Commerce Bancshares, Inc. (NASDAQ:CBSH) Receives Consensus Rating of “Hold” from Brokerages

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have received an average rating of “Hold” from the eight analysts that are currently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $58.00.

Several equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Commerce Bancshares in a research report on Wednesday, June 24th. Wall Street Zen cut shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Zacks Research raised shares of Commerce Bancshares from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Wells Fargo & Company reduced their price target on shares of Commerce Bancshares from $60.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Monday, March 30th. Finally, Piper Sandler increased their price target on shares of Commerce Bancshares from $58.50 to $59.00 and gave the stock a “neutral” rating in a research report on Friday.

Hedge Funds Weigh In On Commerce Bancshares

Large investors have recently modified their holdings of the stock. Norges Bank bought a new position in Commerce Bancshares in the fourth quarter worth about $85,282,000. Champlain Investment Partners LLC bought a new position in Commerce Bancshares in the fourth quarter worth about $58,830,000. Vanguard Group Inc. lifted its holdings in Commerce Bancshares by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 14,690,039 shares of the financial services provider’s stock worth $768,877,000 after acquiring an additional 1,098,142 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Commerce Bancshares by 1,433.7% in the fourth quarter. Victory Capital Management Inc. now owns 1,145,683 shares of the financial services provider’s stock worth $59,965,000 after acquiring an additional 1,070,980 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Commerce Bancshares by 29.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,943,247 shares of the financial services provider’s stock worth $193,999,000 after acquiring an additional 894,183 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Price Performance

NASDAQ:CBSH opened at $58.09 on Tuesday. The firm has a 50-day moving average of $52.91 and a two-hundred day moving average of $52.29. The stock has a market cap of $8.47 billion, a P/E ratio of 13.93, a PEG ratio of 3.91 and a beta of 0.60. Commerce Bancshares has a 1-year low of $46.99 and a 1-year high of $63.19.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.02. The company had revenue of $475.69 million during the quarter, compared to analysts’ expectations of $481.94 million. Commerce Bancshares had a net margin of 26.37% and a return on equity of 14.78%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.98 EPS. As a group, equities analysts expect that Commerce Bancshares will post 4.14 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Friday, June 5th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.10 annualized dividend and a dividend yield of 1.9%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 26.38%.

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.