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

Key Points

• Analysts' consensus: Hold. Nine analysts cover Commerce Bancshares (8 hold, 1 buy) with an average 12‑month price target of about $59.16.
• Notable insider activity: a director bought 2,500 shares at $47.71 while an SVP sold 949 shares at $51.45, and insiders net sold 29,477 shares (~$1.59M) over the last quarter (insiders own 1.80%).
• Recent results and dividend: Commerce reported $0.96 EPS (beat consensus) with revenue up year‑over‑year but slightly below estimates, has a market cap of $7.64B and a PE of 12.48, and pays a $0.275 quarterly dividend (annualized yield ~2.1%).

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) have been assigned a consensus recommendation of "Hold" from the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $59.1599.

Several research analysts have weighed in on the stock. Morgan Stanley decreased their price objective on Commerce Bancshares from $67.00 to $65.00 and set an "equal weight" rating on the stock in a report on Monday, March 2nd. TD Cowen reaffirmed a "hold" rating and issued a $54.00 price objective (up from $53.00) on shares of Commerce Bancshares in a report on Thursday, April 23rd. Hovde Group decreased their price objective on Commerce Bancshares from $63.00 to $60.00 and set an "outperform" rating on the stock in a report on Wednesday, April 22nd. Weiss Ratings reissued a "hold (c)" rating on shares of Commerce Bancshares in a report on Friday, March 27th. Finally, Piper Sandler reissued a "neutral" rating and issued a $58.50 price objective (up from $56.00) on shares of Commerce Bancshares in a report on Thursday, April 23rd.

Insider Transactions at Commerce Bancshares

In other news, SVP Kim L. Jakovich sold 949 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $51.45, for a total value of $48,826.05. Following the completion of the transaction, the senior vice president owned 12,741 shares of the company's stock, valued at approximately $655,524.45. This represents a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy S. Dunn bought 2,500 shares of the company's stock in a transaction dated Friday, March 13th. The stock was bought at an average cost of $47.71 per share, with a total value of $119,275.00. Following the acquisition, the director directly owned 5,403 shares of the company's stock, valued at approximately $257,777.13. The trade was a 86.12% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders sold 29,477 shares of company stock worth $1,586,655. Corporate insiders own 1.80% of the company's stock.

Institutional Trading of Commerce Bancshares

Hedge funds and other institutional investors have recently made changes to their positions in the company. Apriem Advisors lifted its holdings in shares of Commerce Bancshares by 5.0% during the fourth quarter. Apriem Advisors now owns 4,018 shares of the financial services provider's stock worth $210,000 after purchasing an additional 191 shares during the period. Heartland Bank & Trust Co lifted its stake in shares of Commerce Bancshares by 4.4% in the fourth quarter. Heartland Bank & Trust Co now owns 4,595 shares of the financial services provider's stock worth $240,000 after acquiring an additional 192 shares during the period. Profund Advisors LLC lifted its position in shares of Commerce Bancshares by 4.4% in the 3rd quarter. Profund Advisors LLC now owns 4,682 shares of the financial services provider's stock worth $280,000 after purchasing an additional 197 shares during the period. Oregon Public Employees Retirement Fund lifted its position in shares of Commerce Bancshares by 0.8% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 25,004 shares of the financial services provider's stock worth $1,494,000 after purchasing an additional 200 shares during the period. Finally, Outlook Wealth Advisors LLC lifted its position in shares of Commerce Bancshares by 3.7% in the 4th quarter. Outlook Wealth Advisors LLC now owns 5,934 shares of the financial services provider's stock worth $311,000 after purchasing an additional 214 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Commerce Bancshares Stock Performance

CBSH opened at $52.03 on Monday. Commerce Bancshares has a 52-week low of $46.99 and a 52-week high of $63.19. The firm has a market capitalization of $7.64 billion, a PE ratio of 12.48, a PEG ratio of 3.72 and a beta of 0.61. The business's 50-day simple moving average is $50.19 and its 200 day simple moving average is $51.66.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.94 by $0.02. Commerce Bancshares had a return on equity of 14.78% and a net margin of 26.37%.The business had revenue of $475.69 million during the quarter, compared to analysts' expectations of $481.94 million. During the same quarter last year, the company posted $0.98 earnings per share. Commerce Bancshares's quarterly revenue was up 11.1% on a year-over-year basis. On average, research analysts forecast that Commerce Bancshares will post 4.1 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.10 annualized dividend and a yield of 2.1%. Commerce Bancshares's payout ratio is currently 26.38%.

About Commerce Bancshares

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company's commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.

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