Commerce Bancshares, Inc. (NASDAQ:CBSH) Receives $68.43 Average Price Target from Analysts

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have received an average recommendation of “Hold” from the eleven ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $65.2857.

CBSH has been the subject of a number of analyst reports. Piper Sandler decreased their price objective on Commerce Bancshares from $70.00 to $63.00 and set a “neutral” rating for the company in a research note on Friday, October 17th. Cowen restated a “hold” rating on shares of Commerce Bancshares in a research report on Tuesday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Commerce Bancshares in a research note on Wednesday, October 8th. Zacks Research lowered shares of Commerce Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 27th. Finally, Wells Fargo & Company decreased their price objective on shares of Commerce Bancshares from $65.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC raised its position in shares of Commerce Bancshares by 191.0% during the first quarter. Smartleaf Asset Management LLC now owns 451 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 296 shares during the period. IMA Advisory Services Inc. acquired a new position in shares of Commerce Bancshares in the 1st quarter valued at approximately $29,000. Geneos Wealth Management Inc. increased its stake in 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. CoreFirst Bank & Trust acquired a new stake in Commerce Bancshares during the 2nd quarter worth approximately $33,000. Finally, Allworth Financial LP lifted its stake in Commerce Bancshares by 55.0% in the first quarter. Allworth Financial LP now owns 651 shares of the financial services provider’s stock valued at $40,000 after buying an additional 231 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Commerce Bancshares Trading Down 0.6%

Commerce Bancshares stock opened at $53.51 on Thursday. The company has a market cap of $7.14 billion, a PE ratio of 12.77, a PEG ratio of 4.84 and a beta of 0.59. Commerce Bancshares has a 1 year low of $52.11 and a 1 year high of $72.75. The company’s 50-day moving average is $59.51 and its two-hundred day moving average is $61.15.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.03). Commerce Bancshares had a net margin of 26.48% and a return on equity of 15.73%. The business had revenue of $440.97 million during the quarter, compared to analyst estimates of $447.04 million. During the same quarter in the prior year, the company earned $1.07 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Research analysts forecast that Commerce Bancshares will post 3.94 EPS for the current year.

Commerce Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th were issued a $0.275 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.10 annualized dividend and a dividend yield of 2.1%. Commerce Bancshares’s payout ratio is 26.25%.

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.