Commerce Bancshares, Inc. (NASDAQ:CBSH) Receives $65.07 Average PT from Analysts

Commerce Bancshares, Inc. (NASDAQ:CBSH) has earned an average rating of “Hold” from the seven analysts that are presently covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $65.07.

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

Insider Activity

In other Commerce Bancshares news, Chairman David W. Kemper sold 30,000 shares of Commerce Bancshares stock in a transaction 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 directly owns 1,151,994 shares in the company, valued at approximately $71,170,189.32. The trade was a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP David L. Roller sold 890 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $72.27, for a total value of $64,320.30. Following the completion of the transaction, the senior vice president now directly owns 30,949 shares in the company, valued at approximately $2,236,684.23. The trade was a 2.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,398 shares of company stock worth $2,504,665. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Commerce Bancshares

Institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new stake in shares of Commerce Bancshares in the 3rd quarter worth approximately $566,000. Centiva Capital LP purchased a new stake in Commerce Bancshares during the third quarter worth $581,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Commerce Bancshares in the second quarter valued at $436,000. Barclays PLC increased its position in shares of Commerce Bancshares by 19.4% in the third quarter. Barclays PLC now owns 106,934 shares of the financial services provider’s stock valued at $6,353,000 after buying an additional 17,400 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new position in shares of Commerce Bancshares during the 2nd quarter worth $522,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Commerce Bancshares Stock Up 0.2 %

Shares of NASDAQ CBSH opened at $63.03 on Friday. Commerce Bancshares has a 52-week low of $47.09 and a 52-week high of $72.75. The company’s 50-day simple moving average is $67.24 and its 200-day simple moving average is $62.18. The firm has a market cap of $8.08 billion, a price-to-earnings ratio of 16.41, a price-to-earnings-growth ratio of 2.92 and a beta of 0.77.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $1.00 by $0.07. The firm had revenue of $421.38 million during the quarter, compared to analysts’ expectations of $412.85 million. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. Equities research analysts anticipate that Commerce Bancshares will post 3.95 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. Stockholders of record on Tuesday, December 3rd were issued a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.71%. Commerce Bancshares’s payout ratio is currently 28.13%.

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.