Commerce Bancshares, Inc. (NASDAQ:CBSH) Receives $65.29 Average Price Target from Analysts

Commerce Bancshares, Inc. (NASDAQ:CBSH) has earned a consensus recommendation of “Hold” from the eleven ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $65.2857.

Several brokerages have commented on CBSH. Cowen reaffirmed a “hold” rating on shares of Commerce Bancshares in a report on Tuesday, October 21st. Piper Sandler lowered their price objective on Commerce Bancshares from $70.00 to $63.00 and set a “neutral” rating for the company in a research report on Friday, October 17th. TD Cowen began coverage on Commerce Bancshares in a research note on Thursday, September 25th. They issued a “hold” rating and a $63.00 price objective on the stock. Wells Fargo & Company decreased their target price on shares of Commerce Bancshares from $65.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 21st. Finally, Wall Street Zen lowered shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, October 18th.

Institutional Trading of Commerce Bancshares

A number of large investors have recently bought and sold shares of CBSH. Smartleaf Asset Management LLC lifted its stake in shares of Commerce Bancshares by 191.0% in the 1st quarter. Smartleaf Asset Management LLC now owns 451 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 296 shares during the period. IMA Advisory Services Inc. bought a new position in shares of Commerce Bancshares during the 1st quarter worth approximately $29,000. Geneos Wealth Management Inc. boosted its holdings in shares of Commerce Bancshares by 85.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after buying an additional 216 shares in the last quarter. Quent Capital LLC acquired a new stake in shares of Commerce Bancshares during the 3rd quarter worth approximately $31,000. Finally, CoreFirst Bank & Trust bought a new stake in shares of Commerce Bancshares in the 2nd quarter valued at $33,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Commerce Bancshares Trading Down 0.0%

NASDAQ:CBSH opened at $54.30 on Monday. The stock’s 50-day moving average is $56.90 and its 200-day moving average is $60.64. Commerce Bancshares has a 1-year low of $51.64 and a 1-year high of $72.75. The stock has a market cap of $7.25 billion, a P/E ratio of 12.96, a price-to-earnings-growth ratio of 4.71 and a beta of 0.62.

Commerce Bancshares shares are scheduled to split on Tuesday, December 2nd. The 1.05-1 split was recently announced. The newly minted shares will be distributed to shareholders after the market closes on Monday, December 1st.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.03). Commerce Bancshares had a return on equity of 15.73% and a net margin of 26.48%.The business had revenue of $440.97 million for the quarter, compared to analyst estimates of $447.04 million. During the same quarter last year, the firm posted $1.07 EPS. Commerce Bancshares’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities analysts forecast that Commerce Bancshares will post 3.94 EPS for the current year.

Commerce Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Tuesday, December 2nd will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, December 2nd. Commerce Bancshares’s dividend payout ratio (DPR) is currently 26.25%.

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.