Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock Has Consensus Price Target of $63.64

Commerce Bancshares, Inc. (NASDAQ:CBSH) has earned a consensus rating of “Hold” from the ten research firms that are covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $63.64.

A number of analysts have commented on CBSH shares. Weiss Ratings raised shares of Commerce Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 16th. Wells Fargo & Company set a $61.00 price target on Commerce Bancshares and gave the company an “equal weight” rating in a research report on Tuesday, September 29th. Morgan Stanley raised their price objective on Commerce Bancshares from $76.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, September 28th. Wall Street Zen raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Sunday, October 11th. Finally, Stephens set a $62.00 price objective on shares of Commerce Bancshares and gave the company an “equal weight” rating in a research report on Wednesday, October 21st.

Insider Buying and Selling

In other news, VP David Orf sold 642 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $60.35, for a total transaction of $38,744.70. Following the transaction, the vice president owned 24,962 shares in the company, valued at $1,506,456.70. This represents a 2.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Douglas Neff sold 666 shares of the company’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $58.15, for a total value of $38,727.90. Following the sale, the senior vice president owned 11,746 shares of the company’s stock, valued at approximately $683,029.90. This trade represents a 5.37% decrease in their position. The SEC filing for this sale provides additional information. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Commerce Bancshares

A number of hedge funds have recently bought and sold shares of CBSH. BlackRock Inc. bought a new stake in Commerce Bancshares in the second quarter worth approximately $755,669,000. Commerce Bank purchased a new position in Commerce Bancshares in the second quarter worth $316,010,000. Dimensional Fund Advisors LP grew its holdings in shares of Commerce Bancshares by 29.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,943,247 shares of the financial services provider’s stock valued at $193,999,000 after purchasing an additional 894,183 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Commerce Bancshares by 11.0% in the first quarter. First Trust Advisors LP now owns 2,610,223 shares of the financial services provider’s stock worth $128,423,000 after buying an additional 257,817 shares during the period. Finally, Bank of America Corp DE bought a new position in Commerce Bancshares during the 2nd quarter valued at approximately $83,328,000. 70.26% of the stock is currently owned by institutional investors.

Commerce Bancshares Stock Down 1.0%

NASDAQ:CBSH opened at $55.06 on Monday. The business’s 50-day moving average price is $56.40 and its 200 day moving average price is $54.44. Commerce Bancshares has a 52-week low of $46.99 and a 52-week high of $60.92. The firm has a market cap of $7.90 billion, a P/E ratio of 13.27, a PEG ratio of 1.68 and a beta of 0.60.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.01. Commerce Bancshares had a net margin of 26.06% and a return on equity of 14.27%. The company had revenue of $494.34 million during the quarter, compared to the consensus estimate of $496.75 million. During the same period in the prior year, the company earned $1.06 EPS. Sell-side analysts expect that Commerce Bancshares will post 4.27 EPS for the current year.

About Commerce Bancshares

Commerce Bancshares, Inc is a financial holding company headquartered in Kansas City, Missouri. Founded in 1865, the company operates Commerce Bank, which provides banking and related financial services to individuals, businesses, institutions and government entities.

Commerce Bank offers deposit accounts, consumer and commercial lending, mortgages, treasury and payment services, credit cards, investment management, trust services and institutional banking solutions. Its businesses also include capital markets and brokerage services, supporting corporate, municipal and institutional clients.

The bank serves customers primarily through a regional network spanning Missouri, Kansas, Illinois, Oklahoma and Colorado, along with digital banking channels.