Commerce Bancshares, Inc. (NASDAQ:CBSH) Receives Consensus Recommendation of “Reduce” from Analysts

Commerce Bancshares, Inc. (NASDAQ:CBSH) has been given an average rating of “Reduce” by the nine analysts that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $61.7483.

Several equities analysts recently issued reports on CBSH shares. Weiss Ratings reissued a “hold (c)” rating on shares of Commerce Bancshares in a research note on Monday, December 29th. Zacks Research lowered Commerce Bancshares from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 8th. Wells Fargo & Company decreased their price objective on Commerce Bancshares from $61.90 to $57.14 and set an “equal weight” rating on the stock in a report on Tuesday, October 21st. TD Cowen dropped their target price on Commerce Bancshares from $61.00 to $55.00 and set a “hold” rating for the company in a research note on Wednesday, January 7th. Finally, Piper Sandler set a $62.00 target price on Commerce Bancshares and gave the stock a “neutral” rating in a research report on Monday, January 26th.

Insider Activity at Commerce Bancshares

In other news, SVP David L. Roller sold 1,134 shares of the company’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $54.48, for a total transaction of $61,780.32. Following the completion of the sale, the senior vice president directly owned 30,535 shares in the company, valued at $1,663,546.80. This represents a 3.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO John W. Kemper sold 23,397 shares of the stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $53.99, for a total value of $1,263,204.03. Following the completion of the transaction, the chief executive officer directly owned 206,528 shares in the company, valued at $11,150,446.72. This trade represents a 10.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 27,667 shares of company stock worth $1,493,323. 3.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Commerce Bancshares

A number of large investors have recently modified their holdings of the company. Daytona Street Capital LLC purchased a new stake in shares of Commerce Bancshares during the 4th quarter worth about $25,000. Danske Bank A S acquired a new position in Commerce Bancshares during the third quarter valued at approximately $25,000. Geneos Wealth Management Inc. grew its stake in Commerce Bancshares by 85.4% during the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after buying an additional 216 shares during the period. Quent Capital LLC acquired a new stake in shares of Commerce Bancshares in the third quarter worth $31,000. Finally, CoreFirst Bank & Trust purchased a new position in shares of Commerce Bancshares in the 2nd quarter valued at $33,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Commerce Bancshares Stock Down 1.1%

NASDAQ CBSH opened at $53.01 on Wednesday. Commerce Bancshares has a fifty-two week low of $48.69 and a fifty-two week high of $63.43. The business has a fifty day moving average of $53.52 and a 200-day moving average of $54.27. The stock has a market cap of $7.02 billion, a price-to-earnings ratio of 12.65, a price-to-earnings-growth ratio of 2.69 and a beta of 0.62.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. The firm had revenue of $449.36 million during the quarter, compared to analysts’ expectations of $442.47 million. Commerce Bancshares had a return on equity of 15.51% and a net margin of 26.51%.The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.01 EPS. As a group, analysts anticipate that Commerce Bancshares will post 3.94 EPS for the current year.

Commerce Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Friday, March 6th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, March 6th. Commerce Bancshares’s dividend payout ratio is presently 26.25%.

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.