Analysts Set Commerce Bancshares, Inc. (NASDAQ:CBSH) Price Target at $67.83

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have received a consensus recommendation of “Hold” from the six ratings firms that are covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $67.83.

A number of research firms recently commented on CBSH. Raymond James downgraded shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Piper Sandler raised their price objective on Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Wells Fargo & Company lifted their target price on Commerce Bancshares from $67.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Finally, Keefe, Bruyette & Woods upped their target price on Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

Insider Buying and Selling

In related news, SVP Patricia R. Kellerhals sold 500 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $68.55, for a total value of $34,275.00. Following the completion of the sale, the senior vice president now directly owns 22,265 shares of the company’s stock, valued at approximately $1,526,265.75. This represents a 2.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP David L. Roller sold 890 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $72.27, for a total value of $64,320.30. Following the completion of the sale, the senior vice president now directly owns 30,949 shares of the company’s stock, valued at approximately $2,236,684.23. This represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,944 shares of company stock valued at $5,835,512. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CBSH. Cetera Investment Advisers increased its position in Commerce Bancshares by 77.1% in the 2nd quarter. Cetera Investment Advisers now owns 56,441 shares of the financial services provider’s stock worth $3,148,000 after purchasing an additional 24,569 shares during the last quarter. Handelsbanken Fonder AB increased its position in Commerce Bancshares by 9.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 29,628 shares of the financial services provider’s stock worth $1,760,000 after purchasing an additional 2,600 shares during the last quarter. CWM LLC increased its position in Commerce Bancshares by 0.8% in the 3rd quarter. CWM LLC now owns 131,524 shares of the financial services provider’s stock worth $7,813,000 after purchasing an additional 1,004 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in Commerce Bancshares by 9.5% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 19,048 shares of the financial services provider’s stock worth $1,131,000 after purchasing an additional 1,659 shares during the last quarter. Finally, Wedge Capital Management L L P NC increased its position in Commerce Bancshares by 2.1% in the 3rd quarter. Wedge Capital Management L L P NC now owns 31,425 shares of the financial services provider’s stock worth $1,867,000 after purchasing an additional 659 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Commerce Bancshares Stock Down 1.1 %

Shares of CBSH opened at $65.74 on Friday. The firm has a 50-day moving average price of $65.05 and a 200 day moving average price of $64.26. The firm has a market capitalization of $8.43 billion, a PE ratio of 16.39, a P/E/G ratio of 2.27 and a beta of 0.80. Commerce Bancshares has a 52-week low of $47.89 and a 52-week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. The firm had revenue of $422.10 million during the quarter, compared to analyst estimates of $417.48 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. Commerce Bancshares’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.84 EPS. On average, equities analysts expect that Commerce Bancshares will post 3.9 EPS for the current year.

Commerce Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be paid a $0.275 dividend. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.27. This represents a $1.10 annualized dividend and a yield of 1.67%. The ex-dividend date is Friday, March 7th. Commerce Bancshares’s dividend payout ratio is currently 26.93%.

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.