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

Commerce Bancshares, Inc. (NASDAQ:CBSH) has been assigned a consensus recommendation of “Hold” from the ten ratings firms that are covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $64.29.

Several brokerages have issued reports on CBSH. Weiss Ratings lowered Commerce Bancshares from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 2nd. Wall Street Zen lowered Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, October 3rd. Raymond James Financial raised Commerce Bancshares to a “hold” rating in a report on Thursday, August 27th. Keefe, Bruyette & Woods boosted their target price on Commerce Bancshares from $60.00 to $62.00 and gave the stock a “market perform” rating in a research report on Monday, July 20th. Finally, Morgan Stanley upped their target price on Commerce Bancshares from $76.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, September 28th.

Insider Buying and Selling

In other news, SVP Douglas Neff sold 666 shares of the company’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $58.15, for a total value of $38,727.90. Following the completion of the sale, the senior vice president owned 11,746 shares of the company’s stock, valued at approximately $683,029.90. This represents a 5.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert Holmes sold 5,000 shares of the stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $60.20, for a total transaction of $301,000.00. Following the transaction, the executive vice president directly owned 55,962 shares in the company, valued at approximately $3,368,912.40. This represents a 8.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 32,950 shares of company stock worth $1,963,777 in the last ninety days. 1.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Keating Financial Advisory Services Inc. bought a new stake in shares of Commerce Bancshares in the 2nd quarter valued at about $29,000. Versant Capital Management Inc grew its position in Commerce Bancshares by 146.6% during the 3rd quarter. Versant Capital Management Inc now owns 508 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 302 shares during the last quarter. Root Financial Partners LLC grew its position in Commerce Bancshares by 104.9% during the 1st quarter. Root Financial Partners LLC now owns 623 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 319 shares during the last quarter. Rothschild Investment LLC increased its stake in Commerce Bancshares by 75.3% in the 4th quarter. Rothschild Investment LLC now owns 1,031 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 443 shares during the period. Finally, Continuum Advisory LLC purchased a new position in Commerce Bancshares in the 2nd quarter worth approximately $64,000. 70.26% of the stock is owned by institutional investors.

Commerce Bancshares Stock Performance

Commerce Bancshares stock opened at $53.91 on Thursday. Commerce Bancshares has a fifty-two week low of $46.99 and a fifty-two week high of $60.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market cap of $7.73 billion, a P/E ratio of 13.05, a price-to-earnings-growth ratio of 1.96 and a beta of 0.60. The firm’s fifty day moving average price is $57.81 and its 200-day moving average price is $55.05.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, July 16th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.06. Commerce Bancshares had a net margin of 26.07% and a return on equity of 14.31%. The company had revenue of $498.91 million during the quarter, compared to analyst estimates of $492.22 million. During the same period in the previous year, the business earned $1.14 earnings per share. On average, equities research analysts expect that Commerce Bancshares will post 4.22 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Friday, September 4th were issued a $0.2750 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Friday, September 4th. Commerce Bancshares’s payout ratio is presently 26.63%.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc is a financial holding company headquartered in Kansas City, Missouri. Its principal subsidiary, Commerce Bank, provides banking and financial services to businesses, institutions and individuals through a network of branches and digital channels.

The company’s offerings include commercial and consumer lending, deposit accounts, treasury and payment services, credit and debit cards, investment services, brokerage, trust administration and wealth management. Commerce also provides specialized services for businesses, including cash management, merchant processing and other payment solutions.

Commerce Bank traces its history to 1865 and primarily serves customers in Missouri, Kansas, Illinois, Oklahoma and Colorado.