Commerce Bancshares, Inc. (NASDAQ:CBSH) Receives $61.79 Consensus Target Price from Brokerages

Commerce Bancshares, Inc. (NASDAQ:CBSH) has been assigned an average recommendation of “Hold” from the seven brokerages that are currently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $61.79.

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

Insider Activity

In other news, EVP John K. Handy sold 1,331 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $63.80, for a total transaction of $84,917.80. Following the completion of the sale, the executive vice president now directly owns 41,548 shares of the company’s stock, valued at $2,650,762.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP John K. Handy sold 1,331 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $63.80, for a total transaction of $84,917.80. Following the completion of the sale, the executive vice president now directly owns 41,548 shares of the company’s stock, valued at $2,650,762.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman David W. Kemper sold 30,000 shares of Commerce Bancshares stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $61.78, for a total transaction of $1,853,400.00. Following the transaction, the chairman now owns 1,151,994 shares in the company, valued at $71,170,189.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,831 shares of company stock valued at $2,154,008 in the last ninety days. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Commerce Bancshares

Hedge funds and other institutional investors have recently made changes to their positions in the business. V Square Quantitative Management LLC acquired a new position in Commerce Bancshares in the 3rd quarter worth $26,000. Allworth Financial LP lifted its holdings in Commerce Bancshares by 51.1% in the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock worth $34,000 after buying an additional 192 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Commerce Bancshares in the 3rd quarter worth $39,000. Bessemer Group Inc. lifted its holdings in Commerce Bancshares by 86.3% in the 1st quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock worth $45,000 after buying an additional 390 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Commerce Bancshares by 156.5% in the 2nd quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock worth $48,000 after buying an additional 521 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Commerce Bancshares Price Performance

Shares of CBSH opened at $62.65 on Thursday. The firm has a 50 day simple moving average of $61.22 and a 200-day simple moving average of $58.70. Commerce Bancshares has a 1-year low of $41.67 and a 1-year high of $65.86. The stock has a market cap of $8.08 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 3.09 and a beta of 0.73.

Commerce Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.08 annualized dividend and a dividend yield of 1.72%. Commerce Bancshares’s dividend payout ratio is presently 28.13%.

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.