Commerce Bancshares, Inc. (NASDAQ:CBSH) Receives $53.17 Average PT from Brokerages

Commerce Bancshares, Inc. (NASDAQ:CBSH) has received a consensus recommendation of “Hold” from the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $55.00.

Several equities research analysts have recently weighed in on the stock. Bank of America assumed coverage on shares of Commerce Bancshares in a research note on Thursday, January 11th. They set a “neutral” rating and a $55.00 target price for the company. Piper Sandler increased their target price on shares of Commerce Bancshares from $53.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday. Keefe, Bruyette & Woods increased their target price on shares of Commerce Bancshares from $56.00 to $58.00 and gave the stock a “market perform” rating in a research note on Wednesday. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Raymond James raised shares of Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 price target for the company in a report on Wednesday.

Insider Buying and Selling at Commerce Bancshares

In other news, SVP Douglas D. Neff sold 614 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $50.25, for a total transaction of $30,853.50. Following the completion of the transaction, the senior vice president now directly owns 8,038 shares of the company’s stock, valued at approximately $403,909.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Douglas D. Neff sold 614 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $50.25, for a total transaction of $30,853.50. Following the completion of the transaction, the senior vice president now directly owns 8,038 shares of the company’s stock, valued at approximately $403,909.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Robert S. Holmes sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $52.66, for a total transaction of $263,300.00. Following the transaction, the executive vice president now directly owns 50,293 shares of the company’s stock, valued at $2,648,429.38. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,321 shares of company stock valued at $752,387. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Commerce Bancshares

A number of hedge funds have recently made changes to their positions in the stock. Moneta Group Investment Advisors LLC boosted its holdings in shares of Commerce Bancshares by 102,920.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 133,790,172 shares of the financial services provider’s stock valued at $9,107,097,000 after purchasing an additional 133,660,305 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Commerce Bancshares by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 12,372,518 shares of the financial services provider’s stock valued at $660,816,000 after acquiring an additional 558,017 shares during the period. BlackRock Inc. raised its stake in shares of Commerce Bancshares by 2.0% in the 1st quarter. BlackRock Inc. now owns 10,934,079 shares of the financial services provider’s stock valued at $638,003,000 after acquiring an additional 217,024 shares during the period. State Street Corp raised its stake in shares of Commerce Bancshares by 18.9% in the 2nd quarter. State Street Corp now owns 7,736,375 shares of the financial services provider’s stock valued at $376,761,000 after acquiring an additional 1,227,825 shares during the period. Finally, Commerce Bank raised its stake in shares of Commerce Bancshares by 2.8% in the 4th quarter. Commerce Bank now owns 7,222,818 shares of the financial services provider’s stock valued at $385,771,000 after acquiring an additional 196,431 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Commerce Bancshares Price Performance

NASDAQ CBSH opened at $53.10 on Friday. Commerce Bancshares has a 1 year low of $40.91 and a 1 year high of $56.75. The company has a market capitalization of $6.90 billion, a PE ratio of 14.81 and a beta of 0.79. The company has a fifty day moving average of $52.02 and a two-hundred day moving average of $50.93.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.06. Commerce Bancshares had a net margin of 23.33% and a return on equity of 16.78%. The company had revenue of $397.80 million during the quarter, compared to the consensus estimate of $389.49 million. During the same quarter in the prior year, the firm posted $0.90 earnings per share. Commerce Bancshares’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, research analysts expect that Commerce Bancshares will post 3.24 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Wednesday, June 5th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.03%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 30.12%.

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.