Commerce Bancshares, Inc. (NASDAQ:CBSH) Receives $63.20 Average Target Price from Brokerages

Commerce Bancshares, Inc. (NASDAQ:CBSH) has received a consensus rating of “Hold” from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $63.20.

CBSH has been the topic of several research analyst reports. Wall Street Zen cut Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday. Keefe, Bruyette & Woods lowered their price target on Commerce Bancshares from $74.00 to $70.00 and set a “market perform” rating on the stock in a report on Thursday, April 17th. Piper Sandler increased their price target on Commerce Bancshares from $65.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, April 17th. Morgan Stanley raised Commerce Bancshares from an “underweight” rating to an “equal weight” rating and lowered their price target for the company from $66.00 to $58.00 in a report on Monday, April 7th. Finally, Wells Fargo & Company reduced their price objective on Commerce Bancshares from $70.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th.

Insider Transactions at Commerce Bancshares

In other Commerce Bancshares news, Director June Mcallister Fowler sold 1,618 shares of the firm’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $60.72, for a total transaction of $98,244.96. Following the sale, the director now directly owns 3,175 shares of the company’s stock, valued at $192,786. This trade represents a 33.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Commerce Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Commerce Bancshares in the fourth quarter worth about $86,327,000. American Century Companies Inc. increased its holdings in shares of Commerce Bancshares by 25.5% in the fourth quarter. American Century Companies Inc. now owns 3,675,031 shares of the financial services provider’s stock worth $228,991,000 after purchasing an additional 745,661 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Commerce Bancshares by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 13,225,491 shares of the financial services provider’s stock worth $824,080,000 after purchasing an additional 642,401 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Commerce Bancshares by 136.0% in the first quarter. Invesco Ltd. now owns 848,442 shares of the financial services provider’s stock worth $52,799,000 after purchasing an additional 488,960 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of Commerce Bancshares in the first quarter worth about $21,995,000. 70.26% of the stock is owned by institutional investors.

Commerce Bancshares Trading Down 0.7%

CBSH stock opened at $62.76 on Monday. The stock has a market capitalization of $8.37 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 2.13 and a beta of 0.60. Commerce Bancshares has a 12-month low of $49.97 and a 12-month high of $72.75. The stock’s 50 day simple moving average is $61.21 and its 200 day simple moving average is $64.45.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.05. The firm had revenue of $428.05 million for the quarter, compared to analysts’ expectations of $417.85 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. On average, research analysts predict that Commerce Bancshares will post 3.94 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Friday, June 6th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.10 annualized dividend and a dividend yield of 1.75%. Commerce Bancshares’s dividend payout ratio (DPR) is 26.63%.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc operates as the bank holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses in the United States. It operates through three segments: Consumer, Commercial, and Wealth.