Commerce Bancshares (NASDAQ:CBSH) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Commerce Bancshares (NASDAQ:CBSH) from a sell rating to a hold rating in a research report report published on Friday morning.

Several other analysts have also recently issued reports on CBSH. Morgan Stanley cut shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $66.00 to $64.00 in a research note on Monday, September 30th. Jefferies Financial Group upped their price target on Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Piper Sandler set a $68.50 price objective on Commerce Bancshares and gave the stock a “neutral” rating in a research report on Friday. Finally, Wells Fargo & Company raised their target price on Commerce Bancshares from $52.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $61.79.

Commerce Bancshares Stock Performance

Shares of CBSH opened at $61.28 on Friday. The stock has a 50 day moving average price of $61.10 and a 200 day moving average price of $58.07. Commerce Bancshares has a one year low of $40.91 and a one year high of $65.86. The stock has a market capitalization of $7.90 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 3.07 and a beta of 0.74.

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. The business had revenue of $414.90 million during the quarter, compared to analyst estimates of $406.88 million. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.97 earnings per share. On average, analysts predict that Commerce Bancshares will post 3.95 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Thursday, September 5th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date was Thursday, September 5th. Commerce Bancshares’s dividend payout ratio is presently 28.13%.

Insider Buying and Selling

In other Commerce Bancshares news, SVP David L. Roller sold 861 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $64.30, for a total transaction of $55,362.30. Following the completion of the transaction, the senior vice president now owns 30,949 shares of the company’s stock, valued at $1,990,020.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Robert S. Holmes sold 3,795 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $64.75, for a total value of $245,726.25. Following the sale, the executive vice president now owns 50,293 shares in the company, valued at approximately $3,256,471.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP David L. Roller sold 861 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $64.30, for a total value of $55,362.30. Following the transaction, the senior vice president now owns 30,949 shares of the company’s stock, valued at $1,990,020.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,986 shares of company stock valued at $1,935,218. 3.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Commerce Bancshares by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 12,631,645 shares of the financial services provider’s stock valued at $672,004,000 after buying an additional 259,127 shares during the period. American Century Companies Inc. boosted its holdings in Commerce Bancshares by 7.4% in 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 purchasing an additional 240,938 shares during the period. Dimensional Fund Advisors LP grew its stake in Commerce Bancshares by 19.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,069,924 shares of the financial services provider’s stock worth $115,453,000 after purchasing an additional 342,793 shares in the last quarter. Boston Trust Walden Corp increased its holdings in Commerce Bancshares by 15.4% during the 2nd quarter. Boston Trust Walden Corp now owns 1,260,999 shares of the financial services provider’s stock worth $70,339,000 after purchasing an additional 168,550 shares during the period. Finally, Sei Investments Co. raised its position in Commerce Bancshares by 0.5% in the 2nd quarter. Sei Investments Co. now owns 624,715 shares of the financial services provider’s stock valued at $34,846,000 after purchasing an additional 3,391 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

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.