Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) has received a consensus recommendation of "Hold" from the ten research firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $68.4286.
A number of research analysts have issued reports on CBSH shares. Hovde Group started coverage on shares of Commerce Bancshares in a research report on Monday, October 6th. They set an "outperform" rating and a $70.00 target price on the stock. Zacks Research lowered shares of Commerce Bancshares from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 27th. Piper Sandler increased their price objective on shares of Commerce Bancshares from $66.50 to $70.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Wells Fargo & Company cut their price target on Commerce Bancshares from $69.00 to $65.00 and set an "equal weight" rating on the stock in a research note on Monday, September 29th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Commerce Bancshares in a research note on Wednesday, October 8th.
Check Out Our Latest Stock Analysis on Commerce Bancshares
Institutional Investors Weigh In On Commerce Bancshares
A number of hedge funds and other institutional investors have recently made changes to their positions in CBSH. Smartleaf Asset Management LLC raised its position in Commerce Bancshares by 191.0% in the 1st quarter. Smartleaf Asset Management LLC now owns 451 shares of the financial services provider's stock valued at $28,000 after buying an additional 296 shares during the last quarter. IMA Advisory Services Inc. bought a new stake in shares of Commerce Bancshares in the first quarter worth $29,000. Geneos Wealth Management Inc. lifted its position in shares of Commerce Bancshares by 85.4% in the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider's stock worth $29,000 after purchasing an additional 216 shares in the last quarter. CoreFirst Bank & Trust bought a new stake in shares of Commerce Bancshares in the second quarter worth $33,000. Finally, Allworth Financial LP lifted its position in Commerce Bancshares by 55.0% during the 1st quarter. Allworth Financial LP now owns 651 shares of the financial services provider's stock worth $40,000 after buying an additional 231 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.
Commerce Bancshares Stock Down 3.8%
Shares of NASDAQ CBSH opened at $56.66 on Thursday. The firm's 50-day simple moving average is $60.24 and its 200 day simple moving average is $61.37. The company has a market cap of $7.56 billion, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 7.25 and a beta of 0.59. Commerce Bancshares has a 12-month low of $52.69 and a 12-month high of $72.75.
Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.12. Commerce Bancshares had a net margin of 26.37% and a return on equity of 16.01%. The business had revenue of $445.76 million for the quarter, compared to the consensus estimate of $434.11 million. During the same quarter in the prior year, the company earned $1.02 EPS. The firm's quarterly revenue was up 7.6% on a year-over-year basis. On average, equities analysts expect that Commerce Bancshares will post 3.94 earnings per share for the current year.
Commerce Bancshares Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.9%. Commerce Bancshares's dividend payout ratio (DPR) is currently 26.19%.
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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