Commerce Bancshares, Inc. (NASDAQ:CBSH) Given Average Rating of “Hold” by Brokerages

Commerce Bancshares, Inc. (NASDAQ:CBSH) has earned a consensus recommendation of “Hold” from the seven analysts that are presently covering the company, Marketbeat reports. Seven research analysts have rated the stock with a hold rating. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $65.07.

Several equities analysts have recently commented on CBSH shares. Piper Sandler set a $68.50 price target on shares of Commerce Bancshares and gave the stock a “neutral” rating in a research report on Friday, October 18th. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Wells Fargo & Company lifted their price target on Commerce Bancshares from $62.00 to $67.00 and gave the company an “equal weight” rating in a report on Tuesday, December 3rd. Raymond James downgraded Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods raised their target price on Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

Insiders Place Their Bets

In other Commerce Bancshares news, SVP David L. Roller sold 890 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $72.27, for a total value of $64,320.30. Following the transaction, the senior vice president now directly owns 30,949 shares of the company’s stock, valued at $2,236,684.23. This represents a 2.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Patricia R. Kellerhals sold 500 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $68.55, for a total value of $34,275.00. Following the sale, the senior vice president now directly owns 22,265 shares of the company’s stock, valued at $1,526,265.75. This trade represents a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,398 shares of company stock worth $2,504,665. 3.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Commerce Bancshares

Several hedge funds have recently bought and sold shares of CBSH. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Commerce Bancshares by 0.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 30,906 shares of the financial services provider’s stock worth $1,724,000 after buying an additional 154 shares during the last quarter. Sound Stewardship LLC lifted its position in Commerce Bancshares by 3.9% during the 3rd quarter. Sound Stewardship LLC now owns 4,339 shares of the financial services provider’s stock worth $258,000 after acquiring an additional 163 shares during the last quarter. Allworth Financial LP boosted its holdings in Commerce Bancshares by 51.1% during the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 192 shares during the period. Outlook Wealth Advisors LLC grew its position in shares of Commerce Bancshares by 3.6% in the third quarter. Outlook Wealth Advisors LLC now owns 6,303 shares of the financial services provider’s stock valued at $374,000 after purchasing an additional 217 shares during the last quarter. Finally, Marshall Financial Group LLC increased its stake in shares of Commerce Bancshares by 1.2% in the third quarter. Marshall Financial Group LLC now owns 18,257 shares of the financial services provider’s stock worth $1,084,000 after purchasing an additional 223 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Commerce Bancshares Stock Up 0.9 %

NASDAQ:CBSH opened at $63.31 on Friday. The company has a market cap of $8.12 billion, a PE ratio of 16.49, a P/E/G ratio of 2.92 and a beta of 0.77. The business’s 50 day moving average is $67.33 and its two-hundred day moving average is $62.36. Commerce Bancshares has a 52 week low of $47.09 and a 52 week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.07. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. The firm had revenue of $421.38 million during the quarter, compared to analyst estimates of $412.85 million. As a group, sell-side analysts expect that Commerce Bancshares will post 3.95 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.71%. Commerce Bancshares’s dividend payout ratio is 28.13%.

About Commerce Bancshares

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.