Commerce Bancshares, Inc. (NASDAQ:CBSH) Receives Average Recommendation of “Hold” from Brokerages

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have earned an average rating of “Hold” from the seven analysts that are currently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $61.79.

Several analysts have weighed in on CBSH shares. Piper Sandler set a $68.50 price objective on Commerce Bancshares and gave the company a “neutral” rating in a research report on Friday, October 18th. Morgan Stanley downgraded Commerce Bancshares from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $66.00 to $64.00 in a research report on Monday, September 30th. Finally, StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th.

Commerce Bancshares Price Performance

NASDAQ:CBSH opened at $73.75 on Monday. The business has a 50 day moving average of $64.43 and a 200 day moving average of $60.79. The company has a market capitalization of $9.46 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 3.99 and a beta of 0.73. Commerce Bancshares has a 1-year low of $47.28 and a 1-year high of $76.39.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. The company 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%. As a group, sell-side analysts anticipate that Commerce Bancshares will post 4.02 EPS for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd will be issued 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 dividend yield of 1.46%. Commerce Bancshares’s dividend payout ratio is presently 28.13%.

Insider Activity at Commerce Bancshares

In related news, SVP David L. Roller sold 890 shares of the company’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 completion of the transaction, the senior vice president now owns 30,949 shares in the company, valued at $2,236,684.23. This represents a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman David W. Kemper sold 30,000 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $61.78, for a total value of $1,853,400.00. Following the completion of the transaction, the chairman now owns 1,151,994 shares of the company’s stock, valued at approximately $71,170,189.32. This trade represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,109 shares of company stock worth $2,191,123 over the last quarter. 3.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Commerce Bancshares

A number of institutional investors have recently added to or reduced their stakes in CBSH. V Square Quantitative Management LLC bought a new position in Commerce Bancshares in the third quarter worth $26,000. Allworth Financial LP raised its holdings in Commerce Bancshares by 51.1% in the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 192 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Commerce Bancshares in the third quarter worth $39,000. Bessemer Group Inc. raised its holdings in Commerce Bancshares by 86.3% in the first quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 390 shares in the last quarter. Finally, True Wealth Design LLC bought a new position in Commerce Bancshares in the third quarter worth $47,000. Institutional investors own 70.26% of the company’s stock.

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.