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

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have received an average rating of “Hold” from the eleven research firms that are currently covering the firm, MarketBeat Ratings reports. One 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 twelve-month target price among brokers that have updated their coverage on the stock in the last year is $62.1769.

A number of research analysts have weighed in on the company. Cowen reissued a “hold” rating on shares of Commerce Bancshares in a report on Tuesday, October 21st. Hovde Group initiated coverage on shares of Commerce Bancshares in a research note on Monday, October 6th. They issued an “outperform” rating and a $66.67 price objective on the stock. Morgan Stanley raised their price objective on shares of Commerce Bancshares from $62.86 to $66.67 and gave the stock an “underperform” rating in a report on Monday, September 29th. TD Cowen assumed coverage on shares of Commerce Bancshares in a research report on Thursday, September 25th. They set a “hold” rating and a $60.00 target price for the company. Finally, Zacks Research downgraded shares of Commerce Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 27th.

Institutional Trading of Commerce Bancshares

Hedge funds have recently bought and sold shares of the stock. LPL Financial LLC raised its stake in shares of Commerce Bancshares by 41.7% in the first quarter. LPL Financial LLC now owns 108,513 shares of the financial services provider’s stock worth $6,753,000 after buying an additional 31,916 shares during the period. Natixis Advisors LLC grew its stake in shares of Commerce Bancshares by 18.5% during the 1st quarter. Natixis Advisors LLC now owns 22,410 shares of the financial services provider’s stock valued at $1,395,000 after acquiring an additional 3,492 shares during the period. Bank of Nova Scotia purchased a new stake in Commerce Bancshares in the 1st quarter worth approximately $1,282,000. New Age Alpha Advisors LLC raised its stake in Commerce Bancshares by 75.0% during the 1st quarter. New Age Alpha Advisors LLC now owns 4,941 shares of the financial services provider’s stock worth $307,000 after acquiring an additional 2,118 shares during the period. Finally, Vanguard Group Inc. raised its stake in Commerce Bancshares by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 13,493,741 shares of the financial services provider’s stock worth $839,716,000 after acquiring an additional 268,250 shares during the period. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Trading Up 0.6%

Shares of CBSH stock opened at $52.66 on Friday. Commerce Bancshares has a 12-month low of $48.69 and a 12-month high of $66.53. The stock has a market capitalization of $6.97 billion, a P/E ratio of 12.57, a P/E/G ratio of 4.73 and a beta of 0.62. The firm’s 50 day moving average is $52.31 and its 200 day moving average is $56.74.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.03). The firm had revenue of $448.85 million for the quarter, compared to the consensus estimate of $447.04 million. Commerce Bancshares had a net margin of 26.48% and a return on equity of 15.73%. Commerce Bancshares’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.02 earnings per share. As a group, equities analysts predict that Commerce Bancshares will post 3.94 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Tuesday, December 2nd will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, December 2nd. Commerce Bancshares’s dividend payout ratio (DPR) is currently 26.25%.

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.