Brokerages Set Commerce Bancshares, Inc. (NASDAQ:CBSH) PT at $61.79

Commerce Bancshares, Inc. (NASDAQ:CBSH) has been given an average rating of “Hold” by the seven brokerages that are covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $61.79.

A number of brokerages have weighed in on CBSH. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Piper Sandler set a $68.50 target price on shares of Commerce Bancshares and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Morgan Stanley lowered shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $66.00 to $64.00 in a research report on Monday, September 30th.

Insider Transactions at Commerce Bancshares

In related news, SVP David L. Roller sold 890 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $72.27, for a total transaction of $64,320.30. Following the transaction, the senior vice president now directly owns 30,949 shares of the company’s stock, valued at approximately $2,236,684.23. The trade was a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Douglas D. Neff sold 888 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $72.10, for a total value of $64,024.80. Following the sale, the senior vice president now owns 8,038 shares of the company’s stock, valued at $579,539.80. The trade was a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,109 shares of company stock valued at $2,191,123 over the last ninety days. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CBSH. SG Americas Securities LLC acquired a new position in Commerce Bancshares in the 2nd quarter worth about $1,226,000. Marshall Financial Group LLC bought a new position in Commerce Bancshares during the second quarter valued at approximately $1,006,000. Tidal Investments LLC lifted its stake in Commerce Bancshares by 181.3% in the first quarter. Tidal Investments LLC now owns 17,905 shares of the financial services provider’s stock valued at $953,000 after acquiring an additional 11,540 shares during the last quarter. Cetera Investment Advisers grew its position in Commerce Bancshares by 138.3% in the first quarter. Cetera Investment Advisers now owns 31,872 shares of the financial services provider’s stock worth $1,696,000 after acquiring an additional 18,496 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Commerce Bancshares during the 2nd quarter worth $436,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Commerce Bancshares Trading Down 0.1 %

Commerce Bancshares stock opened at $73.88 on Monday. Commerce Bancshares has a 52 week low of $47.19 and a 52 week high of $76.39. The stock has a market cap of $9.47 billion, a P/E ratio of 19.35, a price-to-earnings-growth ratio of 4.02 and a beta of 0.73. The stock has a 50 day moving average of $64.00 and a 200-day moving average of $60.60.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.07. Commerce Bancshares had a return on equity of 15.93% and a net margin of 24.15%. The business had revenue of $421.38 million during the quarter, compared to analyst estimates of $412.85 million. As a group, equities analysts predict that Commerce Bancshares will post 4.02 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Tuesday, December 3rd. Commerce Bancshares’s payout ratio is 28.13%.

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.