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

Commerce Bancshares, Inc. (NASDAQ:CBSH) has earned an average rating of “Hold” from the six ratings firms that are currently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $55.00.

CBSH has been the topic of a number of research analyst reports. Morgan Stanley upped their target price on Commerce Bancshares from $46.00 to $55.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Piper Sandler raised their price objective 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 upped their target price on shares of Commerce Bancshares from $56.00 to $58.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 17th. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, April 17th. Finally, Bank of America began coverage on shares of Commerce Bancshares in a research note on Thursday, January 11th. They set a “neutral” rating and a $55.00 target price for the company.

Insider Activity

In related news, EVP Robert S. Holmes sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $52.66, for a total value of $263,300.00. Following the transaction, the executive vice president now directly owns 50,293 shares of the company’s stock, valued at approximately $2,648,429.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Douglas D. Neff sold 614 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $50.25, for a total transaction of $30,853.50. Following the transaction, the senior vice president now owns 8,038 shares in the company, valued at $403,909.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert S. Holmes sold 5,000 shares of Commerce Bancshares stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $52.66, for a total transaction of $263,300.00. Following the completion of the sale, the executive vice president now directly owns 50,293 shares of the company’s stock, valued at approximately $2,648,429.38. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Commerce Bancshares

A number of institutional investors and hedge funds have recently modified their holdings of CBSH. BKM Wealth Management LLC bought a new position in Commerce Bancshares in the fourth quarter valued at about $29,000. Creative Financial Designs Inc. ADV bought a new position in shares of Commerce Bancshares in the 4th quarter worth approximately $35,000. Clarity Asset Management Inc. purchased a new position in shares of Commerce Bancshares in the fourth quarter worth approximately $43,000. Adirondack Trust Co. bought a new stake in Commerce Bancshares during the third quarter valued at approximately $44,000. Finally, Exchange Traded Concepts LLC purchased a new stake in Commerce Bancshares during the fourth quarter valued at approximately $55,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Commerce Bancshares Stock Up 0.7 %

Shares of Commerce Bancshares stock opened at $56.41 on Thursday. The company has a market cap of $7.33 billion, a PE ratio of 15.73 and a beta of 0.76. The business has a 50 day moving average of $53.12 and a 200 day moving average of $51.73. Commerce Bancshares has a 52 week low of $40.91 and a 52 week high of $57.00.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.80 by $0.06. Commerce Bancshares had a net margin of 23.33% and a return on equity of 16.78%. The firm had revenue of $397.80 million during the quarter, compared to analysts’ expectations of $389.49 million. During the same period last year, the company posted $0.90 EPS. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, research analysts anticipate that Commerce Bancshares will post 3.48 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Wednesday, June 5th will be paid a $0.27 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $1.08 annualized dividend and a dividend yield of 1.91%. Commerce Bancshares’s dividend payout ratio is presently 30.12%.

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.