Commerce Bancshares, Inc. (NASDAQ:CBSH) Receives $65.07 Average Price Target from Brokerages

Commerce Bancshares, Inc. (NASDAQ:CBSH) has received an average recommendation of “Hold” from the seven research firms that are presently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating. The average 12 month price target among analysts that have covered the stock in the last year is $65.07.

A number of equities analysts have recently weighed in on CBSH shares. Keefe, Bruyette & Woods boosted their price objective on shares of Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Morgan Stanley cut Commerce Bancshares from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $66.00 to $64.00 in a report on Monday, September 30th. Raymond James lowered Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday. Finally, Piper Sandler set a $68.50 price target on Commerce Bancshares and gave the stock a “neutral” rating in a research note on Friday, October 18th.

Commerce Bancshares Stock Up 0.2 %

NASDAQ CBSH opened at $63.03 on Friday. Commerce Bancshares has a fifty-two week low of $47.09 and a fifty-two week high of $72.75. The business has a fifty day moving average of $67.24 and a 200-day moving average of $62.18. The stock has a market cap of $8.08 billion, a price-to-earnings ratio of 16.41, a price-to-earnings-growth ratio of 2.92 and a beta of 0.77.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. The firm had revenue of $421.38 million during the quarter, compared to analysts’ expectations of $412.85 million. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. As a group, analysts anticipate that Commerce Bancshares will post 3.95 EPS for the current year.

Commerce Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Tuesday, December 3rd. Commerce Bancshares’s dividend payout ratio is currently 28.13%.

Insider Buying and Selling

In other Commerce Bancshares news, EVP Kevin G. Barth sold 1,582 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $67.54, for a total value of $106,848.28. Following the completion of the transaction, the executive vice president now owns 65,409 shares in the company, valued at $4,417,723.86. This represents a 2.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Patricia R. Kellerhals sold 1,000 shares of Commerce Bancshares stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $67.69, for a total transaction of $67,690.00. Following the sale, the senior vice president now owns 21,265 shares in the company, valued at $1,439,427.85. This represents a 4.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,398 shares of company stock valued at $2,504,665. 3.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Commerce Bancshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new position in shares of Commerce Bancshares in the third quarter worth about $566,000. Centiva Capital LP purchased a new stake in Commerce Bancshares during the 3rd quarter worth approximately $581,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Commerce Bancshares during the 2nd quarter worth approximately $436,000. Barclays PLC raised its position in shares of Commerce Bancshares by 19.4% in the 3rd quarter. Barclays PLC now owns 106,934 shares of the financial services provider’s stock valued at $6,353,000 after purchasing an additional 17,400 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Commerce Bancshares during the second quarter worth approximately $522,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

About Commerce Bancshares

Commerce Bancshares, Inc operates as the bank holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses in the United States. It operates through three segments: Consumer, Commercial, and Wealth.