Commerce Bancshares, Inc. (NASDAQ:CBSH) Stock Has Average Price Target of $64.71

Key Points

• Analyst consensus is “Hold”: Seven of ten analysts rate Commerce Bancshares as a hold and three as a buy, with an average 12-month price target of $64.71 versus the reported share price of $54.74.
• Commerce Bancshares exceeded quarterly expectations, reporting $1.10 in EPS versus a $1.04 estimate and revenue of $498.91 million versus $492.22 million expected.
• The company paid a quarterly dividend of $0.275 per share, equivalent to an annualized $1.10 dividend and a 2.0% yield; institutional investors own 70.26% of the stock, while insiders sold shares worth about $1.96 million over the past 90 days.

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) have been given an average recommendation of "Hold" by the ten research firms that are covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $64.71.

A number of equities analysts have recently commented on CBSH shares. Morgan Stanley lifted their price objective on Commerce Bancshares from $76.00 to $77.00 and gave the stock an "overweight" rating in a research note on Monday. Raymond James Financial raised Commerce Bancshares to a "hold" rating in a report on Thursday, August 27th. Wells Fargo & Company set a $61.00 price target on Commerce Bancshares and gave the stock an "equal weight" rating in a research report on Tuesday. TD Cowen reiterated a "hold" rating and set a $63.00 price target (up from $62.00) on shares of Commerce Bancshares in a report on Friday, July 17th. Finally, Weiss Ratings raised Commerce Bancshares from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, September 16th.

Insider Buying and Selling

In other news, VP David Orf sold 642 shares of the company's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $60.35, for a total transaction of $38,744.70. Following the completion of the transaction, the vice president owned 24,962 shares of the company's stock, valued at approximately $1,506,456.70. This represents a 2.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Derrick Brooks sold 1,041 shares of the 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 owned 13,117 shares of the company's stock, valued at approximately $782,166.71. The trade was a 7.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 32,950 shares of company stock worth $1,963,777. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Commerce Bancshares

Institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Commerce Bancshares in the second quarter valued at $755,669,000. Commerce Bank bought a new stake in Commerce Bancshares in the 2nd quarter valued at $316,010,000. Dimensional Fund Advisors LP increased its holdings in Commerce Bancshares by 29.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,943,247 shares of the financial services provider's stock valued at $193,999,000 after buying an additional 894,183 shares during the period. Geode Capital Management LLC raised its stake in shares of Commerce Bancshares by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 2,780,678 shares of the financial services provider's stock valued at $147,097,000 after buying an additional 174,863 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Commerce Bancshares by 11.0% in the 1st quarter. First Trust Advisors LP now owns 2,610,223 shares of the financial services provider's stock valued at $128,423,000 after buying an additional 257,817 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Commerce Bancshares Price Performance

NASDAQ CBSH opened at $54.74 on Thursday. Commerce Bancshares has a 1 year low of $46.99 and a 1 year high of $60.92. The company has a fifty day simple moving average of $58.27 and a 200 day simple moving average of $54.80. 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 cap of $7.85 billion, a P/E ratio of 13.25, a P/E/G ratio of 1.98 and a beta of 0.58.

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

Commerce Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Friday, September 4th were issued a $0.2750 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.0%. Commerce Bancshares's dividend payout ratio is 26.63%.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc is a financial holding company headquartered in Kansas City, Missouri. Its principal subsidiary, Commerce Bank, provides banking and financial services to businesses, institutions and individuals through a network of branches and digital channels.

The company's offerings include commercial and consumer lending, deposit accounts, treasury and payment services, credit and debit cards, investment services, brokerage, trust administration and wealth management. Commerce also provides specialized services for businesses, including cash management, merchant processing and other payment solutions.

Commerce Bank traces its history to 1865 and primarily serves customers in Missouri, Kansas, Illinois, Oklahoma and Colorado.

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