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

Key Points

• Commerce Bancshares has a consensus “Hold” rating from 10 analysts: seven recommend holding the stock and three recommend buying it. The average 12-month price target is $63.29, above the reported $58.37 share price.
• The company exceeded quarterly expectations, reporting $1.10 in EPS versus the $1.04 consensus estimate and revenue of $498.91 million. Analysts expect full-year EPS of approximately $4.23.
• Commerce Bancshares declared a quarterly dividend of $0.275 per share, equivalent to an annualized $1.10 payout and a 1.9% yield. Insiders have sold 33,150 shares worth nearly $2.0 million over the past 90 days, while institutional investors own 70.26% of the stock.

Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) has received an average recommendation of "Hold" from the ten brokerages that are presently covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $63.2857.

Several research firms have recently issued reports on CBSH. Keefe, Bruyette & Woods lifted their price objective on shares of Commerce Bancshares from $60.00 to $62.00 and gave the stock a "market perform" rating in a research report on Monday, July 20th. Wells Fargo & Company set a $63.00 price target on Commerce Bancshares and gave the company an "equal weight" rating in a research note on Monday, August 10th. Raymond James Financial raised Commerce Bancshares to a "hold" rating in a report on Thursday, August 27th. Stephens set a $64.00 price objective on Commerce Bancshares and gave the stock an "equal weight" rating in a research report on Friday, July 17th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $66.00 price objective (up from $59.00) on shares of Commerce Bancshares in a report on Friday, July 17th.

Insider Buying and Selling

In related news, VP David Orf sold 642 shares of the company's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $60.35, for a total value of $38,744.70. Following the completion of the sale, the vice president owned 24,962 shares in the company, valued at $1,506,456.70. This represents a 2.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Derrick Brooks sold 1,041 shares of the company's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $59.63, for a total transaction of $62,074.83. Following the completion of the sale, the senior vice president directly owned 13,117 shares of the company's stock, valued at $782,166.71. The trade was a 7.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 33,150 shares of company stock valued at $1,974,783 in the last 90 days. Company insiders own 1.80% of the company's stock.

Hedge Funds Weigh In On Commerce Bancshares

Large investors have recently modified their holdings of the business. Danske Bank A S acquired a new stake in shares of Commerce Bancshares in the 3rd quarter worth approximately $25,000. Keating Financial Advisory Services Inc. acquired a new stake in Commerce Bancshares in the second quarter valued at $29,000. Geneos Wealth Management Inc. grew its holdings 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. Root Financial Partners LLC increased its position in shares of Commerce Bancshares by 104.9% in the first quarter. Root Financial Partners LLC now owns 623 shares of the financial services provider's stock valued at $31,000 after buying an additional 319 shares in the last quarter. Finally, Rothschild Investment LLC raised its stake in shares of Commerce Bancshares by 75.3% during the 4th quarter. Rothschild Investment LLC now owns 1,031 shares of the financial services provider's stock worth $54,000 after buying an additional 443 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Commerce Bancshares Price Performance

CBSH stock opened at $58.37 on Friday. The business's fifty day moving average price is $58.77 and its 200 day moving average price is $54.10. Commerce Bancshares has a 12-month low of $46.99 and a 12-month high of $60.92. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $8.37 billion, a PE ratio of 14.13, a P/E/G ratio of 2.09 and a beta of 0.58.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last issued its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.10 EPS for the quarter, beating the consensus estimate of $1.04 by $0.06. The company had revenue of $498.91 million during the quarter, compared to analysts' expectations of $492.22 million. Commerce Bancshares had a net margin of 26.07% and a return on equity of 14.31%. During the same quarter last year, the company posted $1.14 EPS. On average, sell-side analysts anticipate that Commerce Bancshares will post 4.23 EPS for the current year.

Commerce Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Friday, September 4th will be given a dividend of $0.275 per share. The ex-dividend date is Friday, September 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.9%. Commerce Bancshares's payout ratio is 26.63%.

About Commerce Bancshares

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company's commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.