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

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) have earned a consensus recommendation of "Hold" from the six analysts that are covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $63.20.

Several research analysts have recently commented on CBSH shares. Keefe, Bruyette & Woods decreased their target price 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. StockNews.com downgraded shares of Commerce Bancshares from a "hold" rating to a "sell" rating in a research report on Thursday, April 17th. Piper Sandler increased their price objective on shares of Commerce Bancshares from $65.00 to $66.00 and gave the stock a "neutral" rating in a research note on Thursday, April 17th. Morgan Stanley upgraded Commerce Bancshares from an "underweight" rating to an "equal weight" rating and decreased their target price for the company from $66.00 to $58.00 in a research note on Monday, April 7th. Finally, Wells Fargo & Company dropped their price target on 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.

Commerce Bancshares Stock Down 0.4 %

Shares of Commerce Bancshares stock traded down $0.24 on Thursday, hitting $60.79. 43,341 shares of the company's stock traded hands, compared to its average volume of 587,485. Commerce Bancshares has a 52-week low of $49.97 and a 52-week high of $72.75. The stock has a market cap of $8.15 billion, a P/E ratio of 15.15, a PEG ratio of 2.13 and a beta of 0.71. The firm's 50-day moving average is $60.84 and its 200 day moving average is $64.27.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last released its earnings results on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.05. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The company had revenue of $428.05 million during the quarter, compared to the consensus estimate of $417.85 million. Equities research analysts forecast 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, June 24th. Stockholders of record on Friday, June 6th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Friday, June 6th. Commerce Bancshares's payout ratio is 26.63%.

Insiders Place Their Bets

In other news, VP David L. Orf sold 1,036 shares of the firm's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $68.24, for a total transaction of $70,696.64. Following the completion of the transaction, the vice president now directly owns 22,175 shares of the company's stock, valued at approximately $1,513,222. This trade represents a 4.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Patricia R. Kellerhals sold 1,719 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $67.30, for a total value of $115,688.70. Following the sale, the senior vice president now directly owns 18,688 shares in the company, valued at $1,257,702.40. The trade was a 8.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,842 shares of company stock valued at $3,423,857 in the last quarter. Insiders own 3.10% of the company's stock.

Hedge Funds Weigh In On Commerce Bancshares

A number of large investors have recently modified their holdings of CBSH. Atria Wealth Solutions Inc. grew its position in shares of Commerce Bancshares by 1.5% during the 4th quarter. Atria Wealth Solutions Inc. now owns 11,062 shares of the financial services provider's stock worth $689,000 after buying an additional 166 shares during the period. Canopy Partners LLC boosted its position in shares of Commerce Bancshares by 4.9% in the 4th quarter. Canopy Partners LLC now owns 3,609 shares of the financial services provider's stock worth $225,000 after purchasing an additional 168 shares during the last quarter. Apriem Advisors increased its holdings in Commerce Bancshares by 5.0% in the fourth quarter. Apriem Advisors now owns 3,827 shares of the financial services provider's stock valued at $238,000 after purchasing an additional 182 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its position in shares of Commerce Bancshares by 4.9% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 3,908 shares of the financial services provider's stock worth $244,000 after buying an additional 183 shares during the period. Finally, Verde Capital Management raised its position in shares of Commerce Bancshares by 5.4% in the 4th quarter. Verde Capital Management now owns 3,573 shares of the financial services provider's stock valued at $223,000 after acquiring an additional 183 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

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.