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

Key Points

• Commerce Bancshares, Inc. has received a consensus recommendation of "Hold" from six brokerage firms, with an average price objective of $68.20 over the next 12 months.
• The company recently declared a quarterly dividend of $0.275 per share, with a dividend yield of 1.8% and a payout ratio of 26.19%.
• Commerce Bancshares reported earnings of $1.14 per share in its latest quarterly report, exceeding analyst estimates and showing a 7.6% increase in revenue year-over-year.

Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) has earned a consensus recommendation of "Hold" from the six ratings firms that are currently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $68.20.

Several brokerages have recently commented on CBSH. Wells Fargo & Company upped their price objective on shares of Commerce Bancshares from $62.00 to $69.00 and gave the company an "equal weight" rating in a research note on Monday, July 21st. Morgan Stanley upped their price objective on shares of Commerce Bancshares from $58.00 to $61.00 and gave the stock an "equal weight" rating in a report on Tuesday, June 17th. Wall Street Zen cut shares of Commerce Bancshares from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Piper Sandler raised their target price on shares of Commerce Bancshares from $66.50 to $70.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Finally, Bank of America raised their target price on shares of Commerce Bancshares from $69.00 to $71.00 and gave the stock a "neutral" rating in a report on Tuesday, June 24th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Commerce Bancshares by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 13,493,741 shares of the financial services provider's stock valued at $839,716,000 after buying an additional 268,250 shares in the last quarter. Aristotle Capital Management LLC increased its holdings in shares of Commerce Bancshares by 4.3% in the 4th quarter. Aristotle Capital Management LLC now owns 8,566,476 shares of the financial services provider's stock worth $533,777,000 after buying an additional 351,406 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Commerce Bancshares by 4.4% during the 1st quarter. American Century Companies Inc. now owns 3,836,113 shares of the financial services provider's stock worth $238,721,000 after purchasing an additional 161,082 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Commerce Bancshares by 2.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,321,855 shares of the financial services provider's stock worth $144,479,000 after purchasing an additional 49,737 shares during the period. Finally, Boston Trust Walden Corp boosted its stake in shares of Commerce Bancshares by 1.9% during the 2nd quarter. Boston Trust Walden Corp now owns 1,483,309 shares of the financial services provider's stock worth $92,217,000 after purchasing an additional 27,813 shares during the period. Hedge funds and other institutional investors own 70.26% of the company's stock.

Commerce Bancshares Stock Up 0.8%

NASDAQ CBSH opened at $62.68 on Wednesday. The company has a 50-day simple moving average of $62.44 and a two-hundred day simple moving average of $62.26. Commerce Bancshares has a 12-month low of $52.69 and a 12-month high of $72.75. The firm has a market cap of $8.36 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 2.84 and a beta of 0.61.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.12. The business had revenue of $445.76 million during the quarter, compared to analyst estimates of $434.11 million. Commerce Bancshares had a net margin of 26.37% and a return on equity of 16.01%. The company's revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.02 earnings per share. Equities analysts expect that Commerce Bancshares will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, September 5th. Commerce Bancshares's dividend payout ratio (DPR) is currently 26.19%.

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.

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