Brokerages Set Commerce Bancshares, Inc. (NASDAQ:CBSH) Target Price at $59.71

Commerce Bancshares, Inc. (NASDAQ:CBSH) has been assigned a consensus rating of “Hold” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $59.71.

A number of equities analysts recently issued reports on the company. Jefferies Financial Group lifted their target price on Commerce Bancshares from $60.00 to $62.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Morgan Stanley downgraded shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $66.00 to $64.00 in a research report on Monday, September 30th. StockNews.com downgraded Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Wells Fargo & Company increased their price target on shares of Commerce Bancshares from $52.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd.

Insiders Place Their Bets

In other news, EVP Robert S. Holmes sold 3,795 shares of Commerce Bancshares stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $64.75, for a total transaction of $245,726.25. Following the sale, the executive vice president now owns 50,293 shares of the company’s stock, valued at approximately $3,256,471.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Commerce Bancshares news, Director Jonathan M. Kemper sold 19,626 shares of Commerce Bancshares stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $63.66, for a total transaction of $1,249,391.16. Following the completion of the transaction, the director now directly owns 997,112 shares of the company’s stock, valued at approximately $63,476,149.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert S. Holmes sold 3,795 shares of Commerce Bancshares stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $64.75, for a total transaction of $245,726.25. Following the transaction, the executive vice president now directly owns 50,293 shares of the company’s stock, valued at $3,256,471.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,612 shares of company stock worth $3,184,609 in the last ninety days. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Commerce Bancshares

Large investors have recently bought and sold shares of the business. Clarity Asset Management Inc. bought a new position in shares of Commerce Bancshares in the fourth quarter valued at about $43,000. Bessemer Group Inc. lifted its stake in shares of Commerce Bancshares by 86.3% in the 1st quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 390 shares during the period. GAMMA Investing LLC lifted its stake in Commerce Bancshares by 156.5% in the second quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock valued at $48,000 after buying an additional 521 shares during the period. Eagle Bay Advisors LLC raised its position in shares of Commerce Bancshares by 2,864.7% in the 2nd quarter. Eagle Bay Advisors LLC now owns 1,008 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 974 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Commerce Bancshares by 93.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,670 shares of the financial services provider’s stock worth $89,000 after purchasing an additional 805 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Commerce Bancshares Price Performance

CBSH opened at $58.36 on Friday. Commerce Bancshares has a 1-year low of $40.91 and a 1-year high of $65.86. The company has a market capitalization of $7.56 billion, a price-to-earnings ratio of 16.26, a price-to-earnings-growth ratio of 9.69 and a beta of 0.74. The business has a 50 day moving average price of $61.02 and a two-hundred day moving average price of $57.68.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Thursday, July 18th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.17. Commerce Bancshares had a return on equity of 16.50% and a net margin of 23.62%. The firm had revenue of $414.90 million for the quarter, compared to analyst estimates of $406.88 million. During the same period in the previous year, the company earned $0.97 earnings per share. Commerce Bancshares’s revenue was up 4.5% compared to the same quarter last year. Equities analysts expect that Commerce Bancshares will post 3.95 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Thursday, September 5th were given a $0.27 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $1.08 annualized dividend and a dividend yield of 1.85%. Commerce Bancshares’s dividend payout ratio is 30.08%.

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.