Commerce Bancshares, Inc. (NASDAQ:CBSH) Given Consensus Recommendation 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 been assigned an average rating of "Hold" from the seven research firms that are currently covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $68.20.

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

Institutional Trading of Commerce Bancshares

A number of institutional investors have recently made changes to their positions in CBSH. Deutsche Bank AG increased its holdings in Commerce Bancshares by 16.3% during the 4th quarter. Deutsche Bank AG now owns 9,921 shares of the financial services provider's stock worth $618,000 after purchasing an additional 1,387 shares during the period. Man Group plc raised its holdings in Commerce Bancshares by 248.0% during the fourth quarter. Man Group plc now owns 18,203 shares of the financial services provider's stock worth $1,134,000 after purchasing an additional 12,972 shares during the last quarter. Royal Bank of Canada grew its position in Commerce Bancshares by 8.8% during the fourth quarter. Royal Bank of Canada now owns 451,111 shares of the financial services provider's stock valued at $28,109,000 after acquiring an additional 36,523 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Commerce Bancshares by 26.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 456,563 shares of the financial services provider's stock valued at $28,448,000 after purchasing an additional 94,287 shares during the last quarter. Finally, GTS Securities LLC purchased a new position in Commerce Bancshares in the fourth quarter valued at about $316,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Commerce Bancshares Price Performance

CBSH traded down $0.27 during mid-day trading on Friday, hitting $58.53. The stock had a trading volume of 225,127 shares, compared to its average volume of 688,690. The stock's fifty day simple moving average is $61.41 and its 200-day simple moving average is $61.68. The firm has a market capitalization of $7.81 billion, a price-to-earnings ratio of 13.95, a price-to-earnings-growth ratio of 2.71 and a beta of 0.61. Commerce Bancshares has a 1-year low of $52.69 and a 1-year high of $72.75.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $445.76 million during the quarter, compared to the consensus estimate of $434.11 million. During the same quarter in the prior year, the firm earned $1.02 earnings per share. The firm's revenue was up 7.6% compared to the same quarter last year. As a group, research analysts expect that Commerce Bancshares will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

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

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.