Brokerages Set Commerce Bancshares, Inc. (NASDAQ:CBSH) Price Target at $66.75

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have been given a consensus recommendation of “Hold” by the six research firms that are presently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating. The average 1-year target price among brokers that have issued a report on the stock in the last year is $66.75.

A number of analysts have issued reports on CBSH shares. Keefe, Bruyette & Woods lifted their price objective on Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday. Wells Fargo & Company lifted their price objective on Commerce Bancshares from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. Raymond James downgraded Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Finally, Piper Sandler set a $68.50 target price on Commerce Bancshares and gave the company a “neutral” rating in a research report on Friday, October 18th.

Commerce Bancshares Trading Down 0.8 %

NASDAQ CBSH opened at $63.78 on Tuesday. The stock’s 50 day moving average is $67.36 and its 200 day moving average is $63.29. Commerce Bancshares has a 12 month low of $47.09 and a 12 month high of $72.75. The stock has a market cap of $8.18 billion, a PE ratio of 16.61, a P/E/G ratio of 3.38 and a beta of 0.79.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. The business had revenue of $421.38 million for the quarter, compared to the consensus estimate of $412.85 million. On average, analysts forecast that Commerce Bancshares will post 3.92 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend was Tuesday, December 3rd. Commerce Bancshares’s payout ratio is currently 28.13%.

Insider Activity at Commerce Bancshares

In related news, SVP Douglas D. Neff sold 888 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $72.10, for a total transaction of $64,024.80. Following the completion of the transaction, the senior vice president now owns 8,038 shares in the company, valued at $579,539.80. The trade was a 9.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kevin G. Barth sold 1,582 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $67.54, for a total value of $106,848.28. Following the transaction, the executive vice president now owns 65,409 shares of the company’s stock, valued at approximately $4,417,723.86. The trade was a 2.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,398 shares of company stock worth $2,504,665 in the last quarter. 3.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Commerce Bancshares

Several hedge funds have recently made changes to their positions in the company. Crossmark Global Holdings Inc. lifted its holdings in shares of Commerce Bancshares by 4.8% in the 4th quarter. Crossmark Global Holdings Inc. now owns 7,972 shares of the financial services provider’s stock worth $497,000 after buying an additional 367 shares during the period. Atwood & Palmer Inc. lifted its holdings in shares of Commerce Bancshares by 3.0% in the 4th quarter. Atwood & Palmer Inc. now owns 71,986 shares of the financial services provider’s stock worth $4,485,000 after buying an additional 2,119 shares during the period. Mountain Pacific Investment Advisers LLC lifted its holdings in shares of Commerce Bancshares by 3.1% in the 4th quarter. Mountain Pacific Investment Advisers LLC now owns 33,531 shares of the financial services provider’s stock worth $2,089,000 after buying an additional 1,016 shares during the period. UMB Bank n.a. lifted its holdings in shares of Commerce Bancshares by 4.0% in the 4th quarter. UMB Bank n.a. now owns 261,234 shares of the financial services provider’s stock worth $16,278,000 after buying an additional 10,000 shares during the period. Finally, Wealth Alliance Advisory Group LLC lifted its holdings in shares of Commerce Bancshares by 5.0% in the 4th quarter. Wealth Alliance Advisory Group LLC now owns 6,661 shares of the financial services provider’s stock worth $415,000 after buying an additional 317 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

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.