Commerce Bancshares, Inc. (NASDAQ:CBSH) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have been assigned an average recommendation of “Hold” from the seven research firms that are covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $60.00.

A number of analysts have issued reports on CBSH shares. Jefferies Financial Group raised their price target on Commerce Bancshares from $60.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Morgan Stanley raised their price target on Commerce Bancshares from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Finally, Wells Fargo & Company raised their price target on Commerce Bancshares from $52.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd.

Insider Activity

In other news, VP David L. Orf sold 2,102 shares of Commerce Bancshares stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $64.83, for a total value of $136,272.66. Following the transaction, the vice president now directly owns 19,140 shares of the company’s stock, valued at approximately $1,240,846.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP David L. Orf sold 2,102 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $64.83, for a total transaction of $136,272.66. Following the transaction, the vice president now directly owns 19,140 shares of the company’s stock, valued at approximately $1,240,846.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP David L. Roller sold 861 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $64.30, for a total value of $55,362.30. Following the transaction, the senior vice president now directly owns 30,949 shares in the company, valued at $1,990,020.70. The disclosure for this sale can be found here. Insiders have sold 47,612 shares of company stock valued at $3,060,149 in the last three months. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Commerce Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the stock. United Advisor Group LLC acquired a new position in Commerce Bancshares during the 4th quarter worth approximately $3,827,000. Vanguard Group Inc. lifted its position in Commerce Bancshares by 2.1% during the 1st 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. Speece Thorson Capital Group Inc. increased its holdings in Commerce Bancshares by 37.3% during the 4th quarter. Speece Thorson Capital Group Inc. now owns 232,774 shares of the financial services provider’s stock worth $12,432,000 after purchasing an additional 63,266 shares during the last quarter. Trexquant Investment LP purchased a new stake in Commerce Bancshares during the 4th quarter worth approximately $1,176,000. Finally, SG Americas Securities LLC purchased a new stake in Commerce Bancshares during the 2nd quarter worth approximately $1,226,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Commerce Bancshares Trading Up 1.8 %

Commerce Bancshares stock opened at $61.98 on Wednesday. The stock has a market cap of $8.03 billion, a PE ratio of 17.26, a P/E/G ratio of 10.06 and a beta of 0.75. The stock has a 50-day moving average price of $61.72 and a 200 day moving average price of $56.70. Commerce Bancshares has a 52 week low of $40.91 and a 52 week high of $65.86.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.17. The firm had revenue of $414.90 million during the quarter, compared to analysts’ expectations of $406.88 million. Commerce Bancshares had a return on equity of 16.50% and a net margin of 23.62%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.97 EPS. On average, equities analysts predict that Commerce Bancshares will post 3.96 EPS for the current year.

Commerce Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Thursday, September 5th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Thursday, September 5th. Commerce Bancshares’s dividend payout ratio is currently 30.08%.

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.