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

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have been assigned a consensus recommendation of “Hold” from the seven ratings firms that are covering the stock, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation. The average 1-year target price among brokerages that have covered the stock in the last year is $65.07.

A number of brokerages recently issued reports on CBSH. Piper Sandler set a $68.50 target price on Commerce Bancshares and gave the stock a “neutral” rating in a report on Friday, October 18th. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Raymond James downgraded shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday. Keefe, Bruyette & Woods raised their price target on shares of Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Morgan Stanley lowered Commerce Bancshares from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $66.00 to $64.00 in a report on Monday, September 30th.

Insiders Place Their Bets

In other Commerce Bancshares news, SVP Douglas D. Neff sold 888 shares of Commerce Bancshares stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $72.10, for a total value of $64,024.80. Following the sale, the senior vice president now owns 8,038 shares of the company’s stock, valued at approximately $579,539.80. The trade was a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman David W. Kemper sold 30,000 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $61.78, for a total transaction of $1,853,400.00. Following the transaction, the chairman now directly owns 1,151,994 shares of the company’s stock, valued at $71,170,189.32. This represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,398 shares of company stock valued at $2,504,665. Insiders own 3.10% of the company’s stock.

Institutional Trading of Commerce Bancshares

Several hedge funds have recently made changes to their positions in CBSH. Wealth Enhancement Advisory Services LLC purchased a new stake in Commerce Bancshares in the 2nd quarter worth about $436,000. Raymond James & Associates increased its stake in shares of Commerce Bancshares by 7.9% in the second quarter. Raymond James & Associates now owns 135,534 shares of the financial services provider’s stock worth $7,560,000 after purchasing an additional 9,881 shares in the last quarter. Fifth Third Wealth Advisors LLC bought a new stake in shares of Commerce Bancshares in the second quarter valued at approximately $197,000. &PARTNERS bought a new position in Commerce Bancshares in the 2nd quarter worth approximately $396,000. Finally, Cambridge Investment Research Advisors Inc. grew its stake in Commerce Bancshares by 0.5% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 30,906 shares of the financial services provider’s stock valued at $1,724,000 after buying an additional 154 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Commerce Bancshares Trading Down 1.5 %

CBSH opened at $62.89 on Friday. The company has a market cap of $8.06 billion, a P/E ratio of 16.38, a price-to-earnings-growth ratio of 2.92 and a beta of 0.77. The company has a fifty day moving average price of $67.18 and a two-hundred day moving average price of $62.07. Commerce Bancshares has a 1-year low of $47.09 and a 1-year high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.07. The business had revenue of $421.38 million during the quarter, compared to analyst estimates of $412.85 million. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. On average, research analysts forecast that Commerce Bancshares will post 3.95 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend was Tuesday, December 3rd. Commerce Bancshares’s payout ratio is 28.13%.

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.