Commerce Bancshares, Inc. (NASDAQ:CBSH) Given Consensus Recommendation of “Hold” by Analysts

Commerce Bancshares, Inc. (NASDAQ:CBSH) has been assigned a consensus rating of “Hold” from the six analysts that are covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $67.83.

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

Insider Transactions at Commerce Bancshares

In related news, VP David L. Orf sold 1,036 shares of Commerce Bancshares stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $68.24, for a total value of $70,696.64. Following the transaction, the vice president now directly owns 22,175 shares of the company’s stock, valued at $1,513,222. The trade was a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Patricia R. Kellerhals sold 1,000 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $67.69, for a total transaction of $67,690.00. Following the sale, the senior vice president now directly owns 21,265 shares of the company’s stock, valued at $1,439,427.85. The trade was a 4.49 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 81,016 shares of company stock worth $5,422,811. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Smith Shellnut Wilson LLC ADV increased its stake in shares of Commerce Bancshares by 5.0% during the fourth quarter. Smith Shellnut Wilson LLC ADV now owns 6,254 shares of the financial services provider’s stock valued at $390,000 after buying an additional 295 shares during the period. Jefferies Financial Group Inc. boosted its holdings in Commerce Bancshares by 23.8% in the fourth quarter. Jefferies Financial Group Inc. now owns 48,407 shares of the financial services provider’s stock valued at $3,016,000 after acquiring an additional 9,321 shares in the last quarter. United Advisor Group LLC increased its position in Commerce Bancshares by 1.8% during the 4th quarter. United Advisor Group LLC now owns 31,122 shares of the financial services provider’s stock valued at $1,939,000 after purchasing an additional 537 shares during the period. Forum Financial Management LP bought a new position in Commerce Bancshares in the 4th quarter worth $283,000. Finally, WCG Wealth Advisors LLC lifted its position in shares of Commerce Bancshares by 4.4% in the 4th quarter. WCG Wealth Advisors LLC now owns 19,600 shares of the financial services provider’s stock worth $1,221,000 after purchasing an additional 835 shares during the period. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Trading Down 2.1 %

CBSH opened at $59.57 on Wednesday. The company has a 50 day moving average of $64.63 and a 200 day moving average of $64.56. Commerce Bancshares has a 12 month low of $47.89 and a 12 month high of $72.75. The company has a market cap of $7.98 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 2.13 and a beta of 0.78.

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

Commerce Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.275 per share. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.27. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Friday, March 7th. Commerce Bancshares’s dividend payout ratio (DPR) is 27.43%.

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.