Commerce Bancshares, Inc. (NASDAQ:CBSH) has earned a consensus recommendation of “Hold” from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $58.20.

Several equities research analysts recently weighed in on the stock. DA Davidson upped their target price on shares of Commerce Bancshares to $62.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 17th. Stephens assumed coverage on shares of Commerce Bancshares in a research report on Monday, September 16th. They issued a “weight” rating and a $59.00 price objective on the stock. Morgan Stanley dropped their price objective on shares of Commerce Bancshares from $56.00 to $55.00 and set an “underweight” rating on the stock in a research report on Thursday, October 3rd. BidaskClub raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, September 12th. Finally, Raymond James downgraded shares of Commerce Bancshares from a “market perform” rating to an “underperform” rating in a research report on Monday, July 8th.

In other news, CEO John W. Kemper sold 2,077 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $61.45, for a total value of $127,631.65. Following the completion of the transaction, the chief executive officer now owns 152,280 shares in the company, valued at approximately $9,357,606. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Jeffrey M. Burik sold 3,200 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $60.96, for a total transaction of $195,072.00. Following the completion of the transaction, the senior vice president now owns 17,120 shares of the company’s stock, valued at approximately $1,043,635.20. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.

Several institutional investors have recently modified their holdings of CBSH. Nomura Asset Management Co. Ltd. acquired a new position in shares of Commerce Bancshares in the 2nd quarter valued at $35,000. Synovus Financial Corp acquired a new position in shares of Commerce Bancshares in the 2nd quarter valued at $49,000. Captrust Financial Advisors acquired a new position in shares of Commerce Bancshares in the 2nd quarter valued at $50,000. Point72 Asset Management L.P. acquired a new position in shares of Commerce Bancshares in the 2nd quarter valued at $60,000. Finally, Trustcore Financial Services LLC acquired a new position in shares of Commerce Bancshares in the 2nd quarter valued at $75,000. Institutional investors and hedge funds own 65.84% of the company’s stock.

CBSH traded up $0.89 during trading hours on Tuesday, hitting $60.25. 562,096 shares of the company’s stock were exchanged, compared to its average volume of 447,309. Commerce Bancshares has a 12-month low of $53.40 and a 12-month high of $67.94. The firm has a 50 day moving average of $59.16 and a 200 day moving average of $59.05. The firm has a market cap of $6.56 billion, a P/E ratio of 15.94, a price-to-earnings-growth ratio of 5.44 and a beta of 0.75.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.02. Commerce Bancshares had a net margin of 29.90% and a return on equity of 15.02%. The firm had revenue of $338.90 million for the quarter, compared to the consensus estimate of $339.94 million. During the same period in the prior year, the firm earned $0.96 EPS. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. Analysts predict that Commerce Bancshares will post 3.66 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 6th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend was Thursday, September 5th. Commerce Bancshares’s dividend payout ratio is presently 27.51%.

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. 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 banking services.

Further Reading: Price to Earnings Ratio (PE) Basics

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