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

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have been given an average recommendation of “Hold” by the ten brokerages that are presently covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $64.8571.

Several equities analysts have weighed in on CBSH shares. Weiss Ratings upgraded Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 21st. Wall Street Zen upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, July 28th. Morgan Stanley raised shares of Commerce Bancshares from a “positive” rating to an “overweight” rating and raised their price target for the company from $65.00 to $76.00 in a research report on Tuesday. Raymond James Financial raised shares of Commerce Bancshares to a “hold” rating in a research report on Thursday, August 27th. Finally, Piper Sandler restated a “neutral” rating and set a $66.00 price target (up from $59.00) on shares of Commerce Bancshares in a report on Friday, July 17th.

Insider Transactions at Commerce Bancshares

In related news, EVP Robert S. Holmes sold 5,000 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $60.20, for a total transaction of $301,000.00. Following the completion of the sale, the executive vice president directly owned 55,962 shares of the company’s stock, valued at approximately $3,368,912.40. This trade represents a 8.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Charles G. Kim sold 19,771 shares of Commerce Bancshares stock in a transaction on Monday, July 27th. The stock was sold at an average price of $59.18, for a total value of $1,170,047.78. Following the sale, the chief financial officer owned 119,410 shares in the company, valued at $7,066,683.80. This trade represents a 14.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 33,150 shares of company stock worth $1,974,783. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Commerce Bancshares

Several large investors have recently made changes to their positions in the business. Danske Bank A S bought a new position in Commerce Bancshares during the third quarter valued at about $25,000. Geneos Wealth Management Inc. raised its position in Commerce Bancshares by 85.4% in the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 216 shares during the period. Keating Financial Advisory Services Inc. bought a new stake in Commerce Bancshares in the second quarter worth about $29,000. Root Financial Partners LLC boosted its stake in Commerce Bancshares by 104.9% in the first quarter. Root Financial Partners LLC now owns 623 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 319 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in Commerce Bancshares in the second quarter valued at about $59,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Commerce Bancshares Stock Down 0.1%

CBSH stock opened at $58.25 on Friday. The firm has a market capitalization of $8.35 billion, a PE ratio of 14.10, a P/E/G ratio of 2.07 and a beta of 0.58. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.01. Commerce Bancshares has a twelve month low of $46.99 and a twelve month high of $60.92. The stock’s 50 day moving average is $58.79 and its 200-day moving average is $54.27.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.06. The business had revenue of $498.91 million during the quarter, compared to the consensus estimate of $492.22 million. Commerce Bancshares had a return on equity of 14.31% and a net margin of 26.07%.During the same quarter in the prior year, the company posted $1.14 earnings per share. Sell-side analysts expect that Commerce Bancshares will post 4.25 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Friday, September 4th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.10 annualized dividend and a dividend yield of 1.9%. Commerce Bancshares’s dividend payout ratio (DPR) is currently 26.63%.

About Commerce Bancshares

Commerce Bancshares, Inc is a financial services holding company headquartered in Kansas City, Missouri. Through its principal subsidiary, Commerce Bank, the company provides banking and financial services to individuals, businesses, institutions and government entities.

Commerce Bank offers deposit accounts, consumer and commercial lending, treasury and payment services, wealth management, trust services, investment banking and brokerage services. Its commercial banking activities include financing, cash-management solutions and other services designed for businesses and institutional clients.

Founded in 1865, Commerce Bancshares primarily serves customers through a regional network centered in Missouri and extending into Kansas, Illinois, Oklahoma and Colorado.