Commerce Bancshares, Inc. (NASDAQ:CBSH) Receives $59.71 Average Target Price from Analysts

Commerce Bancshares, Inc. (NASDAQ:CBSH) has earned a consensus recommendation of “Hold” from the seven brokerages that are currently covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $59.71.

Several research firms have recently weighed in on CBSH. Morgan Stanley cut Commerce Bancshares from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $66.00 to $64.00 in a research report on Monday, September 30th. Wells Fargo & Company boosted their price objective on shares of Commerce Bancshares from $52.00 to $62.00 and gave the stock an “equal weight” rating in a report on Monday, July 22nd. Jefferies Financial Group upped their price objective on shares of Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Finally, StockNews.com lowered Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, October 8th.

Insider Activity

In related news, Director Jonathan M. Kemper sold 19,626 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $63.66, for a total value of $1,249,391.16. Following the sale, the director now owns 997,112 shares of the company’s stock, valued at $63,476,149.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Jonathan M. Kemper sold 19,626 shares of Commerce Bancshares stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $63.66, for a total transaction of $1,249,391.16. Following the completion of the transaction, the director now directly owns 997,112 shares of the company’s stock, valued at $63,476,149.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP David L. Roller sold 861 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $64.30, for a total transaction of $55,362.30. Following the sale, the senior vice president now directly owns 30,949 shares in the company, valued at $1,990,020.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,612 shares of company stock worth $3,184,609. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Commerce Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the business. Clarity Asset Management Inc. acquired a new stake in shares of Commerce Bancshares in the fourth quarter valued at $43,000. Bessemer Group Inc. grew its holdings in Commerce Bancshares by 86.3% during the 1st quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 390 shares during the last quarter. GAMMA Investing LLC increased its position in Commerce Bancshares by 156.5% in the 2nd quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 521 shares in the last quarter. Eagle Bay Advisors LLC raised its stake in shares of Commerce Bancshares by 2,864.7% in the second quarter. Eagle Bay Advisors LLC now owns 1,008 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 974 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Commerce Bancshares by 93.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,670 shares of the financial services provider’s stock worth $89,000 after purchasing an additional 805 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Commerce Bancshares Price Performance

Commerce Bancshares stock opened at $59.90 on Friday. Commerce Bancshares has a fifty-two week low of $40.91 and a fifty-two week high of $65.86. The firm has a fifty day moving average price of $61.00 and a two-hundred day moving average price of $57.78. The firm has a market cap of $7.72 billion, a price-to-earnings ratio of 16.26, a P/E/G ratio of 2.93 and a beta of 0.74.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.17. Commerce Bancshares had a return on equity of 16.50% and a net margin of 23.62%. The business had revenue of $414.90 million during the quarter, compared to analysts’ expectations of $406.88 million. During the same quarter in the previous year, the firm earned $0.97 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. As a group, sell-side analysts expect that Commerce Bancshares will post 3.92 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Thursday, September 5th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend was Thursday, September 5th. Commerce Bancshares’s payout ratio is 29.31%.

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.