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

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have been given an average rating of “Hold” by the ten analysts that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $62.1769.

A number of research analysts have recently commented on the stock. Hovde Group started coverage on shares of Commerce Bancshares in a research report on Monday, October 6th. They issued an “outperform” rating and a $66.67 price objective for the company. Morgan Stanley lifted their price target on Commerce Bancshares from $62.86 to $66.67 and gave the stock an “underperform” rating in a report on Monday, September 29th. TD Cowen started coverage on Commerce Bancshares in a research note on Thursday, September 25th. They issued a “hold” rating and a $60.00 price objective on the stock. Wall Street Zen downgraded Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Finally, Keefe, Bruyette & Woods dropped their price target on Commerce Bancshares from $61.90 to $57.14 and set a “market perform” rating on the stock in a research note on Friday, October 17th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Danske Bank A S bought a new stake in shares of Commerce Bancshares during the third quarter worth approximately $25,000. Geneos Wealth Management Inc. boosted its stake in Commerce Bancshares by 85.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 216 shares during the period. Quent Capital LLC acquired a new position in Commerce Bancshares in the 3rd quarter valued at $31,000. CoreFirst Bank & Trust bought a new position in Commerce Bancshares during the 2nd quarter worth $33,000. Finally, Rothschild Investment LLC lifted its holdings in shares of Commerce Bancshares by 3,820.0% during the third quarter. Rothschild Investment LLC now owns 588 shares of the financial services provider’s stock worth $35,000 after buying an additional 573 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Commerce Bancshares Stock Down 0.5%

NASDAQ:CBSH opened at $52.68 on Tuesday. Commerce Bancshares has a twelve month low of $48.69 and a twelve month high of $65.59. The firm has a market capitalization of $6.98 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 4.63 and a beta of 0.62. The stock’s 50 day moving average price is $51.61 and its two-hundred day moving average price is $55.82.

Commerce Bancshares (NASDAQ:CBSH) last released its 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 during 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 prior year, the business posted $1.02 earnings per share. As a group, analysts anticipate that Commerce Bancshares will post 3.94 earnings per share for the current year.

Commerce Bancshares Announces Dividend

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

Commerce Bancshares Company Profile

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.