Commerce Bancshares, Inc. (NASDAQ:CBSH) Receives $61.79 Consensus Price Target from Analysts

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have earned a consensus recommendation of “Hold” from the seven brokerages that are covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $61.79.

CBSH has been the topic of a number of research analyst reports. Morgan Stanley lowered Commerce Bancshares from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $66.00 to $64.00 in a research note on Monday, September 30th. Piper Sandler set a $68.50 target price on shares of Commerce Bancshares and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th.

Commerce Bancshares Trading Down 0.1 %

Commerce Bancshares stock opened at $73.88 on Monday. The firm has a 50 day simple moving average of $64.00 and a 200 day simple moving average of $60.60. Commerce Bancshares has a 1-year low of $47.19 and a 1-year high of $76.39. The firm has a market capitalization of $9.47 billion, a price-to-earnings ratio of 19.35, a P/E/G ratio of 4.02 and a beta of 0.73.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, October 17th. The financial services provider reported $1.07 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $412.85 million. On average, equities research analysts forecast that Commerce Bancshares will post 4.02 EPS for the current year.

Commerce Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 1.46%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 28.13%.

Insider Activity at Commerce Bancshares

In other news, Chairman David W. Kemper sold 30,000 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $61.78, for a total value of $1,853,400.00. Following the transaction, the chairman now owns 1,151,994 shares of the company’s stock, valued at $71,170,189.32. The trade was a 2.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John K. Handy sold 1,331 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $63.80, for a total value of $84,917.80. Following the transaction, the executive vice president now directly owns 41,548 shares in the company, valued at approximately $2,650,762.40. The trade was a 3.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,109 shares of company stock worth $2,191,123. Insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Commerce Bancshares

Institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. purchased a new position in shares of Commerce Bancshares in the third quarter valued at approximately $2,861,000. Tidal Investments LLC grew its stake in shares of Commerce Bancshares by 13.5% in the 3rd quarter. Tidal Investments LLC now owns 39,040 shares of the financial services provider’s stock valued at $2,319,000 after buying an additional 4,654 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Commerce Bancshares in the third quarter worth approximately $475,000. Sanctuary Advisors LLC lifted its stake in Commerce Bancshares by 35.5% during the third quarter. Sanctuary Advisors LLC now owns 42,924 shares of the financial services provider’s stock worth $2,550,000 after purchasing an additional 11,247 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Commerce Bancshares in the third quarter valued at about $566,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

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.