Commerce Bancshares (NASDAQ:CBSH) Research Coverage Started at Stephens

Stephens started coverage on shares of Commerce Bancshares (NASDAQ:CBSH) in a research report report published on Wednesday, Marketbeat Ratings reports. The firm issued an equal weight rating and a $62.00 price target on the financial services provider’s stock.

A number of other equities research analysts also recently commented on CBSH. Wall Street Zen upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Morgan Stanley reiterated a “positive” rating and set a $65.00 price target (up from $61.00) on shares of Commerce Bancshares in a report on Monday, June 29th. Piper Sandler raised their price objective on Commerce Bancshares from $58.50 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Keefe, Bruyette & Woods boosted their price objective on shares of Commerce Bancshares from $56.00 to $57.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. Finally, Weiss Ratings raised shares of Commerce Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 8th. Two research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $61.71.

Commerce Bancshares Stock Down 0.4%

Shares of NASDAQ CBSH opened at $59.14 on Wednesday. The company has a market capitalization of $8.62 billion, a P/E ratio of 14.32, a P/E/G ratio of 3.04 and a beta of 0.58. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.82 and a quick ratio of 0.81. The company has a 50 day simple moving average of $54.83 and a 200-day simple moving average of $52.81. Commerce Bancshares has a 1 year low of $46.99 and a 1 year high of $62.42.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.06. The firm had revenue of $498.91 million for the quarter, compared to analysts’ expectations of $492.22 million. Commerce Bancshares had a return on equity of 14.31% and a net margin of 26.07%.During the same period in the prior year, the firm posted $1.14 earnings per share. On average, equities research analysts predict that Commerce Bancshares will post 4.16 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th were given a $0.275 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.10 dividend on an annualized basis and a yield of 1.9%. Commerce Bancshares’s payout ratio is presently 26.38%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Commerce Bancshares by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 14,690,039 shares of the financial services provider’s stock worth $768,877,000 after acquiring an additional 1,098,142 shares in the last quarter. State Street Corp grew its position in Commerce Bancshares by 8.4% in the 4th quarter. State Street Corp now owns 7,318,898 shares of the financial services provider’s stock valued at $383,071,000 after acquiring an additional 566,853 shares in the last quarter. Commerce Bank grew its position in Commerce Bancshares by 7.0% in the 4th quarter. Commerce Bank now owns 5,660,823 shares of the financial services provider’s stock valued at $296,287,000 after acquiring an additional 369,636 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Commerce Bancshares by 29.3% during the first quarter. Dimensional Fund Advisors LP now owns 3,943,247 shares of the financial services provider’s stock worth $193,999,000 after purchasing an additional 894,183 shares during the period. Finally, Geode Capital Management LLC increased its stake in Commerce Bancshares by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 2,780,678 shares of the financial services provider’s stock worth $147,097,000 after purchasing an additional 174,863 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

More Commerce Bancshares News

Here are the key news stories impacting Commerce Bancshares this week:

• Positive Sentiment: CBSH reported Q2 EPS of $1.10, ahead of the $1.04 consensus, and revenue of $498.91 million versus expectations of $492.22 million, signaling solid operating performance. Article Title
• Positive Sentiment: Management noted higher net interest income and fee income, which helped offset rising costs and credit loss provisions, suggesting underlying business strength. Article Title
• Positive Sentiment: Several headlines highlighted that Commerce Bancshares topped second-quarter expectations on stronger margin and loan growth, reinforcing the earnings beat narrative. Article Title
• Neutral Sentiment: Morgan Stanley reaffirmed a Hold rating and kept its $65 price target, indicating a balanced view after the results rather than a major change in sentiment. Article Title
• Neutral Sentiment: Stephens also moved to a Hold view, suggesting the stock may already reflect much of the good news from the quarter. Article Title
• Negative Sentiment: Despite the earnings beat, year-over-year EPS was slightly lower than last year’s quarter, and some commentary noted valuation concerns tied to excess capital, which may limit upside. Article Title

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.