Commerce Bancshares, Inc. (NASDAQ:CBSH) Receives $55.29 Average PT from Brokerages

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have earned an average recommendation of “Hold” from the seven analysts that are currently covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $56.71.

Several equities analysts have issued reports on CBSH shares. Raymond James upgraded shares of Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 price target for the company in a research report on Wednesday, April 17th. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, April 17th. Piper Sandler upped their price target on Commerce Bancshares from $53.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. Keefe, Bruyette & Woods increased their price target on Commerce Bancshares from $58.00 to $60.00 and gave the company a “market perform” rating in a research note on Friday, May 10th. Finally, Jefferies Financial Group lifted their price objective on Commerce Bancshares from $60.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday.

Commerce Bancshares Stock Performance

Shares of CBSH opened at $55.47 on Friday. Commerce Bancshares has a 52 week low of $40.91 and a 52 week high of $57.48. The stock has a market capitalization of $7.19 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 1.82 and a beta of 0.76. The stock has a fifty day moving average of $55.11 and a 200-day moving average of $53.52.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.80 by $0.06. Commerce Bancshares had a return on equity of 16.78% and a net margin of 23.33%. The firm had revenue of $397.80 million during the quarter, compared to the consensus estimate of $389.49 million. During the same period last year, the company earned $0.90 earnings per share. The business’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, equities analysts forecast that Commerce Bancshares will post 3.57 EPS for the current year.

Commerce Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Wednesday, June 5th were paid a dividend of $0.27 per share. The ex-dividend date was Wednesday, June 5th. This represents a $1.08 annualized dividend and a yield of 1.95%. Commerce Bancshares’s dividend payout ratio is currently 30.12%.

Insiders Place Their Bets

In other Commerce Bancshares news, CEO John W. Kemper sold 26,581 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $56.77, for a total transaction of $1,509,003.37. Following the transaction, the chief executive officer now directly owns 198,387 shares in the company, valued at approximately $11,262,429.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Commerce Bancshares

Several large investors have recently made changes to their positions in CBSH. Vanguard Group Inc. boosted its holdings in Commerce Bancshares by 2.1% in the first quarter. Vanguard Group Inc. now owns 12,631,645 shares of the financial services provider’s stock worth $672,004,000 after acquiring an additional 259,127 shares in the last quarter. Commerce Bank increased its stake in Commerce Bancshares by 2.8% during the 4th quarter. Commerce Bank now owns 7,222,818 shares of the financial services provider’s stock valued at $385,771,000 after purchasing an additional 196,431 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Commerce Bancshares by 7.1% during the fourth quarter. Wells Fargo & Company MN now owns 2,345,252 shares of the financial services provider’s stock worth $125,260,000 after buying an additional 155,526 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Commerce Bancshares by 22.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,676,350 shares of the financial services provider’s stock valued at $89,541,000 after buying an additional 302,630 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Commerce Bancshares during the fourth quarter valued at about $71,835,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

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.