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

Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) has received an average recommendation of "Hold" from the six brokerages that are presently covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $63.20.

CBSH has been the topic of a number of analyst reports. Piper Sandler lifted their price objective on shares of Commerce Bancshares from $65.00 to $66.00 and gave the company a "neutral" rating in a research report on Thursday, April 17th. Wells Fargo & Company lowered their price objective on shares of Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Keefe, Bruyette & Woods lowered their price objective on shares of Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating on the stock in a research report on Thursday, April 17th. Morgan Stanley upgraded shares of Commerce Bancshares from an "underweight" rating to an "equal weight" rating and lowered their price objective for the company from $66.00 to $58.00 in a research report on Monday, April 7th. Finally, Wall Street Zen lowered shares of Commerce Bancshares from a "hold" rating to a "sell" rating in a research report on Wednesday.

Commerce Bancshares Price Performance

Shares of CBSH traded down $0.47 during mid-day trading on Monday, reaching $62.76. 484,581 shares of the company's stock were exchanged, compared to its average volume of 594,419. The stock has a market capitalization of $8.37 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 2.13 and a beta of 0.60. The business's fifty day simple moving average is $61.21 and its 200-day simple moving average is $64.41. Commerce Bancshares has a 52-week low of $49.97 and a 52-week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.05. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The firm had revenue of $428.05 million for the quarter, compared to analyst estimates of $417.85 million. Equities research analysts predict that Commerce Bancshares will post 3.94 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 24th. Shareholders of record on Friday, June 6th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.10 annualized dividend and a dividend yield of 1.75%. Commerce Bancshares's payout ratio is currently 26.63%.

Insiders Place Their Bets

In other news, Director June Mcallister Fowler sold 1,618 shares of Commerce Bancshares stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $60.72, for a total transaction of $98,244.96. Following the completion of the transaction, the director now owns 3,175 shares of the company's stock, valued at $192,786. The trade was a 33.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 3.10% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Commerce Bancshares by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 13,493,741 shares of the financial services provider's stock worth $839,716,000 after buying an additional 268,250 shares during the last quarter. Aristotle Capital Management LLC raised its stake in shares of Commerce Bancshares by 4.3% during the 4th quarter. Aristotle Capital Management LLC now owns 8,566,476 shares of the financial services provider's stock worth $533,777,000 after buying an additional 351,406 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Commerce Bancshares by 4.4% during the 1st quarter. American Century Companies Inc. now owns 3,836,113 shares of the financial services provider's stock worth $238,721,000 after buying an additional 161,082 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Commerce Bancshares by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 2,484,463 shares of the financial services provider's stock worth $155,756,000 after buying an additional 87,723 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Commerce Bancshares by 2.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,321,855 shares of the financial services provider's stock worth $144,479,000 after buying an additional 49,737 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

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.