Commerce Bancshares, Inc. (NASDAQ:CBSH) Receives $65.07 Consensus Target Price from Analysts

Commerce Bancshares, Inc. (NASDAQ:CBSH) has been given a consensus recommendation of “Hold” by the seven brokerages that are presently covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold rating. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $65.07.

A number of analysts have recently issued reports on the company. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Raymond James cut shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Piper Sandler set a $68.50 target price on shares of Commerce Bancshares and gave the company a “neutral” rating in a research report on Friday, October 18th. Wells Fargo & Company increased their price target on shares of Commerce Bancshares from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd. Finally, Morgan Stanley cut Commerce Bancshares from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $66.00 to $64.00 in a report on Monday, September 30th.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, SVP Douglas D. Neff sold 888 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $72.10, for a total value of $64,024.80. Following the transaction, the senior vice president now directly owns 8,038 shares in the company, valued at approximately $579,539.80. This trade represents a 9.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $1,853,400.00. Following the completion of the sale, the chairman now directly owns 1,151,994 shares of the company’s stock, valued at $71,170,189.32. This trade represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,398 shares of company stock worth $2,504,665. 3.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Commerce Bancshares

Several hedge funds have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in Commerce Bancshares during the 3rd quarter worth $26,000. Allworth Financial LP boosted its position in shares of 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 purchasing an additional 192 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Commerce Bancshares during the third quarter worth $39,000. True Wealth Design LLC bought a new stake in Commerce Bancshares in the third quarter valued at about $47,000. Finally, Farther Finance Advisors LLC lifted its stake in Commerce Bancshares by 48.2% in the third quarter. Farther Finance Advisors LLC now owns 882 shares of the financial services provider’s stock valued at $52,000 after buying an additional 287 shares during the period. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Trading Up 0.9 %

Shares of CBSH stock opened at $63.31 on Friday. Commerce Bancshares has a 1 year low of $47.09 and a 1 year high of $72.75. The firm’s fifty day simple moving average is $67.33 and its 200 day simple moving average is $62.36. The firm has a market capitalization of $8.12 billion, a P/E ratio of 16.49, a price-to-earnings-growth ratio of 2.92 and a beta of 0.77.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.07. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. The company had revenue of $421.38 million for the quarter, compared to the consensus estimate of $412.85 million. Equities research analysts anticipate that Commerce Bancshares will post 3.95 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Tuesday, December 3rd. Commerce Bancshares’s payout ratio is currently 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.