BidaskClub downgraded shares of Commerce Bancshares (NASDAQ:CBSH) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

Other analysts have also issued research reports about the stock. ValuEngine upgraded shares of Commerce Bancshares from a hold rating to a buy rating in a research report on Tuesday, June 5th. Barclays increased their price target on shares of Commerce Bancshares from $63.00 to $68.00 and gave the stock an equal weight rating in a research report on Friday, July 13th. Stephens reiterated a hold rating and set a $65.00 price target on shares of Commerce Bancshares in a research report on Thursday, July 12th. Zacks Investment Research lowered shares of Commerce Bancshares from a buy rating to a hold rating in a research report on Monday, July 2nd. Finally, Wells Fargo & Co increased their price target on shares of Commerce Bancshares from $57.00 to $60.00 and gave the stock a market perform rating in a research report on Tuesday, June 26th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $65.22.

NASDAQ CBSH opened at $70.64 on Tuesday. The company has a market cap of $7.58 billion, a P/E ratio of 25.50, a PEG ratio of 1.88 and a beta of 0.67. Commerce Bancshares has a 1 year low of $51.90 and a 1 year high of $72.55.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Thursday, July 12th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.12. The business had revenue of $335.81 million for the quarter, compared to analyst estimates of $319.25 million. Commerce Bancshares had a net margin of 28.84% and a return on equity of 14.24%. During the same quarter last year, the business posted $0.71 EPS. analysts forecast that Commerce Bancshares will post 3.88 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 24th. Investors of record on Friday, September 7th will be paid a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Thursday, September 6th. Commerce Bancshares’s payout ratio is 33.94%.

In related news, Vice Chairman Jonathan M. Kemper sold 46,030 shares of the stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $65.30, for a total value of $3,005,759.00. Following the completion of the transaction, the insider now owns 993,378 shares of the company’s stock, valued at approximately $64,867,583.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO David W. Kemper sold 9,465 shares of the stock in a transaction that occurred on Wednesday, July 18th. The shares were sold at an average price of $68.60, for a total transaction of $649,299.00. Following the completion of the transaction, the chief executive officer now directly owns 1,291,012 shares of the company’s stock, valued at approximately $88,563,423.20. The disclosure for this sale can be found here. In the last three months, insiders sold 70,123 shares of company stock valued at $4,655,377. 4.00% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of CBSH. Clarus Wealth Advisors bought a new position in shares of Commerce Bancshares during the second quarter valued at $200,000. Wetherby Asset Management Inc. bought a new position in shares of Commerce Bancshares during the first quarter valued at $201,000. Cigna Investments Inc. New bought a new position in shares of Commerce Bancshares during the first quarter valued at $204,000. Segall Bryant & Hamill LLC bought a new position in shares of Commerce Bancshares during the first quarter valued at $204,000. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Commerce Bancshares during the second quarter valued at $206,000. 65.44% of the stock is owned by institutional investors and hedge funds.

About Commerce Bancshares

Commerce Bancshares, Inc operates as the holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online, mobile, and telephone banking services.

Further Reading: Understanding Average Daily Trade Volume

Analyst Recommendations for Commerce Bancshares (NASDAQ:CBSH)

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