Commerce Bancshares, Inc. (NASDAQ:CBSH) Given Consensus Recommendation of "Hold" by Analysts

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) have earned an average recommendation of "Hold" from the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation. The average 1 year target price among brokers that have covered the stock in the last year is $63.20.

Several research firms have recently issued reports on CBSH. Morgan Stanley raised Commerce Bancshares from an "underweight" rating to an "equal weight" rating and cut their price target for the stock from $66.00 to $58.00 in a research note on Monday, April 7th. Wells Fargo & Company reduced their price objective on Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Wall Street Zen downgraded Commerce Bancshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Piper Sandler boosted their price objective on shares of Commerce Bancshares from $65.00 to $66.00 and gave the stock a "neutral" rating in a report on Thursday, April 17th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating on the stock in a research note on Thursday, April 17th.

Commerce Bancshares Price Performance

Shares of CBSH traded down $1.36 during mid-day trading on Friday, reaching $60.68. The company's stock had a trading volume of 477,567 shares, compared to its average volume of 595,655. The stock has a market cap of $8.10 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 2.13 and a beta of 0.60. Commerce Bancshares has a 12-month low of $49.97 and a 12-month high of $72.75. The company's 50 day moving average is $61.80 and its 200 day moving average is $63.63.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its earnings results on Wednesday, April 16th. The financial services provider reported $0.98 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.05. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The business had revenue of $428.05 million for the quarter, compared to analysts' expectations of $417.85 million. As a group, sell-side analysts anticipate that Commerce Bancshares will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 24th. Shareholders of record on Friday, June 6th will be given a $0.275 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.10 dividend on an annualized basis and a yield of 1.81%. Commerce Bancshares's dividend payout ratio (DPR) is 26.63%.

Insider Buying and Selling at Commerce Bancshares

In related news, Director June Mcallister Fowler sold 1,618 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $60.72, for a total transaction of $98,244.96. Following the completion of the sale, the director now directly owns 3,175 shares in the company, valued at approximately $192,786. This trade represents a 33.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Commerce Bancshares

Large investors have recently modified their holdings of the stock. Modern Wealth Management LLC lifted its holdings in shares of Commerce Bancshares by 1.3% during the first quarter. Modern Wealth Management LLC now owns 17,019 shares of the financial services provider's stock valued at $1,059,000 after purchasing an additional 220 shares during the last quarter. Advisors Capital Management LLC acquired a new position in shares of Commerce Bancshares in the first quarter worth about $481,000. Geneos Wealth Management Inc. increased 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 acquiring an additional 216 shares in the last quarter. Bayforest Capital Ltd raised its holdings in shares of Commerce Bancshares by 203.0% during the first quarter. Bayforest Capital Ltd now owns 3,381 shares of the financial services provider's stock valued at $210,000 after acquiring an additional 2,265 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Commerce Bancshares by 6.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 487,478 shares of the financial services provider's stock valued at $30,336,000 after acquiring an additional 30,915 shares in the last quarter. 70.26% of the stock is owned by 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.