Investment Analysts’ Weekly Ratings Changes for Commerce Bancshares (CBSH)

A number of research firms have changed their ratings and price targets for Commerce Bancshares (NASDAQ: CBSH):

• 4/17/2024 – Commerce Bancshares was upgraded by analysts at Raymond James from a “market perform” rating to an “outperform” rating. They now have a $61.00 price target on the stock.
• 4/17/2024 – Commerce Bancshares had its price target raised by analysts at Piper Sandler from $53.00 to $54.00. They now have a “neutral” rating on the stock.
• 4/17/2024 – Commerce Bancshares had its price target raised by analysts at Keefe, Bruyette & Woods from $56.00 to $58.00. They now have a “market perform” rating on the stock.
• 4/17/2024 – Commerce Bancshares was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.

Commerce Bancshares Stock Performance

Commerce Bancshares stock opened at $55.76 on Thursday. Commerce Bancshares, Inc. has a one year low of $40.91 and a one year high of $56.75. The business has a fifty day moving average of $52.61 and a two-hundred day moving average of $51.41. The company has a market cap of $7.24 billion, a P/E ratio of 15.53 and a beta of 0.79.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.06. The business had revenue of $397.80 million during the quarter, compared to the consensus estimate of $389.49 million. Commerce Bancshares had a return on equity of 16.78% and a net margin of 23.33%. The business’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.90 EPS. Sell-side analysts predict that Commerce Bancshares, Inc. will post 3.43 EPS for the current year.

Commerce Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Wednesday, June 5th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Wednesday, June 5th. Commerce Bancshares’s dividend payout ratio (DPR) is presently 30.08%.

Insider Transactions at Commerce Bancshares

In other news, EVP Robert S. Holmes sold 5,000 shares of Commerce Bancshares stock in a transaction 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 completion of the transaction, the executive vice president now owns 50,293 shares of the company’s stock, valued at approximately $2,648,429.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP David L. Roller sold 1,392 shares of Commerce Bancshares stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $50.62, for a total transaction of $70,463.04. Following the completion of the sale, the senior vice president now owns 30,949 shares in the company, valued at approximately $1,566,638.38. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Robert S. Holmes sold 5,000 shares of Commerce Bancshares stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $52.66, for a total value of $263,300.00. Following the sale, the executive vice president now owns 50,293 shares of the company’s stock, valued at approximately $2,648,429.38. The disclosure for this sale can be found here. Insiders sold 9,876 shares of company stock valued at $510,441 in the last 90 days. 3.20% of the stock is currently owned by insiders.

Institutional Trading of Commerce Bancshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its position in Commerce Bancshares by 16.5% during the 3rd quarter. Victory Capital Management Inc. now owns 130,936 shares of the financial services provider’s stock worth $6,282,000 after purchasing an additional 18,535 shares in the last quarter. Mutual Advisors LLC increased its position in Commerce Bancshares by 3.9% during the 3rd quarter. Mutual Advisors LLC now owns 417,063 shares of the financial services provider’s stock worth $20,011,000 after purchasing an additional 15,508 shares in the last quarter. Handelsinvest Investeringsforvaltning purchased a new stake in Commerce Bancshares during the 4th quarter worth about $526,000. Stifel Financial Corp increased its position in Commerce Bancshares by 23.0% during the 3rd quarter. Stifel Financial Corp now owns 110,881 shares of the financial services provider’s stock worth $5,322,000 after purchasing an additional 20,737 shares in the last quarter. Finally, Eukles Asset Management grew its holdings in Commerce Bancshares by 4.0% in the 4th quarter. Eukles Asset Management now owns 8,986 shares of the financial services provider’s stock valued at $480,000 after buying an additional 345 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

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.