Analysts Set Commerce Bancshares, Inc. (NASDAQ:CBSH) Target Price at $68.20

Key Points

• Analysts have assigned Commerce Bancshares, Inc. a consensus rating of "Hold", with an average price target of $68.20 for the next year.
• The company's latest earnings report showed an EPS of $1.14, exceeding estimates, and a revenue increase of 7.6% year-over-year.
• Commerce Bancshares announced a quarterly dividend of $0.275, reflecting an annualized payout of $1.10 with a yield of 1.8%.

Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) has received an average rating of "Hold" from the six ratings firms that are covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation. The average 1 year price target among brokerages that have covered the stock in the last year is $68.20.

CBSH has been the subject of a number of research reports. Wall Street Zen cut Commerce Bancshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Bank of America lifted their price objective on Commerce Bancshares from $69.00 to $71.00 and gave the company a "neutral" rating in a research report on Tuesday, June 24th. Morgan Stanley lifted their price objective on Commerce Bancshares from $58.00 to $61.00 and gave the company an "equal weight" rating in a research report on Tuesday, June 17th. Piper Sandler lifted their price objective on Commerce Bancshares from $66.50 to $70.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Finally, Keefe, Bruyette & Woods reduced their price objective on Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating for the company in a research report on Thursday, April 17th.

Hedge Funds Weigh In On Commerce Bancshares

Several institutional investors have recently bought and sold shares of the stock. Savant Capital LLC bought a new position in Commerce Bancshares in the 2nd quarter worth approximately $250,000. Convergence Financial LLC acquired a new position in shares of Commerce Bancshares during the second quarter worth approximately $203,000. Speece Thorson Capital Group Inc. lifted its holdings in shares of Commerce Bancshares by 2.1% during the second quarter. Speece Thorson Capital Group Inc. now owns 235,996 shares of the financial services provider's stock worth $14,672,000 after buying an additional 4,764 shares during the last quarter. IFG Advisory LLC lifted its holdings in shares of Commerce Bancshares by 1.9% during the second quarter. IFG Advisory LLC now owns 105,262 shares of the financial services provider's stock worth $6,544,000 after buying an additional 2,013 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its stake in Commerce Bancshares by 2.9% during the second quarter. Teacher Retirement System of Texas now owns 44,709 shares of the financial services provider's stock valued at $2,780,000 after acquiring an additional 1,263 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Commerce Bancshares Stock Down 0.7%

Shares of Commerce Bancshares stock traded down $0.42 during midday trading on Friday, hitting $60.38. The company's stock had a trading volume of 228,679 shares, compared to its average volume of 649,258. The firm has a market capitalization of $8.06 billion, a P/E ratio of 14.37, a PEG ratio of 2.81 and a beta of 0.61. The stock has a 50-day simple moving average of $62.74 and a 200-day simple moving average of $62.79. 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 earnings results on Wednesday, July 16th. The financial services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.02 by $0.12. The business had revenue of $445.76 million during the quarter, compared to analysts' expectations of $434.11 million. Commerce Bancshares had a return on equity of 16.01% and a net margin of 26.37%. Commerce Bancshares's revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.02 earnings per share. As a group, sell-side 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, September 23rd. Shareholders of record on Friday, September 5th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, September 5th. Commerce Bancshares's dividend payout ratio (DPR) is 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.