Commerce Bancshares, Inc. (NASDAQ:CBSH) Receives $61.51 Average Price Target from Brokerages

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have been given a consensus rating of “Hold” by the nine analysts that are presently covering the firm, Marketbeat reports. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $61.5102.

Several brokerages have recently issued reports on CBSH. Weiss Ratings restated a “hold (c)” rating on shares of Commerce Bancshares in a research report on Monday, December 29th. Zacks Research upgraded Commerce Bancshares from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Morgan Stanley lowered their target price on shares of Commerce Bancshares from $67.00 to $65.00 and set an “equal weight” rating for the company in a report on Monday, March 2nd. Piper Sandler set a $62.00 target price on Commerce Bancshares and gave the company a “neutral” rating in a research report on Monday, January 26th. Finally, TD Cowen decreased their price target on Commerce Bancshares from $61.00 to $55.00 and set a “hold” rating for the company in a research note on Wednesday, January 7th.

Insider Activity

In other news, SVP Kim L. Jakovich sold 949 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $51.45, for a total transaction of $48,826.05. Following the transaction, the senior vice president owned 12,741 shares of the company’s stock, valued at approximately $655,524.45. This represents a 6.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Derrick Brooks sold 1,044 shares of the company’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $54.40, for a total transaction of $56,793.60. Following the completion of the sale, the senior vice president directly owned 14,585 shares of the company’s stock, valued at approximately $793,424. This trade represents a 6.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 29,477 shares of company stock valued at $1,586,655. Insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Commerce Bancshares

Several large investors have recently modified their holdings of the business. Daytona Street Capital LLC bought a new position in shares of Commerce Bancshares during the fourth quarter valued at approximately $25,000. Danske Bank A S bought a new position in Commerce Bancshares in the third quarter worth approximately $25,000. Geneos Wealth Management Inc. raised its stake 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 buying an additional 216 shares in the last quarter. Quent Capital LLC purchased a new stake in Commerce Bancshares during the third quarter worth $31,000. Finally, CoreFirst Bank & Trust purchased a new stake in Commerce Bancshares during the second quarter worth $33,000. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Stock Up 0.2%

Commerce Bancshares stock opened at $47.68 on Friday. Commerce Bancshares has a 52-week low of $46.99 and a 52-week high of $63.19. The firm’s fifty day moving average is $52.26 and its 200 day moving average is $52.99. The company has a market cap of $7.00 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 2.39 and a beta of 0.61.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.99 by $0.02. Commerce Bancshares had a net margin of 26.51% and a return on equity of 15.34%. The business had revenue of $449.36 million during the quarter, compared to analyst estimates of $442.47 million. During the same quarter last year, the business earned $1.01 earnings per share. Commerce Bancshares’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts anticipate that Commerce Bancshares will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Friday, March 6th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, March 6th. Commerce Bancshares’s payout ratio is 26.25%.

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.