Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH – Get Free Report) have received a consensus rating of “Hold” from the ten ratings firms that are currently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $63.64.
Several equities analysts recently weighed in on CBSH shares. TD Cowen restated a “hold” rating and set a $63.00 target price (up from $62.00) on shares of Commerce Bancshares in a report on Friday, July 17th. Morgan Stanley raised their price objective on Commerce Bancshares from $76.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, September 28th. Wall Street Zen raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Sunday, October 11th. Keefe, Bruyette & Woods boosted their price objective on Commerce Bancshares from $60.00 to $62.00 and gave the stock a “market perform” rating in a research note on Monday, July 20th. Finally, Piper Sandler set a $60.50 target price on Commerce Bancshares and gave the stock a “neutral” rating in a research report on Wednesday, October 21st.
Read Our Latest Analysis on Commerce Bancshares
Commerce Bancshares Stock Performance
Shares of CBSH opened at $55.06 on Monday. Commerce Bancshares has a 1 year low of $46.99 and a 1 year high of $60.92. The company’s 50 day simple moving average is $56.40 and its 200 day simple moving average is $54.44. The company has a market capitalization of $7.90 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 1.66 and a beta of 0.61.
Commerce Bancshares (NASDAQ:CBSH – Get Free Report) last issued its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.01. Commerce Bancshares had a return on equity of 14.27% and a net margin of 26.06%. The firm had revenue of $494.34 million for the quarter, compared to analyst estimates of $496.75 million. During the same period last year, the company earned $1.06 EPS. Equities analysts expect that Commerce Bancshares will post 4.27 EPS for the current fiscal year.
Commerce Bancshares Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 21st. Investors of record on Tuesday, December 1st will be issued a $0.2750 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $1.10 annualized dividend and a yield of 2.0%. Commerce Bancshares’s dividend payout ratio is presently 26.51%.
Insider Activity at Commerce Bancshares
In related news, SVP Douglas D. Neff sold 666 shares of Commerce Bancshares stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $58.15, for a total value of $38,727.90. Following the transaction, the senior vice president owned 11,746 shares of the company’s stock, valued at approximately $683,029.90. This trade represents a 5.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP David L. Orf sold 642 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $60.35, for a total transaction of $38,744.70. Following the sale, the vice president owned 24,962 shares in the company, valued at $1,506,456.70. This represents a 2.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.80% of the company’s stock.
Institutional Investors Weigh In On Commerce Bancshares
Institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc raised its stake in shares of Commerce Bancshares by 146.6% during the 3rd quarter. Versant Capital Management Inc now owns 508 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 302 shares in the last quarter. Keating Financial Advisory Services Inc. acquired a new position in Commerce Bancshares during the second quarter valued at approximately $29,000. Root Financial Partners LLC grew its stake in Commerce Bancshares by 104.9% in the 1st quarter. Root Financial Partners LLC now owns 623 shares of the financial services provider’s stock valued at $31,000 after buying an additional 319 shares during the last quarter. Laurel Wealth Advisors LLC acquired a new stake in shares of Commerce Bancshares in the third quarter valued at about $35,000. Finally, Provenance Wealth Advisors LLC bought a new position in shares of Commerce Bancshares in the third quarter worth about $56,000. Institutional investors and hedge funds own 70.26% of the company’s stock.
Commerce Bancshares Company Profile
Commerce Bancshares, Inc is a financial holding company headquartered in Kansas City, Missouri. Founded in 1865, the company operates Commerce Bank, which provides banking and related financial services to individuals, businesses, institutions and government entities.
Commerce Bank offers deposit accounts, consumer and commercial lending, mortgages, treasury and payment services, credit cards, investment management, trust services and institutional banking solutions. Its businesses also include capital markets and brokerage services, supporting corporate, municipal and institutional clients.
The bank serves customers primarily through a regional network spanning Missouri, Kansas, Illinois, Oklahoma and Colorado, along with digital banking channels.
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