Analysts Set Commerce Bancshares, Inc. (NASDAQ:CBSH) Price Target at $67.83

Commerce Bancshares, Inc. (NASDAQ:CBSH) has received an average rating of “Hold” from the six brokerages that are presently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating. The average 12-month price target among brokers that have issued a report on the stock in the last year is $67.83.

A number of analysts have recently commented on the company. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Raymond James cut shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Wells Fargo & Company upped their price target on shares of Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods lifted their price objective on shares of Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler increased their target price on shares of Commerce Bancshares from $69.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd.

Insiders Place Their Bets

In related news, SVP Patricia R. Kellerhals sold 500 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $68.55, for a total value of $34,275.00. Following the completion of the sale, the senior vice president now directly owns 22,265 shares of the company’s stock, valued at approximately $1,526,265.75. This represents a 2.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kevin G. Barth sold 24,870 shares of Commerce Bancshares stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $66.06, for a total value of $1,642,912.20. Following the transaction, the executive vice president now directly owns 45,511 shares in the company, valued at approximately $3,006,456.66. This trade represents a 35.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 81,516 shares of company stock worth $5,457,086 over the last ninety days. 3.20% of the stock is currently owned by company insiders.

Institutional Trading of Commerce Bancshares

Hedge funds have recently made changes to their positions in the stock. Atria Wealth Solutions Inc. increased its stake in Commerce Bancshares by 1.5% in the 4th quarter. Atria Wealth Solutions Inc. now owns 11,062 shares of the financial services provider’s stock valued at $689,000 after buying an additional 166 shares during the period. Canopy Partners LLC increased its stake in shares of Commerce Bancshares by 4.9% in the fourth quarter. Canopy Partners LLC now owns 3,609 shares of the financial services provider’s stock worth $225,000 after acquiring an additional 168 shares during the last quarter. Apriem Advisors raised its holdings in shares of Commerce Bancshares by 5.0% during the fourth quarter. Apriem Advisors now owns 3,827 shares of the financial services provider’s stock worth $238,000 after acquiring an additional 182 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in shares of Commerce Bancshares by 4.9% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 3,908 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 183 shares in the last quarter. Finally, Verde Capital Management raised its holdings in shares of Commerce Bancshares by 5.4% during the fourth quarter. Verde Capital Management now owns 3,573 shares of the financial services provider’s stock worth $223,000 after acquiring an additional 183 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Commerce Bancshares Trading Up 0.4 %

Shares of NASDAQ CBSH opened at $62.22 on Wednesday. The stock has a 50 day simple moving average of $64.73 and a 200-day simple moving average of $64.56. The company has a market cap of $8.33 billion, a PE ratio of 15.52, a P/E/G ratio of 2.13 and a beta of 0.78. Commerce Bancshares has a 12-month low of $47.89 and a 12-month high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.06. The business had revenue of $422.10 million during the quarter, compared to the consensus estimate of $417.48 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The business’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.84 earnings per share. Sell-side analysts forecast that Commerce Bancshares will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.275 per share. The ex-dividend date is Friday, March 7th. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.27. This represents a $1.10 dividend on an annualized basis and a yield of 1.77%. Commerce Bancshares’s dividend payout ratio is currently 27.43%.

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.