Commerce Bancshares, Inc. (NASDAQ:CBSH) Given Average Rating of “Hold” by Analysts

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have been given a consensus rating of “Hold” by the six ratings firms that are covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation. The average 1-year price target among brokers that have covered the stock in the last year is $66.00.

A number of equities analysts have commented on the stock. Wall Street Zen cut shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. Bank of America lifted 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. Piper Sandler increased their price target on shares of Commerce Bancshares from $65.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, April 17th. Morgan Stanley raised their price objective on shares of Commerce Bancshares from $58.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 17th. Finally, Wells Fargo & Company upped their target price on Commerce Bancshares from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Thursday.

Insider Activity

In other news, Director June Mcallister Fowler sold 1,618 shares of Commerce Bancshares stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $60.72, for a total value of $98,244.96. Following the completion of the sale, the director directly owned 3,175 shares in the company, valued at approximately $192,786. The trade was a 33.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.10% of the stock is currently owned by insiders.

Institutional Trading of Commerce Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Kapitalo Investimentos Ltda acquired a new position in Commerce Bancshares during the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC increased its stake in shares of Commerce Bancshares by 191.0% in the 1st quarter. Smartleaf Asset Management LLC now owns 451 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 296 shares during the last quarter. IMA Advisory Services Inc. acquired a new position in shares of Commerce Bancshares during the 1st quarter worth $29,000. Geneos Wealth Management Inc. lifted its position in shares of Commerce Bancshares by 85.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after buying an additional 216 shares during the last quarter. Finally, CoreFirst Bank & Trust acquired a new stake in Commerce Bancshares in the fourth quarter valued at about $33,000. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Trading Down 1.0%

Commerce Bancshares stock opened at $65.45 on Tuesday. The stock has a 50-day simple moving average of $63.21 and a 200 day simple moving average of $62.82. The stock has a market capitalization of $8.73 billion, a P/E ratio of 15.85, a PEG ratio of 2.89 and a beta of 0.59. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.76 and a current ratio of 0.76. Commerce Bancshares has a 52 week low of $52.69 and a 52 week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Wednesday, April 16th. The financial services provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.93 by $0.05. The company had revenue of $428.05 million during the quarter, compared to the consensus estimate of $417.85 million. Commerce Bancshares had a return on equity of 16.23% and a net margin of 25.95%. Analysts expect that Commerce Bancshares will post 3.94 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 24th. Shareholders of record on Friday, June 6th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date was Friday, June 6th. Commerce Bancshares’s dividend payout ratio is currently 26.63%.

Commerce Bancshares Company Profile

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.