Commerce Bancshares, Inc. (NASDAQ:CBSH) Receives $61.71 Average PT from Analysts

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have received a consensus recommendation of “Hold” from the nine research firms that are presently covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $62.4286.

A number of equities analysts have weighed in on CBSH shares. Weiss Ratings upgraded shares of Commerce Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 8th. TD Cowen reiterated a “hold” rating and issued a $63.00 price objective (up from $62.00) on shares of Commerce Bancshares in a report on Friday. Keefe, Bruyette & Woods raised their target price on Commerce Bancshares from $60.00 to $62.00 and gave the company a “market perform” rating in a research report on Monday. Morgan Stanley reaffirmed a “positive” rating and set a $65.00 target price (up from $61.00) on shares of Commerce Bancshares in a report on Monday, June 29th. Finally, Piper Sandler restated a “neutral” rating and set a $66.00 price target (up from $59.00) on shares of Commerce Bancshares in a research report on Friday.

Institutional Trading of Commerce Bancshares

Several hedge funds have recently made changes to their positions in CBSH. Danske Bank A S purchased a new stake in shares of Commerce Bancshares during the 3rd quarter valued at approximately $25,000. Geneos Wealth Management Inc. raised its holdings 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 buying an additional 216 shares during the period. Daytona Street Capital LLC purchased a new stake in shares of Commerce Bancshares in the 4th quarter valued at approximately $25,000. Root Financial Partners LLC boosted its position in shares of Commerce Bancshares by 104.9% during the 1st quarter. Root Financial Partners LLC now owns 623 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 319 shares during the period. Finally, Laurel Wealth Advisors LLC purchased a new stake in Commerce Bancshares in the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Stock Down 0.6%

CBSH opened at $58.78 on Friday. Commerce Bancshares has a fifty-two week low of $46.99 and a fifty-two week high of $62.42. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.82 and a current ratio of 0.82. The company has a fifty day moving average of $54.99 and a two-hundred day moving average of $52.85. The stock has a market capitalization of $8.57 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 3.00 and a beta of 0.58.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.06. Commerce Bancshares had a net margin of 26.07% and a return on equity of 14.31%. The business had revenue of $498.91 million during the quarter, compared to the consensus estimate of $492.22 million. During the same quarter in the prior year, the firm posted $1.14 earnings per share. On average, research analysts expect that Commerce Bancshares will post 4.2 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th were paid a dividend of $0.275 per share. 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 26.63%.

About Commerce Bancshares

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.