Analysts Set Commerce Bancshares, Inc. (NASDAQ:CBSH) PT at $51.78

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSHGet Free Report) have earned an average rating of “Hold” from the five research firms that are currently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $51.78.

Several equities analysts recently commented on the stock. Piper Sandler decreased their price objective on shares of Commerce Bancshares from $52.00 to $51.00 and set a “neutral” rating for the company in a research report on Friday, October 20th. Keefe, Bruyette & Woods increased their price target on shares of Commerce Bancshares from $54.00 to $56.00 and gave the stock a “market perform” rating in a report on Friday, January 19th. Bank of America started coverage on shares of Commerce Bancshares in a report on Thursday, January 11th. They issued a “neutral” rating and a $55.00 price target on the stock. Wells Fargo & Company dropped their price objective on shares of Commerce Bancshares from $52.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Friday, October 20th. Finally, StockNews.com started coverage on shares of Commerce Bancshares in a research note on Thursday, October 5th. They set a “sell” rating on the stock.

Read Our Latest Report on Commerce Bancshares

Insider Activity at Commerce Bancshares

In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 730 shares of Commerce Bancshares stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $54.87, for a total value of $40,055.10. Following the completion of the transaction, the senior vice president now directly owns 25,502 shares of the company’s stock, valued at approximately $1,399,294.74. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 730 shares of Commerce Bancshares stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $54.87, for a total value of $40,055.10. Following the completion of the transaction, the senior vice president now directly owns 25,502 shares of the company’s stock, valued at approximately $1,399,294.74. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director David W. Kemper sold 20,000 shares of the business’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $51.00, for a total value of $1,020,000.00. Following the transaction, the director now directly owns 1,181,172 shares of the company’s stock, valued at $60,239,772. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,660 shares of company stock worth $1,165,859. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Commerce Bancshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BKM Wealth Management LLC purchased a new stake in Commerce Bancshares in the fourth quarter valued at approximately $29,000. Quantbot Technologies LP purchased a new stake in Commerce Bancshares in the second quarter valued at approximately $42,000. Creative Financial Designs Inc. ADV purchased a new stake in Commerce Bancshares in the fourth quarter valued at approximately $35,000. Altshuler Shaham Ltd purchased a new stake in Commerce Bancshares in the fourth quarter valued at approximately $47,000. Finally, PCA Investment Advisory Services Inc. purchased a new stake in shares of Commerce Bancshares during the second quarter worth approximately $38,000. 69.63% of the stock is owned by institutional investors and hedge funds.

Commerce Bancshares Price Performance

Shares of Commerce Bancshares stock opened at $51.81 on Tuesday. Commerce Bancshares has a 1 year low of $40.91 and a 1 year high of $64.86. The firm’s 50-day moving average is $52.97 and its two-hundred day moving average is $50.28. The stock has a market cap of $6.76 billion, a price-to-earnings ratio of 14.27 and a beta of 0.80.

Commerce Bancshares (NASDAQ:CBSHGet Free Report) last issued its earnings results on Thursday, January 18th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.02. The company had revenue of $393.30 million for the quarter, compared to analysts’ expectations of $386.34 million. Commerce Bancshares had a net margin of 24.41% and a return on equity of 17.46%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the business earned $0.99 EPS. On average, equities analysts expect that Commerce Bancshares will post 3.23 earnings per share for the current year.

About Commerce Bancshares

(Get Free Report

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.

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Analyst Recommendations for Commerce Bancshares (NASDAQ:CBSH)

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