Commerce Bancshares, Inc. (NASDAQ:CBSH) Receives $66.75 Consensus Target Price from Analysts

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have been given a consensus recommendation of “Hold” by the six analysts that are presently covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $66.75.

A number of equities analysts have commented on CBSH shares. Raymond James downgraded shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Wells Fargo & Company lifted their price objective on Commerce Bancshares from $62.00 to $67.00 and gave the company an “equal weight” rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods increased their target price on Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler set a $68.50 price target on Commerce Bancshares and gave the company a “neutral” rating in a research note on Friday, October 18th.

Insider Buying and Selling at Commerce Bancshares

In other news, Chairman David W. Kemper sold 30,000 shares of Commerce Bancshares stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $61.78, for a total transaction of $1,853,400.00. Following the completion of the sale, the chairman now directly owns 1,151,994 shares in the company, valued at $71,170,189.32. The trade was a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP David L. Roller sold 890 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $72.27, for a total transaction of $64,320.30. Following the transaction, the senior vice president now directly owns 30,949 shares in the company, valued at $2,236,684.23. The trade was a 2.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,398 shares of company stock valued at $2,504,665 over the last quarter. Corporate insiders own 3.10% of the company’s stock.

Institutional Trading of Commerce Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in shares of Commerce Bancshares in the third quarter valued at $26,000. Allworth Financial LP grew its holdings in Commerce Bancshares by 51.1% in the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after buying an additional 192 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of Commerce Bancshares during the 3rd quarter valued at about $39,000. True Wealth Design LLC purchased a new position in shares of Commerce Bancshares during the 3rd quarter worth about $47,000. Finally, Farther Finance Advisors LLC boosted its position in shares of Commerce Bancshares by 48.2% in the third quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 287 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Commerce Bancshares Stock Up 1.7 %

NASDAQ CBSH opened at $64.85 on Tuesday. The business’s 50-day moving average price is $67.18 and its 200 day moving average price is $63.41. The firm has a market cap of $8.32 billion, a P/E ratio of 16.89, a P/E/G ratio of 3.38 and a beta of 0.79. 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.07. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. The business had revenue of $421.38 million for the quarter, compared to analyst estimates of $412.85 million. As a group, analysts anticipate that Commerce Bancshares will post 3.92 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend was Tuesday, December 3rd. Commerce Bancshares’s dividend payout ratio (DPR) is presently 28.13%.

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.