Commerce Bancshares, Inc. (NASDAQ:CBSH) Receives $65.60 Consensus Target Price from Analysts

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) have received an average rating of "Hold" from the six brokerages that are covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation. The average 1 year price objective among brokerages that have covered the stock in the last year is $66.00.

Several brokerages have weighed in on CBSH. Wells Fargo & Company boosted their price target on Commerce Bancshares from $60.00 to $62.00 and gave the company an "equal weight" rating in a report on Thursday. Morgan Stanley boosted their price target on Commerce Bancshares from $58.00 to $61.00 and gave the company an "equal weight" rating in a report on Tuesday, June 17th. Keefe, Bruyette & Woods cut their price target on Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating for the company in a report on Thursday, April 17th. Bank of America boosted their price target on Commerce Bancshares from $69.00 to $71.00 and gave the company a "neutral" rating in a report on Tuesday, June 24th. Finally, Piper Sandler boosted their price target on Commerce Bancshares from $65.00 to $66.00 and gave the company a "neutral" rating in a report on Thursday, April 17th.

Commerce Bancshares Price Performance

Shares of Commerce Bancshares stock traded down $0.64 during trading on Tuesday, hitting $65.45. 702,537 shares of the company were exchanged, compared to its average volume of 614,991. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.01. Commerce Bancshares has a fifty-two week low of $52.69 and a fifty-two week high of $72.75. The stock has a market capitalization of $8.73 billion, a price-to-earnings ratio of 15.85, a P/E/G ratio of 2.92 and a beta of 0.59. The firm has a 50 day moving average price of $63.21 and a 200 day moving average price of $62.82.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.05. Commerce Bancshares had a return on equity of 16.23% and a net margin of 25.95%. The firm had revenue of $428.05 million during the quarter, compared to the consensus estimate of $417.85 million. On average, equities analysts expect that Commerce Bancshares will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 24th. Stockholders of record on Friday, June 6th were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.68%. Commerce Bancshares's payout ratio is 26.63%.

Insider Activity at Commerce Bancshares

In related news, Director June Mcallister Fowler sold 1,618 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $60.72, for a total transaction of $98,244.96. Following the completion of the sale, the director directly owned 3,175 shares of the company's stock, valued at approximately $192,786. This represents a 33.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.10% of the stock is currently owned by insiders.

Institutional Trading of Commerce Bancshares

Institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC purchased a new stake in Commerce Bancshares during the 1st quarter worth $1,855,000. Integrated Wealth Concepts LLC purchased a new stake in Commerce Bancshares during the 4th quarter worth $842,000. GAMMA Investing LLC boosted its position in Commerce Bancshares by 64.9% during the 1st quarter. GAMMA Investing LLC now owns 1,878 shares of the financial services provider's stock worth $117,000 after purchasing an additional 739 shares during the period. Vanguard Group Inc. boosted its position in Commerce Bancshares by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 13,225,491 shares of the financial services provider's stock valued at $824,080,000 after buying an additional 642,401 shares during the last quarter. Finally, Novem Group boosted its position in Commerce Bancshares by 35.3% in the 1st quarter. Novem Group now owns 16,663 shares of the financial services provider's stock valued at $1,037,000 after buying an additional 4,344 shares during the last quarter. 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.