Commerce Bancshares, Inc. (NASDAQ:CBSH) Receives $62.03 Average PT from Analysts

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have been assigned an average recommendation of “Reduce” from the nine research firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $61.7483.

Several research analysts recently commented on CBSH shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Commerce Bancshares in a research report on Monday, December 29th. TD Cowen reduced their price objective on shares of Commerce Bancshares from $61.00 to $55.00 and set a “hold” rating for the company in a report on Wednesday, January 7th. Wells Fargo & Company lowered their target price on shares of Commerce Bancshares from $61.90 to $57.14 and set an “equal weight” rating on the stock in a research note on Tuesday, October 21st. Wall Street Zen lowered shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Finally, Keefe, Bruyette & Woods decreased their price objective on Commerce Bancshares from $61.90 to $57.14 and set a “market perform” rating on the stock in a report on Friday, October 17th.

Institutional Investors Weigh In On Commerce Bancshares

Institutional investors and hedge funds have recently made changes to their positions in the company. Geneos Wealth Management Inc. increased its position in shares of Commerce Bancshares by 85.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 216 shares in the last quarter. GAMMA Investing LLC grew its stake in Commerce Bancshares by 15.9% during the second quarter. GAMMA Investing LLC now owns 2,177 shares of the financial services provider’s stock worth $135,000 after buying an additional 299 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Commerce Bancshares by 0.5% during the second quarter. Public Employees Retirement System of Ohio now owns 39,371 shares of the financial services provider’s stock worth $2,448,000 after buying an additional 190 shares in the last quarter. Signaturefd LLC raised its stake in shares of Commerce Bancshares by 13.8% in the second quarter. Signaturefd LLC now owns 2,036 shares of the financial services provider’s stock valued at $127,000 after acquiring an additional 247 shares during the last quarter. Finally, Claris Advisors LLC MO acquired a new position in shares of Commerce Bancshares in the 2nd quarter worth approximately $446,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Commerce Bancshares Stock Performance

NASDAQ CBSH opened at $52.66 on Friday. Commerce Bancshares has a twelve month low of $48.69 and a twelve month high of $65.59. The stock has a market cap of $6.97 billion, a PE ratio of 12.57, a PEG ratio of 2.59 and a beta of 0.62. The firm has a 50-day simple moving average of $52.86 and a 200 day simple moving average of $54.89.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.99 by $0.02. Commerce Bancshares had a return on equity of 15.51% and a net margin of 26.51%.The firm had revenue of $449.36 million during the quarter, compared to analysts’ expectations of $442.47 million. During the same quarter in the prior year, the firm posted $1.01 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. Research analysts forecast that Commerce Bancshares will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Tuesday, December 2nd were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Tuesday, December 2nd. Commerce Bancshares’s dividend payout ratio is 26.25%.

About Commerce Bancshares

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.