Commerce Bancshares (NASDAQ:CBSH) Shares Gap Up – Time to Buy?

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) gapped up before the market opened on Thursday . The stock had previously closed at $61.66, but opened at $63.90. Commerce Bancshares shares last traded at $62.51, with a volume of 40,442 shares traded.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CBSH. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Friday. Morgan Stanley downgraded shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $66.00 to $64.00 in a research report on Monday, September 30th. Piper Sandler set a $68.50 price target on shares of Commerce Bancshares and gave the company a “neutral” rating in a research report on Friday. Wells Fargo & Company raised their price objective on Commerce Bancshares from $52.00 to $62.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. Finally, Jefferies Financial Group increased their price objective on shares of Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $61.79.

Commerce Bancshares Stock Up 0.3 %

The firm’s fifty day moving average price is $61.10 and its two-hundred day moving average price is $58.03. The stock has a market capitalization of $7.94 billion, a PE ratio of 17.07, a PEG ratio of 3.02 and a beta of 0.74.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.17. The business had revenue of $414.90 million for the quarter, compared to the consensus estimate of $406.88 million. Commerce Bancshares had a net margin of 23.62% and a return on equity of 16.50%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm earned $0.97 earnings per share. As a group, analysts predict that Commerce Bancshares, Inc. will post 3.92 EPS for the current year.

Commerce Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Thursday, September 5th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.76%. The ex-dividend date was Thursday, September 5th. Commerce Bancshares’s dividend payout ratio is 30.08%.

Insider Buying and Selling at Commerce Bancshares

In related news, SVP David L. Roller sold 861 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $64.30, for a total value of $55,362.30. Following the completion of the transaction, the senior vice president now directly owns 30,949 shares of the company’s stock, valued at approximately $1,990,020.70. This trade represents a 0.00 % 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. In other Commerce Bancshares news, SVP David L. Roller sold 861 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $64.30, for a total transaction of $55,362.30. Following the sale, the senior vice president now directly owns 30,949 shares of the company’s stock, valued at $1,990,020.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Patricia R. Kellerhals sold 2,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $62.23, for a total value of $124,460.00. Following the sale, the senior vice president now owns 23,381 shares in the company, valued at $1,454,999.63. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,612 shares of company stock valued at $3,184,609 in the last three months. 3.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Verde Capital Management bought a new position in Commerce Bancshares during the 3rd quarter worth about $201,000. Raymond James & Associates increased its holdings in Commerce Bancshares by 5.5% during the third quarter. Raymond James & Associates now owns 143,046 shares of the financial services provider’s stock valued at $8,497,000 after buying an additional 7,512 shares during the period. Blue Trust Inc. lifted its stake in shares of Commerce Bancshares by 12,340.0% during the 3rd quarter. Blue Trust Inc. now owns 1,244 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 1,234 shares during the last quarter. Stratos Wealth Advisors LLC purchased a new stake in shares of Commerce Bancshares during the third quarter valued at about $219,000. Finally, V Square Quantitative Management LLC purchased a new stake in Commerce Bancshares during the third quarter valued at approximately $26,000. 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.