460.00. Following the completion of the transaction, the senior vice president now owns 23,381 shares of the company’s stock, valued at approximately $1,454,999.63. This represents a 7.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,109 shares of company stock worth $2,191,123 in the last quarter. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CBSH. V Square Quantitative Management LLC bought a new stake in shares of Commerce Bancshares during the 3rd quarter valued at about $26,000. Allworth Financial LP boosted its position in shares of Commerce Bancshares by 51.1% during 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 bought a new stake in shares of Commerce Bancshares during the 3rd quarter valued at about $39,000. Bessemer Group Inc. boosted its position in shares of Commerce Bancshares by 86.3% during the 1st quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 390 shares during the last quarter. Finally, True Wealth Design LLC bought a new stake in shares of Commerce Bancshares during the 3rd quarter valued at about $47,000. Institutional investors own 70.26% of the company’s stock.

About Commerce Bancshares

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.