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

Commerce Bancshares, Inc. (NASDAQ:CBSH) has received an average recommendation of “Hold” from the nine analysts that are covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $62.4286.

Several research analysts have recently weighed in on the company. Wells Fargo & Company upped their target price on Commerce Bancshares from $53.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Monday, July 6th. Wall Street Zen lowered shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Monday. Weiss Ratings raised shares of Commerce Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 8th. Stephens set a $64.00 price target on shares of Commerce Bancshares and gave the stock an “equal weight” rating in a research report on Friday, July 17th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $66.00 price target (up from $59.00) on shares of Commerce Bancshares in a research note on Friday, July 17th.

Commerce Bancshares Price Performance

Shares of Commerce Bancshares stock opened at $58.70 on Friday. The firm has a market cap of $8.56 billion, a PE ratio of 14.21, a P/E/G ratio of 2.09 and a beta of 0.58. Commerce Bancshares has a twelve month low of $46.99 and a twelve month high of $61.54. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $55.30 and a 200 day moving average price of $52.94.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.06. Commerce Bancshares had a return on equity of 14.31% and a net margin of 26.07%.The company had revenue of $498.91 million for the quarter, compared to the consensus estimate of $492.22 million. During the same quarter in the prior year, the business posted $1.14 earnings per share. Sell-side analysts predict that Commerce Bancshares will post 4.22 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Friday, June 5th were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.9%. Commerce Bancshares’s dividend payout ratio is presently 26.63%.

Institutional Trading of Commerce Bancshares

A number of institutional investors have recently made changes to their positions in CBSH. Vanguard Group Inc. lifted its holdings in Commerce Bancshares by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 14,690,039 shares of the financial services provider’s stock valued at $768,877,000 after purchasing an additional 1,098,142 shares in the last quarter. State Street Corp grew its holdings in shares of Commerce Bancshares by 8.4% during the fourth quarter. State Street Corp now owns 7,318,898 shares of the financial services provider’s stock worth $383,071,000 after buying an additional 566,853 shares in the last quarter. Commerce Bank grew its holdings in shares of Commerce Bancshares by 7.0% during the fourth quarter. Commerce Bank now owns 5,660,823 shares of the financial services provider’s stock worth $296,287,000 after buying an additional 369,636 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of 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 valued at $193,999,000 after buying an additional 894,183 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Commerce Bancshares by 6.7% in the fourth 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 during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Commerce Bancshares Company Profile

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.