Commerce Bancshares (NASDAQ:CBSH) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Commerce Bancshares (NASDAQ:CBSH) from a sell rating to a hold rating in a report published on Wednesday.

A number of other equities analysts have also weighed in on CBSH. Raymond James upgraded shares of Commerce Bancshares from a market perform rating to an outperform rating and set a $61.00 price target on the stock in a research report on Wednesday. Morgan Stanley boosted their price target on shares of Commerce Bancshares from $46.00 to $55.00 and gave the stock an equal weight rating in a research report on Wednesday, February 7th. Keefe, Bruyette & Woods boosted their target price on shares of Commerce Bancshares from $56.00 to $58.00 and gave the company a market perform rating in a report on Wednesday. Bank of America started coverage on shares of Commerce Bancshares in a report on Thursday, January 11th. They issued a neutral rating and a $55.00 target price on the stock. Finally, Piper Sandler boosted their target price on shares of Commerce Bancshares from $53.00 to $54.00 and gave the company a neutral rating in a report on Wednesday. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and an average target price of $55.00.

Commerce Bancshares Trading Up 2.0 %

CBSH opened at $53.07 on Wednesday. The firm has a market capitalization of $6.89 billion, a PE ratio of 14.80 and a beta of 0.79. Commerce Bancshares has a twelve month low of $40.91 and a twelve month high of $56.75. The firm’s 50-day moving average price is $51.97 and its 200 day moving average price is $50.92.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. The firm had revenue of $397.80 million for the quarter, compared to analyst estimates of $389.49 million. Commerce Bancshares had a net margin of 23.33% and a return on equity of 16.78%. Commerce Bancshares’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.90 earnings per share. As a group, analysts predict that Commerce Bancshares will post 3.24 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Wednesday, June 5th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.04%. Commerce Bancshares’s dividend payout ratio is currently 30.12%.

Insider Transactions at Commerce Bancshares

In other news, Director Benjamin F. Rassieur III sold 1,785 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $53.83, for a total value of $96,086.55. Following the transaction, the director now directly owns 33,567 shares in the company, valued at approximately $1,806,911.61. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, SVP Patricia R. Kellerhals sold 730 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $54.87, for a total value of $40,055.10. Following the transaction, the senior vice president now directly owns 25,502 shares in the company, valued at approximately $1,399,294.74. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Benjamin F. Rassieur III sold 1,785 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $53.83, for a total transaction of $96,086.55. Following the sale, the director now directly owns 33,567 shares in the company, valued at $1,806,911.61. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,321 shares of company stock worth $752,387. 3.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Commerce Bancshares

Several large investors have recently added to or reduced their stakes in the business. First Republic Investment Management Inc. increased its stake in Commerce Bancshares by 0.3% during the 2nd quarter. First Republic Investment Management Inc. now owns 53,245 shares of the financial services provider’s stock worth $3,496,000 after buying an additional 138 shares during the period. Cetera Advisors LLC increased its stake in Commerce Bancshares by 3.6% during the 4th quarter. Cetera Advisors LLC now owns 5,099 shares of the financial services provider’s stock worth $347,000 after buying an additional 179 shares during the period. Capital Advisors Inc. OK increased its stake in Commerce Bancshares by 5.0% during the 4th quarter. Capital Advisors Inc. OK now owns 4,431 shares of the financial services provider’s stock worth $237,000 after buying an additional 210 shares during the period. Signaturefd LLC increased its stake in Commerce Bancshares by 14.4% during the 4th quarter. Signaturefd LLC now owns 1,694 shares of the financial services provider’s stock worth $90,000 after buying an additional 213 shares during the period. Finally, Angeles Investment Advisors LLC increased its stake in Commerce Bancshares by 5.0% during the 4th quarter. Angeles Investment Advisors LLC now owns 4,557 shares of the financial services provider’s stock worth $243,000 after buying an additional 217 shares during the period. 70.26% of the stock is owned by hedge funds and other 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.