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

Key Points

• Commerce Bancshares, Inc. has received a consensus rating of "Hold" from seven analysts, with an average twelve-month price target of $68.20.
• The company recently reported earnings of $1.14 per share, exceeding analysts' expectations, and showing a 7.6% increase in revenue compared to the previous year.
• Commerce Bancshares declared a quarterly dividend of $0.275 per share, representing an annualized dividend yield of 1.9%, with the ex-dividend date set for September 5th.

Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) has earned an average recommendation of "Hold" from the seven analysts that are currently covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $68.20.

A number of research analysts have recently weighed in on CBSH shares. Zacks Research downgraded Commerce Bancshares from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 27th. Morgan Stanley raised their price objective on shares of Commerce Bancshares from $58.00 to $61.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 17th. Wells Fargo & Company raised their price target on shares of Commerce Bancshares from $62.00 to $69.00 and gave the company an "equal weight" rating in a research report on Monday, July 21st. Piper Sandler lifted their price objective on shares of Commerce Bancshares from $66.50 to $70.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Finally, Bank of America upped their target price on shares of Commerce Bancshares from $69.00 to $71.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 24th.

Commerce Bancshares Stock Performance

CBSH stock traded down $1.02 during mid-day trading on Friday, reaching $59.23. 2,672,894 shares of the stock traded hands, compared to its average volume of 985,015. Commerce Bancshares has a one year low of $52.69 and a one year high of $72.75. The business has a 50-day moving average price of $61.56 and a two-hundred day moving average price of $61.70. The stock has a market capitalization of $7.90 billion, a PE ratio of 14.10, a PEG ratio of 2.71 and a beta of 0.61.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $1.14 earnings per share for the quarter, beating analysts' consensus estimates of $1.02 by $0.12. Commerce Bancshares had a return on equity of 16.01% and a net margin of 26.37%.The company had revenue of $445.76 million for the quarter, compared to analyst estimates of $434.11 million. During the same quarter last year, the firm posted $1.02 EPS. The firm's revenue for the quarter 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 fiscal year.

Commerce Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, September 5th. Commerce Bancshares's payout ratio is presently 26.19%.

Institutional Investors Weigh In On Commerce Bancshares

Several large investors have recently modified their holdings of the company. Smartleaf Asset Management LLC increased its position in Commerce Bancshares by 191.0% during the 1st quarter. Smartleaf Asset Management LLC now owns 451 shares of the financial services provider's stock worth $28,000 after purchasing an additional 296 shares in the last quarter. IMA Advisory Services Inc. purchased a new stake in shares of Commerce Bancshares during the 1st quarter worth about $29,000. Geneos Wealth Management Inc. lifted its position in shares of Commerce Bancshares by 85.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider's stock worth $29,000 after buying an additional 216 shares during the period. CoreFirst Bank & Trust acquired a new position in Commerce Bancshares in the second quarter valued at about $33,000. Finally, Allworth Financial LP raised its holdings in Commerce Bancshares by 55.0% during the first quarter. Allworth Financial LP now owns 651 shares of the financial services provider's stock worth $40,000 after acquiring an additional 231 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

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.