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

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have been given a consensus recommendation of “Hold” by the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $61.79.

Several equities analysts recently issued reports on CBSH shares. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Morgan Stanley lowered shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $66.00 to $64.00 in a report on Monday, September 30th. Wells Fargo & Company boosted their target price on shares of Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a report on Monday, July 22nd. Jefferies Financial Group increased their price objective on shares of Commerce Bancshares from $60.00 to $62.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Finally, Piper Sandler set a $68.50 target price on Commerce Bancshares and gave the company a “neutral” rating in a research note on Friday, October 18th.

Commerce Bancshares Stock Performance

Shares of NASDAQ:CBSH opened at $63.58 on Thursday. The firm has a market cap of $8.20 billion, a PE ratio of 16.56, a price-to-earnings-growth ratio of 3.03 and a beta of 0.74. The firm’s fifty day moving average is $61.23 and its 200-day moving average is $58.60. Commerce Bancshares has a 52 week low of $40.91 and a 52 week high of $65.86.

Commerce Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.08 annualized dividend and a dividend yield of 1.70%. Commerce Bancshares’s dividend payout ratio is currently 28.13%.

Insiders Place Their Bets

In other Commerce Bancshares news, EVP John K. Handy sold 1,331 shares of Commerce Bancshares stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $63.80, for a total transaction of $84,917.80. Following the transaction, the executive vice president now owns 41,548 shares of the company’s stock, valued at $2,650,762.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related 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 transaction, the senior vice president now directly owns 25,381 shares in the company, valued at approximately $1,543,672.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John K. Handy sold 1,331 shares of Commerce Bancshares stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $63.80, for a total transaction of $84,917.80. Following the completion of the transaction, the executive vice president now owns 41,548 shares of the company’s stock, valued at $2,650,762.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,831 shares of company stock valued at $2,154,008 in the last 90 days. 3.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. V Square Quantitative Management LLC purchased a new position in Commerce Bancshares in the 3rd quarter valued at approximately $26,000. Allworth Financial LP grew its position in shares of Commerce Bancshares by 51.1% during the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 192 shares in the last quarter. Bessemer Group Inc. grew its position in shares of Commerce Bancshares by 86.3% during the 1st quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 390 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Commerce Bancshares by 156.5% during the 2nd quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 521 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position in shares of Commerce Bancshares by 48.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 287 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

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.