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

Key Points

• Commerce Bancshares has a consensus analyst rating of "Hold", with eight hold ratings and one buy rating; the average 1-year price target is about $59.30.
• The company recently reported Q1 earnings of $0.96 per share, beating estimates by $0.02, while revenue came in slightly below expectations at $475.69 million.
• Commerce Bancshares declared a quarterly dividend of $0.275 per share, implying an annualized yield of about 2.1%, and the stock opened around $52.01 after trading up 0.1%.

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) have been assigned a consensus recommendation of "Hold" from the nine research firms that are presently covering the firm, MarketBeat.com reports. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $59.3027.

CBSH has been the topic of several research analyst reports. Morgan Stanley dropped their price objective on Commerce Bancshares from $67.00 to $65.00 and set an "equal weight" rating on the stock in a research note on Monday, March 2nd. TD Cowen reissued a "hold" rating and set a $54.00 price objective (up from $53.00) on shares of Commerce Bancshares in a research report on Thursday, April 23rd. Piper Sandler reissued a "neutral" rating and set a $58.50 price objective (up from $56.00) on shares of Commerce Bancshares in a research report on Thursday, April 23rd. Zacks Research raised shares of Commerce Bancshares from a "strong sell" rating to a "hold" rating in a research report on Wednesday, March 4th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Commerce Bancshares in a research report on Friday, March 27th.

Commerce Bancshares Trading Up 0.1%

Shares of Commerce Bancshares stock opened at $52.01 on Friday. The company has a market capitalization of $7.58 billion, a PE ratio of 12.47, a PEG ratio of 3.53 and a beta of 0.61. Commerce Bancshares has a 12 month low of $46.99 and a 12 month high of $63.19. The stock's fifty day simple moving average is $50.63 and its 200 day simple moving average is $51.78.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.94 by $0.02. The business had revenue of $475.69 million for the quarter, compared to the consensus estimate of $481.94 million. Commerce Bancshares had a return on equity of 14.78% and a net margin of 26.37%.The firm's revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. Analysts predict that Commerce Bancshares will post 4.12 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

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

Insider Buying and Selling at Commerce Bancshares

In other news, Director Timothy S. Dunn purchased 2,500 shares of the company's stock in a transaction on Friday, March 13th. The shares were purchased at an average price of $47.71 per share, with a total value of $119,275.00. Following the purchase, the director directly owned 5,403 shares of the company's stock, valued at $257,777.13. This trade represents a 86.12% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Kim L. Jakovich sold 949 shares of Commerce Bancshares 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 sale, the senior vice president directly owned 12,741 shares in the company, valued at $655,524.45. This represents a 6.93% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.80% of the company's stock.

Institutional Trading of Commerce Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the company. Danske Bank A S acquired a new stake in shares of Commerce Bancshares in the 3rd quarter valued at about $25,000. Geneos Wealth Management Inc. raised its stake in shares of Commerce Bancshares by 85.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 216 shares during the period. Daytona Street Capital LLC acquired a new stake in shares of Commerce Bancshares in the 4th quarter valued at about $25,000. Rothschild Investment LLC raised its stake in shares of Commerce Bancshares by 3,820.0% in the 3rd quarter. Rothschild Investment LLC now owns 588 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 573 shares during the period. Finally, Root Financial Partners LLC raised its stake in shares of Commerce Bancshares by 104.9% in the 1st quarter. Root Financial Partners LLC now owns 623 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 319 shares during the period. Institutional investors and hedge funds own 70.26% of the company's stock.

Commerce Bancshares Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.