Commerce Bancshares, Inc. (NASDAQ:CBSH) Receives $59.30 Consensus PT from Analysts

by · The Cerbat Gem

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH – Get Free Report) have been given a consensus recommendation of “Hold” by the nine analysts that are currently covering the stock, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $59.3027.

Several equities analysts have weighed in on the stock. Morgan Stanley lowered their price objective on shares of Commerce Bancshares from $67.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Monday, March 2nd. Wall Street Zen raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Piper Sandler reaffirmed a “neutral” rating and issued a $58.50 target price (up from $56.00) on shares of Commerce Bancshares in a research report on Thursday, April 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Commerce Bancshares in a research report on Friday, March 27th. Finally, Zacks Research raised Commerce Bancshares from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th.

Read Our Latest Research Report on CBSH

Commerce Bancshares Price Performance

CBSH stock opened at $52.02 on Friday. The firm has a market capitalization of $7.58 billion, a P/E ratio of 12.47, a P/E/G ratio of 3.50 and a beta of 0.60. Commerce Bancshares has a 52-week low of $46.99 and a 52-week high of $63.19. The company’s 50 day simple moving average is $50.80 and its 200-day simple moving average is $51.78.

Commerce Bancshares (NASDAQ:CBSH – Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.02. Commerce Bancshares had a net margin of 26.37% and a return on equity of 14.78%. The firm had revenue of $475.69 million during the quarter, compared to analyst estimates of $481.94 million. During the same quarter last year, the business posted $0.98 EPS. The company’s revenue was up 11.1% on a year-over-year basis. Sell-side analysts predict that Commerce Bancshares will post 4.12 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Friday, June 5th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.10 dividend on an annualized basis and a yield of 2.1%. Commerce Bancshares’s payout ratio is presently 26.38%.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, SVP Margaret M. Rowe sold 861 shares of Commerce Bancshares stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $51.69, for a total transaction of $44,505.09. Following the completion of the sale, the senior vice president owned 5,742 shares of the company’s stock, valued at $296,803.98. This trade represents a 13.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Kim L. Jakovich sold 949 shares of Commerce Bancshares stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $51.45, for a total transaction of $48,826.05. Following the sale, the senior vice president directly owned 12,741 shares of the company’s stock, valued at $655,524.45. This trade represents a 6.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Commerce Bancshares

A number of institutional investors have recently bought and sold shares of CBSH. Norges Bank acquired a new stake in Commerce Bancshares during the fourth quarter valued at $85,282,000. Champlain Investment Partners LLC acquired a new stake in Commerce Bancshares during the fourth quarter valued at $58,830,000. Vanguard Group Inc. boosted its position in Commerce Bancshares by 8.1% during the fourth quarter. Vanguard Group Inc. now owns 14,690,039 shares of the financial services provider’s stock valued at $768,877,000 after purchasing an additional 1,098,142 shares during the last quarter. Victory Capital Management Inc. boosted its position in Commerce Bancshares by 1,433.7% during the fourth quarter. Victory Capital Management Inc. now owns 1,145,683 shares of the financial services provider’s stock valued at $59,965,000 after purchasing an additional 1,070,980 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Commerce Bancshares by 29.3% during the first quarter. Dimensional Fund Advisors LP now owns 3,943,247 shares of the financial services provider’s stock valued at $193,999,000 after purchasing an additional 894,183 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

About Commerce Bancshares

(Get Free Report)

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.

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