Commerce Bancshares, Inc. (NASDAQ:CBSH) Receives $60.00 Average Target Price from Analysts

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have earned a consensus recommendation of “Hold” from the seven research firms that are covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $60.00.

Several research firms have weighed in on CBSH. Morgan Stanley lifted their price objective on Commerce Bancshares from $58.00 to $66.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Keefe, Bruyette & Woods lifted their price target on Commerce Bancshares from $58.00 to $60.00 and gave the company a “market perform” rating in a research report on Friday, May 10th. Wells Fargo & Company increased their price objective on Commerce Bancshares from $52.00 to $62.00 and gave the stock an “equal weight” rating in a report on Monday, July 22nd. Finally, Jefferies Financial Group boosted their target price on shares of Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd.

Insider Transactions at Commerce Bancshares

In other news, SVP Patricia R. Kellerhals sold 1,500 shares of Commerce Bancshares stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $60.82, for a total value of $91,230.00. Following the completion of the sale, the senior vice president now directly owns 25,381 shares in the company, valued at $1,543,672.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Charles G. Kim sold 5,282 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $65.00, for a total value of $343,330.00. Following the transaction, the chief financial officer now directly owns 89,472 shares of the company’s stock, valued at approximately $5,815,680. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Patricia R. Kellerhals sold 1,500 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $60.82, for a total value of $91,230.00. Following the sale, the senior vice president now directly owns 25,381 shares of the company’s stock, valued at approximately $1,543,672.42. The disclosure for this sale can be found here. Insiders sold a total of 46,281 shares of company stock valued at $2,975,232 in the last quarter. 3.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CBSH. Clarity Asset Management Inc. purchased a new position in shares of Commerce Bancshares during the 4th quarter valued at $43,000. Bessemer Group Inc. lifted its position in shares of Commerce Bancshares by 86.3% in the first quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 390 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Commerce Bancshares by 156.5% in the second quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 521 shares during the period. Eagle Bay Advisors LLC grew its holdings in Commerce Bancshares by 2,864.7% during the 2nd quarter. Eagle Bay Advisors LLC now owns 1,008 shares of the financial services provider’s stock valued at $56,000 after buying an additional 974 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Commerce Bancshares by 93.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,670 shares of the financial services provider’s stock valued at $89,000 after buying an additional 805 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Commerce Bancshares Stock Performance

Shares of CBSH opened at $62.29 on Friday. The firm has a 50 day moving average price of $58.61 and a 200-day moving average price of $55.21. Commerce Bancshares has a fifty-two week low of $40.91 and a fifty-two week high of $65.86. The firm has a market cap of $8.07 billion, a price-to-earnings ratio of 17.35, a PEG ratio of 9.96 and a beta of 0.76.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.17. The firm had revenue of $414.90 million for the quarter, compared to analyst estimates of $406.88 million. Commerce Bancshares had a return on equity of 16.50% and a net margin of 23.62%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the company earned $0.97 EPS. As a group, equities research analysts predict that Commerce Bancshares will post 3.95 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Thursday, September 5th will be paid a $0.27 dividend. The ex-dividend date is Thursday, September 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.73%. Commerce Bancshares’s dividend payout ratio is currently 30.08%.

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.