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

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) have been assigned an average rating of "Hold" from the six research firms that are covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $65.60.

Several equities research analysts have commented on the stock. Morgan Stanley upped their price target on shares of 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 dropped their target price on Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Wells Fargo & Company reduced their price target on Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Piper Sandler upped their price objective on Commerce Bancshares from $65.00 to $66.00 and gave the stock a "neutral" rating in a research report on Thursday, April 17th. Finally, Wall Street Zen cut Commerce Bancshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st.

Commerce Bancshares Stock Up 0.2%

CBSH traded up $0.15 during trading on Tuesday, hitting $65.28. The stock had a trading volume of 534,728 shares, compared to its average volume of 615,914. The stock has a 50 day simple moving average of $62.97 and a two-hundred day simple moving average of $62.76. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.76 and a current ratio of 0.76. Commerce Bancshares has a twelve month low of $52.69 and a twelve month high of $72.75. The company has a market capitalization of $8.71 billion, a PE ratio of 15.81, a PEG ratio of 2.88 and a beta of 0.59.

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

Commerce Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 24th. Shareholders of record on Friday, June 6th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Friday, June 6th. 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 business's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $60.72, for a total value of $98,244.96. Following the sale, the director owned 3,175 shares in the company, valued at approximately $192,786. The trade was a 33.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Commerce Bancshares

Several institutional investors have recently bought and sold shares of the company. Kapitalo Investimentos Ltda purchased a new position in shares of Commerce Bancshares in the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC lifted its holdings in Commerce Bancshares by 191.0% during the 1st quarter. Smartleaf Asset Management LLC now owns 451 shares of the financial services provider's stock worth $28,000 after buying an additional 296 shares in the last quarter. IMA Advisory Services Inc. purchased a new position in Commerce Bancshares in the 1st quarter valued at approximately $29,000. Geneos Wealth Management Inc. grew its stake in shares of Commerce Bancshares by 85.4% in the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider's stock worth $29,000 after acquiring an additional 216 shares in the last quarter. Finally, CoreFirst Bank & Trust purchased a new stake in shares of Commerce Bancshares during the fourth quarter worth $33,000. 70.26% of the stock is 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.