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

Commerce Bancshares, Inc. (NASDAQ:CBSH) has earned a consensus recommendation of “Hold” from the nine research firms that are currently covering the firm, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $60.9184.

A number of analysts recently weighed in on CBSH shares. Wells Fargo & Company reduced their price objective on shares of Commerce Bancshares from $60.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Monday, March 30th. Zacks Research raised shares of Commerce Bancshares from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Piper Sandler set a $62.00 price objective on shares of Commerce Bancshares and gave the stock a “neutral” rating in a research report on Monday, January 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Commerce Bancshares in a research report on Friday, March 27th. Finally, Morgan Stanley reduced their price objective on shares of Commerce Bancshares from $67.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Monday, March 2nd.

Commerce Bancshares Trading Up 1.7%

Shares of NASDAQ CBSH opened at $50.80 on Thursday. The firm’s 50-day moving average price is $51.10 and its 200-day moving average price is $52.26. The stock has a market capitalization of $7.46 billion, a price-to-earnings ratio of 12.12, a P/E/G ratio of 2.50 and a beta of 0.60. Commerce Bancshares has a 12-month low of $46.99 and a 12-month high of $63.19.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.02. The firm had revenue of $449.36 million for the quarter, compared to analysts’ expectations of $442.47 million. Commerce Bancshares had a net margin of 26.51% and a return on equity of 15.34%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.01 EPS. On average, equities analysts predict that Commerce Bancshares will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Investors of record on Friday, March 6th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Friday, March 6th. Commerce Bancshares’s dividend payout ratio is 26.25%.

Insider Buying and Selling

In related news, SVP Margaret M. Rowe sold 861 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $51.69, for a total value of $44,505.09. Following the sale, the senior vice president directly owned 5,742 shares of the company’s stock, valued at $296,803.98. This represents a 13.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Derrick Brooks sold 1,044 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $54.40, for a total transaction of $56,793.60. Following the completion of the sale, the senior vice president directly owned 14,585 shares in the company, valued at $793,424. This trade represents a 6.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 29,477 shares of company stock worth $1,586,655 over the last three months. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Commerce Bancshares

A number of institutional investors have recently modified their holdings of the stock. Apriem Advisors increased its position in shares of Commerce Bancshares by 5.0% during the fourth quarter. Apriem Advisors now owns 4,018 shares of the financial services provider’s stock worth $210,000 after acquiring an additional 191 shares during the period. Heartland Bank & Trust Co increased its position in shares of Commerce Bancshares by 4.4% during the fourth quarter. Heartland Bank & Trust Co now owns 4,595 shares of the financial services provider’s stock worth $240,000 after acquiring an additional 192 shares during the period. Profund Advisors LLC increased its position in shares of Commerce Bancshares by 4.4% during the third quarter. Profund Advisors LLC now owns 4,682 shares of the financial services provider’s stock worth $280,000 after acquiring an additional 197 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of Commerce Bancshares by 0.8% during the third quarter. Oregon Public Employees Retirement Fund now owns 25,004 shares of the financial services provider’s stock worth $1,494,000 after acquiring an additional 200 shares during the period. Finally, Outlook Wealth Advisors LLC increased its position in shares of Commerce Bancshares by 3.7% during the fourth quarter. Outlook Wealth Advisors LLC now owns 5,934 shares of the financial services provider’s stock worth $311,000 after acquiring an additional 214 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 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.