Commerce Bancshares, Inc. (NASDAQ:CBSH) Receives $61.79 Consensus PT from Analysts

Commerce Bancshares, Inc. (NASDAQ:CBSH) has been given a consensus recommendation of “Hold” by the seven analysts that are currently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $61.79.

A number of brokerages have recently issued reports on CBSH. Morgan Stanley lowered shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $66.00 to $64.00 in a research note on Monday, September 30th. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, Piper Sandler set a $68.50 target price on Commerce Bancshares and gave the stock a “neutral” rating in a research note on Friday, October 18th.

Commerce Bancshares Trading Down 0.2 %

Commerce Bancshares stock opened at $73.75 on Monday. The stock has a 50 day moving average of $64.66 and a two-hundred day moving average of $60.94. Commerce Bancshares has a twelve month low of $47.28 and a twelve month high of $76.39. The stock has a market capitalization of $9.46 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 3.98 and a beta of 0.73.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.07. The firm had revenue of $421.38 million during the quarter, compared to the consensus estimate of $412.85 million. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. Equities analysts predict that Commerce Bancshares will post 4.02 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

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 is Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.46%. Commerce Bancshares’s payout ratio is 28.13%.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, Chairman David W. Kemper sold 30,000 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $61.78, for a total value of $1,853,400.00. Following the sale, the chairman now owns 1,151,994 shares of the company’s stock, valued at $71,170,189.32. This represents a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP David L. Roller sold 890 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was 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 of the company’s stock, valued at approximately $2,236,684.23. This trade represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,109 shares of company stock valued at $2,191,123. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Commerce Bancshares

A number of large investors have recently bought and sold shares of CBSH. 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 lifted 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 purchasing an additional 192 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Commerce Bancshares during the 3rd quarter worth about $39,000. Bessemer Group Inc. grew its holdings in shares of Commerce Bancshares by 86.3% during the first quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock worth $45,000 after buying an additional 390 shares in the last quarter. Finally, True Wealth Design LLC purchased a new stake in shares of Commerce Bancshares during the third quarter worth about $47,000. Institutional investors and hedge funds 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.