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

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) have been assigned an average recommendation of "Hold" from the six analysts that are currently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating. The average twelve-month target price among brokerages that have covered the stock in the last year is $66.00.

A number of analysts have commented on the company. Morgan Stanley upped their price target on Commerce Bancshares from $58.00 to $61.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 17th. Wells Fargo & Company raised their price objective on shares of Commerce Bancshares from $60.00 to $62.00 and gave the company an "equal weight" rating in a research report on Thursday. Piper Sandler increased their price target on Commerce Bancshares from $65.00 to $66.00 and gave the stock a "neutral" rating in a research note on Thursday, April 17th. Keefe, Bruyette & Woods lowered their target price on shares of Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Finally, Wall Street Zen downgraded shares of Commerce Bancshares from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st.

Insider Transactions at Commerce Bancshares

In other Commerce Bancshares news, Director June Mcallister Fowler sold 1,618 shares of the company's stock in a transaction that occurred 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 sale, the director directly owned 3,175 shares in the company, valued at $192,786. This represents a 33.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 3.10% of the stock is currently owned by company insiders.

Institutional Trading of Commerce Bancshares

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

Commerce Bancshares Stock Up 1.2%

Shares of CBSH traded up $0.79 on Tuesday, hitting $66.07. 305,404 shares of the stock traded hands, compared to its average volume of 614,726. The company has a market capitalization of $8.82 billion, a PE ratio of 15.98, a P/E/G ratio of 2.88 and a beta of 0.59. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.76 and a current ratio of 0.76. The business has a 50 day simple moving average of $63.06 and a 200 day simple moving average of $62.78. Commerce Bancshares has a one year low of $52.69 and a one year high of $72.75.

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

Commerce Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 24th. Shareholders of record on Friday, June 6th were given 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 yield of 1.66%. Commerce Bancshares's dividend payout ratio (DPR) is presently 26.63%.

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.