Commerce Bancshares, Inc. (NASDAQ:CBSH) Receives $65.60 Consensus PT from Brokerages

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have been given an average rating of “Hold” by the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation. The average 1 year target price among analysts that have issued a report on the stock in the last year is $66.00.

Several research analysts have weighed in on CBSH shares. Wells Fargo & Company upped their price target on Commerce Bancshares from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 10th. Bank of America upped their price target on Commerce Bancshares from $69.00 to $71.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 24th. Wall Street Zen downgraded Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. Piper Sandler upped their price target on Commerce Bancshares from $65.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, April 17th. Finally, Morgan Stanley upped their price target on Commerce Bancshares from $58.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 17th.

Insider Activity

In other news, Director June Mcallister Fowler sold 1,618 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $60.72, for a total transaction of $98,244.96. Following the sale, the director directly owned 3,175 shares of the company’s stock, valued at $192,786. This represents a 33.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.10% of the stock is owned by company insiders.

Institutional Trading of Commerce Bancshares

Several hedge funds have recently modified their holdings of CBSH. Vanguard Group Inc. raised its holdings in Commerce Bancshares by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 13,493,741 shares of the financial services provider’s stock valued at $839,716,000 after buying an additional 268,250 shares during the period. Aristotle Capital Management LLC raised its holdings in Commerce Bancshares by 4.3% during the 4th quarter. Aristotle Capital Management LLC now owns 8,566,476 shares of the financial services provider’s stock valued at $533,777,000 after buying an additional 351,406 shares during the period. American Century Companies Inc. raised its holdings in Commerce Bancshares by 4.4% during the 1st quarter. American Century Companies Inc. now owns 3,836,113 shares of the financial services provider’s stock valued at $238,721,000 after buying an additional 161,082 shares during the period. Geode Capital Management LLC raised its holdings in Commerce Bancshares by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 2,484,463 shares of the financial services provider’s stock valued at $155,756,000 after buying an additional 87,723 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Commerce Bancshares by 2.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,321,855 shares of the financial services provider’s stock worth $144,479,000 after purchasing an additional 49,737 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Commerce Bancshares Trading Up 1.0%

Shares of NASDAQ:CBSH opened at $66.11 on Tuesday. The stock has a 50 day moving average of $63.21 and a 200 day moving average of $62.81. The company has a market cap of $8.82 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 2.89 and a beta of 0.59. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.01. Commerce Bancshares has a 12-month low of $52.69 and a 12-month high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. Commerce Bancshares had a return on equity of 16.23% and a net margin of 25.95%. The company had revenue of $428.05 million during the quarter, compared to the consensus estimate of $417.85 million. As a group, equities research analysts expect that Commerce Bancshares will post 3.94 EPS for the current year.

Commerce Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 24th. Stockholders of record on Friday, June 6th were issued a dividend of $0.275 per share. The ex-dividend date was Friday, June 6th. This represents a $1.10 annualized dividend and a dividend yield of 1.66%. Commerce Bancshares’s dividend payout ratio (DPR) is 26.63%.

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.