Analysts Set Commerce Bancshares, Inc. (NASDAQ:CBSH) Target Price at $66.75

Commerce Bancshares, Inc. (NASDAQ:CBSH) has been given a consensus rating of “Hold” by the six ratings firms that are covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $66.75.

CBSH has been the subject of a number of recent analyst reports. Raymond James lowered Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Morgan Stanley cut shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $66.00 to $64.00 in a research note on Monday, September 30th. Keefe, Bruyette & Woods upped their target price on shares of Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler set a $68.50 price target on Commerce Bancshares and gave the stock a “neutral” rating in a research report on Friday, October 18th.

Commerce Bancshares Stock Performance

Commerce Bancshares stock opened at $64.85 on Tuesday. Commerce Bancshares has a one year low of $47.09 and a one year high of $72.75. The firm has a market capitalization of $8.32 billion, a P/E ratio of 16.89, a P/E/G ratio of 3.38 and a beta of 0.79. The company has a 50-day simple moving average of $67.04 and a 200-day simple moving average of $63.53.

Commerce Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date was Tuesday, December 3rd. Commerce Bancshares’s dividend payout ratio is currently 28.13%.

Insider Activity at Commerce Bancshares

In other Commerce Bancshares news, SVP David L. Roller sold 890 shares of Commerce Bancshares stock in a transaction that occurred on 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 in the company, valued at approximately $2,236,684.23. The trade was a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Douglas D. Neff sold 888 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $72.10, for a total value of $64,024.80. Following the completion of the sale, the senior vice president now directly owns 8,038 shares of the company’s stock, valued at $579,539.80. This trade represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,398 shares of company stock worth $651,265. Insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Commerce Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in the business. V Square Quantitative Management LLC bought a new position in Commerce Bancshares during the 3rd quarter valued at $26,000. Allworth Financial LP grew its position in shares of Commerce Bancshares by 51.1% in the third 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 purchased a new stake in shares of Commerce Bancshares in the third quarter worth about $39,000. True Wealth Design LLC bought a new position in Commerce Bancshares in the 3rd quarter valued at $47,000. Finally, Farther Finance Advisors LLC increased its stake in Commerce Bancshares by 48.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 287 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

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.