Commerce Bancshares, Inc. (NASDAQ:CBSH) Receives $55.29 Consensus PT from Analysts

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have been assigned an average rating of “Hold” from the six brokerages that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $55.29.

A number of research firms recently weighed in on CBSH. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. Raymond James raised Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 target price for the company in a report on Wednesday, April 17th. Keefe, Bruyette & Woods boosted their price target on Commerce Bancshares from $58.00 to $60.00 and gave the company a “market perform” rating in a research note on Friday, May 10th. Finally, Piper Sandler increased their price objective on Commerce Bancshares from $53.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th.

Commerce Bancshares Stock Performance

NASDAQ CBSH opened at $55.78 on Friday. Commerce Bancshares has a twelve month low of $40.91 and a twelve month high of $57.48. The stock has a market cap of $7.23 billion, a PE ratio of 15.56, a PEG ratio of 1.81 and a beta of 0.76. The firm has a 50-day simple moving average of $55.10 and a 200 day simple moving average of $53.48.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. The business had revenue of $397.80 million during the quarter, compared to analyst estimates of $389.49 million. Commerce Bancshares had a return on equity of 16.78% and a net margin of 23.33%. Commerce Bancshares’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 earnings per share. Research analysts forecast that Commerce Bancshares will post 3.57 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Wednesday, June 5th were issued a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.94%. Commerce Bancshares’s dividend payout ratio is 30.12%.

Insiders Place Their Bets

In other Commerce Bancshares news, CEO John W. Kemper sold 26,581 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $56.77, for a total transaction of $1,509,003.37. Following the completion of the sale, the chief executive officer now directly owns 198,387 shares of the company’s stock, valued at approximately $11,262,429.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. MTM Investment Management LLC increased its holdings in Commerce Bancshares by 0.3% during the 1st quarter. MTM Investment Management LLC now owns 60,130 shares of the financial services provider’s stock worth $3,199,000 after purchasing an additional 199 shares in the last quarter. Capital Advisors Inc. OK grew its position in Commerce Bancshares by 5.0% during the fourth quarter. Capital Advisors Inc. OK now owns 4,431 shares of the financial services provider’s stock worth $237,000 after buying an additional 210 shares in the last quarter. Signaturefd LLC increased its stake in Commerce Bancshares by 14.4% during the 4th quarter. Signaturefd LLC now owns 1,694 shares of the financial services provider’s stock worth $90,000 after acquiring an additional 213 shares during the period. Angeles Investment Advisors LLC raised its holdings in Commerce Bancshares by 5.0% in the 4th quarter. Angeles Investment Advisors LLC now owns 4,557 shares of the financial services provider’s stock valued at $243,000 after acquiring an additional 217 shares in the last quarter. Finally, Missouri Trust & Investment Co lifted its position in shares of Commerce Bancshares by 5.0% during the 4th quarter. Missouri Trust & Investment Co now owns 5,138 shares of the financial services provider’s stock valued at $274,000 after acquiring an additional 244 shares during the period. Institutional investors own 70.26% of the company’s stock.

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.