Commerce Bancshares (NASDAQ:CBSH) Given New $57.00 Price Target at Keefe, Bruyette & Woods

Commerce Bancshares (NASDAQ:CBSH) had its price target hoisted by Keefe, Bruyette & Woods from $56.00 to $57.00 in a research note released on Wednesday,Benzinga reports. The firm currently has a market perform rating on the financial services provider’s stock.

A number of other analysts have also weighed in on the stock. Wells Fargo & Company reduced their price objective 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. Wall Street Zen raised shares of Commerce Bancshares from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 25th. Hovde Group reduced their target price on Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Commerce Bancshares in a research note on Friday, March 27th. Finally, Morgan Stanley reduced their target price on Commerce Bancshares from $67.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Monday, March 2nd. One equities research analyst has rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $59.30.

Commerce Bancshares Stock Performance

NASDAQ:CBSH opened at $50.32 on Wednesday. The stock’s fifty day moving average is $50.07 and its 200 day moving average is $51.67. Commerce Bancshares has a fifty-two week low of $46.99 and a fifty-two week high of $63.19. The firm has a market capitalization of $7.34 billion, a PE ratio of 12.07, a PEG ratio of 3.50 and a beta of 0.61.

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, topping analysts’ consensus estimates of $0.94 by $0.02. Commerce Bancshares had a net margin of 26.37% and a return on equity of 14.78%. The company had revenue of $475.69 million for the quarter, compared to analyst estimates of $481.94 million. During the same period in the prior year, the company posted $0.98 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. Equities analysts forecast that Commerce Bancshares will post 4.1 EPS for the current year.

Commerce Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Friday, June 5th will be paid a dividend of $0.275 per share. The ex-dividend date is Friday, June 5th. This represents a $1.10 annualized dividend and a dividend yield of 2.2%. Commerce Bancshares’s dividend payout ratio (DPR) is currently 26.38%.

Insider Activity

In other news, SVP Kim L. Jakovich sold 949 shares of the firm’s 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 in the company, valued at approximately $655,524.45. This trade represents a 6.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Timothy S. Dunn purchased 2,500 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were purchased at an average price of $47.71 per share, for a total transaction of $119,275.00. Following the purchase, the director owned 5,403 shares of the company’s stock, valued at approximately $257,777.13. This trade represents a 86.12% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Commerce Bancshares

Several institutional investors have recently bought and sold shares of CBSH. Norges Bank purchased a new position in Commerce Bancshares during the fourth quarter valued at approximately $85,282,000. Champlain Investment Partners LLC purchased a new position in Commerce Bancshares during the fourth quarter valued at approximately $58,830,000. Vanguard Group Inc. increased its holdings in Commerce Bancshares by 8.1% during the fourth quarter. Vanguard Group Inc. now owns 14,690,039 shares of the financial services provider’s stock valued at $768,877,000 after buying an additional 1,098,142 shares during the period. Victory Capital Management Inc. increased its holdings in Commerce Bancshares by 1,433.7% during the fourth quarter. Victory Capital Management Inc. now owns 1,145,683 shares of the financial services provider’s stock valued at $59,965,000 after buying an additional 1,070,980 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Commerce Bancshares by 29.3% during 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 period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Commerce Bancshares

Here are the key news stories impacting Commerce Bancshares this week:

• Positive Sentiment: Commerce Bancshares said Visa accepted its tender of 411,723 Class B-2 shares as part of an exchange that will help reposition its investment portfolio. The move includes a reported Visa-related gain of about $99 million, which management plans to use to fund a sale of low-yield bonds and support higher net interest income in coming quarters. Article: Commerce Bancshares, Inc. Announces Visa Inc.’s Acceptance of Class B-2 Common Stock and Investment Securities Repositioning
• Positive Sentiment: Keefe, Bruyette & Woods raised its price target on CBSH to $57 from $56, indicating modest upside from current levels even while keeping a market-perform rating. Article: Benzinga report on price target raise
• Neutral Sentiment: Zacks Research made small estimate changes for Commerce Bancshares, nudging Q4 2027 EPS slightly higher to $1.14 while trimming Q2 2027 EPS to $1.08 and FY2028 EPS to $4.96. The firm kept a Hold rating, suggesting no major change in its longer-term view. Article: Why Commerce Bancshares (CBSH) is a Top Value Stock for the Long-Term
• Neutral Sentiment: Another Zacks note highlighted CBSH as a long-term value stock, which may support investor interest but does not appear to be a near-term catalyst by itself. Article: Why Commerce Bancshares (CBSH) is a top value stock for the long term

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.