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

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have been given an average rating of “Hold” by the six brokerages that are currently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $55.29.

Several analysts have issued reports on the stock. StockNews.com upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, April 17th. Keefe, Bruyette & Woods lifted their target price on Commerce Bancshares from $58.00 to $60.00 and gave the stock a “market perform” rating in a research report on Friday, May 10th. Piper Sandler upped their price target on Commerce Bancshares from $53.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. Finally, Raymond James raised Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 target price for the company in a research report on Wednesday, April 17th.

Commerce Bancshares Stock Up 0.7 %

Shares of CBSH stock opened at $54.71 on Friday. The stock has a 50-day simple moving average of $55.06 and a 200 day simple moving average of $53.44. Commerce Bancshares has a fifty-two week low of $40.91 and a fifty-two week high of $57.48. The stock has a market capitalization of $7.09 billion, a P/E ratio of 15.26, a P/E/G ratio of 1.75 and a beta of 0.76.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.06. The firm had revenue of $397.80 million for the quarter, compared to the consensus estimate of $389.49 million. Commerce Bancshares had a return on equity of 16.78% and a net margin of 23.33%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.90 EPS. On average, sell-side analysts anticipate that Commerce Bancshares will post 3.57 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Wednesday, June 5th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend was Wednesday, June 5th. Commerce Bancshares’s dividend payout ratio is 30.12%.

Insider Buying and Selling

In other Commerce Bancshares news, CEO John W. Kemper sold 26,581 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $56.77, for a total transaction of $1,509,003.37. Following the transaction, the chief executive officer now directly owns 198,387 shares in the company, valued at approximately $11,262,429.99. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CBSH. Kestra Advisory Services LLC boosted its holdings in Commerce Bancshares by 44.0% during the third quarter. Kestra Advisory Services LLC now owns 11,148 shares of the financial services provider’s stock worth $535,000 after buying an additional 3,409 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Commerce Bancshares by 18.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 185,296 shares of the financial services provider’s stock worth $8,890,000 after acquiring an additional 28,682 shares during the last quarter. Stifel Financial Corp grew its holdings in Commerce Bancshares by 23.0% during the third quarter. Stifel Financial Corp now owns 110,881 shares of the financial services provider’s stock valued at $5,322,000 after purchasing an additional 20,737 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Commerce Bancshares by 382.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 53,192 shares of the financial services provider’s stock valued at $2,552,000 after purchasing an additional 42,167 shares during the period. Finally, Natixis Advisors L.P. increased its stake in Commerce Bancshares by 8.1% in the third quarter. Natixis Advisors L.P. now owns 148,512 shares of the financial services provider’s stock valued at $7,126,000 after purchasing an additional 11,107 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

About Commerce Bancshares

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.