Commerce Bancshares, Inc. (NASDAQ:CBSH) Receives Consensus Rating of “Hold” from Brokerages

Commerce Bancshares, Inc. (NASDAQ:CBSH) has earned an average rating of “Hold” from the seven research firms that are covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $61.79.

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

Commerce Bancshares Stock Performance

Shares of NASDAQ:CBSH opened at $73.70 on Monday. The company has a market capitalization of $9.45 billion, a P/E ratio of 19.19, a price-to-earnings-growth ratio of 3.98 and a beta of 0.73. The company’s 50-day moving average is $63.52 and its 200 day moving average is $60.36. Commerce Bancshares has a fifty-two week low of $47.19 and a fifty-two week high of $73.82.

Commerce Bancshares (NASDAQ:CBSH) last released 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 net margin of 24.15% and a return on equity of 15.93%. The firm had revenue of $421.38 million during the quarter, compared to the consensus estimate of $412.85 million. As a group, research analysts predict that Commerce Bancshares will post 4.02 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Tuesday, December 3rd. Commerce Bancshares’s dividend payout ratio (DPR) is 28.13%.

Insider Transactions at Commerce Bancshares

In other Commerce Bancshares news, SVP David L. Roller sold 890 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $72.27, for a total value of $64,320.30. Following the completion of the sale, the senior vice president now owns 30,949 shares in the company, valued at approximately $2,236,684.23. This trade represents a 2.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman David W. Kemper sold 30,000 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $61.78, for a total value of $1,853,400.00. Following the completion of the sale, the chairman now owns 1,151,994 shares in the company, valued at approximately $71,170,189.32. This represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,109 shares of company stock worth $2,191,123. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its position in shares of Commerce Bancshares by 7.4% during the second quarter. American Century Companies Inc. now owns 3,509,796 shares of the financial services provider’s stock valued at $195,776,000 after buying an additional 240,938 shares during the period. Geode Capital Management LLC grew its holdings in shares of Commerce Bancshares by 7.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,396,740 shares of the financial services provider’s stock worth $142,951,000 after acquiring an additional 163,782 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Commerce Bancshares by 19.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,069,924 shares of the financial services provider’s stock valued at $115,453,000 after purchasing an additional 342,793 shares during the period. Boston Trust Walden Corp boosted its position in shares of Commerce Bancshares by 15.4% during the second quarter. Boston Trust Walden Corp now owns 1,260,999 shares of the financial services provider’s stock valued at $70,339,000 after purchasing an additional 168,550 shares in the last quarter. Finally, NFJ Investment Group LLC grew its stake in Commerce Bancshares by 17.7% in the third quarter. NFJ Investment Group LLC now owns 707,168 shares of the financial services provider’s stock worth $42,006,000 after purchasing an additional 106,316 shares during the period. 70.26% of the stock is currently owned by institutional investors.

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.