Commerce Bancshares, Inc. (NASDAQ:CBSH) Receives $67.83 Average PT from Analysts

Commerce Bancshares, Inc. (NASDAQ:CBSH) has been given a consensus rating of “Hold” by the six analysts that are covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $67.83.

Several research analysts have commented on CBSH shares. Wells Fargo & Company boosted their price objective on shares of Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Raymond James downgraded shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Keefe, Bruyette & Woods boosted their target price on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler increased their price objective on shares of Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Finally, StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, January 13th.

Commerce Bancshares Trading Down 1.7 %

CBSH stock opened at $66.19 on Friday. Commerce Bancshares has a 1-year low of $47.09 and a 1-year high of $72.75. The business’s 50-day moving average price is $65.15 and its two-hundred day moving average price is $64.24. The firm has a market cap of $8.49 billion, a PE ratio of 16.51, a P/E/G ratio of 2.27 and a beta of 0.80.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.95 by $0.06. The business had revenue of $422.10 million during the quarter, compared to the consensus estimate of $417.48 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. Commerce Bancshares’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.84 EPS. On average, analysts forecast that Commerce Bancshares will post 3.9 earnings per share for the current year.

Commerce Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be given a $0.275 dividend. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.66%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 27.43%.

Insider Activity

In other news, SVP David L. Roller sold 890 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $72.27, for a total value of $64,320.30. Following the sale, the senior vice president now directly owns 30,949 shares in the company, valued at approximately $2,236,684.23. This trade represents a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John W. Kemper sold 26,042 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $67.28, for a total value of $1,752,105.76. Following the sale, the chief executive officer now owns 211,929 shares in the company, valued at approximately $14,258,583.12. This trade represents a 10.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,944 shares of company stock valued at $5,835,512 in the last ninety days. Insiders own 3.20% of the company’s stock.

Institutional Trading of Commerce Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CBSH. V Square Quantitative Management LLC purchased a new stake in shares of Commerce Bancshares during the 3rd quarter worth $26,000. CoreFirst Bank & Trust acquired a new position in Commerce Bancshares in the 4th quarter valued at about $33,000. Allworth Financial LP raised its stake in Commerce Bancshares by 51.1% in the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 192 shares during the last quarter. Marshall Investment Management LLC acquired a new position in Commerce Bancshares in the 4th quarter valued at about $35,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Commerce Bancshares during the 3rd quarter worth about $39,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

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.