Commerce Bancshares, Inc. (NASDAQ:CBSH) Receives $68.17 Average PT from Analysts

Commerce Bancshares, Inc. (NASDAQ:CBSH) has earned an average recommendation of “Reduce” from the six research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $68.17.

Several equities analysts have recently weighed in on the stock. Raymond James lowered shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Wells Fargo & Company increased their price target on shares of Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. StockNews.com downgraded shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday. Keefe, Bruyette & Woods upped their target price on Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler increased their target price on Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd.

Commerce Bancshares Stock Down 0.1 %

CBSH opened at $62.15 on Friday. Commerce Bancshares has a 12-month low of $48.49 and a 12-month high of $72.75. The business has a 50 day moving average of $64.18 and a 200-day moving average of $64.47. The stock has a market cap of $8.33 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 2.13 and a beta of 0.78.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The business had revenue of $422.10 million for the quarter, compared to analysts’ expectations of $417.48 million. During the same quarter in the prior year, the business earned $0.84 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, analysts expect that Commerce Bancshares will post 3.94 earnings per share for the current year.

Commerce Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th were issued a $0.275 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.10 dividend on an annualized basis and a yield of 1.77%. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.27. Commerce Bancshares’s payout ratio is currently 27.43%.

Insiders Place Their Bets

In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 1,719 shares of Commerce Bancshares stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $67.30, for a total value of $115,688.70. Following the completion of the transaction, the senior vice president now directly owns 18,688 shares of the company’s stock, valued at $1,257,702.40. The trade was a 8.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kevin G. Barth sold 24,870 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $66.06, for a total value of $1,642,912.20. Following the sale, the executive vice president now owns 45,511 shares of the company’s stock, valued at approximately $3,006,456.66. The trade was a 35.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 78,434 shares of company stock worth $5,248,272 in the last quarter. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Citigroup Inc. increased its holdings in Commerce Bancshares by 11.7% in the 3rd quarter. Citigroup Inc. now owns 130,134 shares of the financial services provider’s stock valued at $7,730,000 after buying an additional 13,681 shares during the period. Daiwa Securities Group Inc. increased its stake in Commerce Bancshares by 9.3% in the third quarter. Daiwa Securities Group Inc. now owns 7,557 shares of the financial services provider’s stock valued at $449,000 after acquiring an additional 642 shares during the last quarter. FMR LLC increased its stake in Commerce Bancshares by 15.4% in the third quarter. FMR LLC now owns 110,423 shares of the financial services provider’s stock valued at $6,559,000 after acquiring an additional 14,775 shares during the last quarter. Quantbot Technologies LP acquired a new position in Commerce Bancshares during the third quarter valued at approximately $235,000. Finally, BNP Paribas Financial Markets lifted its stake in Commerce Bancshares by 738.6% during the third quarter. BNP Paribas Financial Markets now owns 51,727 shares of the financial services provider’s stock worth $3,073,000 after purchasing an additional 45,559 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Commerce Bancshares Company Profile

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.