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

Key Points

• Commerce Bancshares, Inc. has received an average rating of "Hold" from six brokerages, with an average target price of $68.20.
• The company reported earnings of $1.14 per share, exceeding analysts' expectations and showing a revenue increase of 7.6% year-over-year.
• A quarterly dividend of $0.275 per share is set to be paid on September 23rd, representing a yield of 1.8%.

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) have been given an average rating of "Hold" by the six brokerages that are covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $68.20.

CBSH has been the subject of several recent analyst reports. Bank of America lifted their price objective 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. Morgan Stanley lifted 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 note on Tuesday, June 17th. Wall Street Zen lowered shares of Commerce Bancshares from a "hold" rating to a "sell" rating in a research note on Wednesday, May 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 research note on Thursday, July 17th. Finally, Wells Fargo & Company lifted their price objective on shares of Commerce Bancshares from $62.00 to $69.00 and gave the stock an "equal weight" rating in a research note on Monday, July 21st.

Commerce Bancshares Stock Performance

CBSH stock opened at $62.68 on Wednesday. The firm has a fifty day moving average price of $62.44 and a 200 day moving average price of $62.26. Commerce Bancshares has a fifty-two week low of $52.69 and a fifty-two week high of $72.75. The firm has a market cap of $8.36 billion, a PE ratio of 14.92, a price-to-earnings-growth ratio of 2.84 and a beta of 0.61.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its earnings results 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 net margin of 26.37% and a return on equity of 16.01%. The firm had revenue of $445.76 million during the quarter, compared to analyst estimates of $434.11 million. During the same period last year, the firm posted $1.02 earnings per share. Commerce Bancshares's revenue for the quarter was up 7.6% compared to the same quarter last year. On average, equities analysts predict that Commerce Bancshares will post 3.94 EPS for the current year.

Commerce Bancshares Dividend Announcement

The company 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 1.8%. The ex-dividend date of this dividend is Friday, September 5th. Commerce Bancshares's payout ratio is presently 26.19%.

Institutional Trading of Commerce Bancshares

A number of large investors have recently made changes to their positions in the stock. Headlands Technologies LLC purchased a new stake in shares of Commerce Bancshares during the second quarter valued at $59,000. Vident Advisory LLC boosted its stake in shares of Commerce Bancshares by 29.4% during the second quarter. Vident Advisory LLC now owns 5,417 shares of the financial services provider's stock valued at $337,000 after purchasing an additional 1,232 shares during the period. Rafferty Asset Management LLC boosted its stake in shares of Commerce Bancshares by 14.8% during the second quarter. Rafferty Asset Management LLC now owns 96,878 shares of the financial services provider's stock valued at $6,023,000 after purchasing an additional 12,484 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Commerce Bancshares by 4.0% during the second quarter. Lazard Asset Management LLC now owns 410,965 shares of the financial services provider's stock valued at $25,549,000 after purchasing an additional 15,840 shares during the period. Finally, Hilton Capital Management LLC boosted its stake in shares of Commerce Bancshares by 10.6% during the second quarter. Hilton Capital Management LLC now owns 40,928 shares of the financial services provider's stock valued at $2,544,000 after purchasing an additional 3,919 shares during the period. 70.26% of the stock is owned by hedge funds and other 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.

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