Commerce Bancshares (NASDAQ:CBSH) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Commerce Bancshares (NASDAQ:CBSH) from a sell rating to a hold rating in a report released on Wednesday.

A number of other brokerages have also weighed in on CBSH. Morgan Stanley boosted their target price on shares of Commerce Bancshares from $46.00 to $55.00 and gave the company an equal weight rating in a research note on Wednesday, February 7th. Keefe, Bruyette & Woods boosted their target price on shares of Commerce Bancshares from $56.00 to $58.00 and gave the company a market perform rating in a research note on Wednesday. Bank of America began coverage on Commerce Bancshares in a research note on Thursday, January 11th. They issued a neutral rating and a $55.00 price objective for the company. Raymond James upgraded Commerce Bancshares from a market perform rating to an outperform rating and set a $61.00 price objective for the company in a research note on Wednesday. Finally, Piper Sandler upped their price objective on Commerce Bancshares from $53.00 to $54.00 and gave the stock a neutral rating in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Commerce Bancshares currently has a consensus rating of Hold and a consensus price target of $55.00.

Commerce Bancshares Trading Up 2.0 %

CBSH stock opened at $53.07 on Wednesday. The stock has a market capitalization of $6.89 billion, a PE ratio of 14.80 and a beta of 0.79. Commerce Bancshares has a 12-month low of $40.91 and a 12-month high of $56.75. The stock’s 50 day simple moving average is $51.97 and its 200 day simple moving average is $50.92.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Tuesday, April 16th. The financial services provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. The business had revenue of $397.80 million during the quarter, compared to analyst estimates of $389.49 million. Commerce Bancshares had a net margin of 23.33% and a return on equity of 16.78%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.90 EPS. On average, research analysts predict that Commerce Bancshares will post 3.24 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Wednesday, June 5th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.04%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 30.12%.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 730 shares of the stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $54.87, for a total transaction of $40,055.10. Following the completion of the transaction, the senior vice president now owns 25,502 shares of the company’s stock, valued at approximately $1,399,294.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP John K. Handy sold 1,508 shares of the stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $54.79, for a total value of $82,623.32. Following the completion of the transaction, the executive vice president now owns 46,524 shares of the company’s stock, valued at approximately $2,549,049.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Patricia R. Kellerhals sold 730 shares of the stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $54.87, for a total transaction of $40,055.10. Following the completion of the transaction, the senior vice president now directly owns 25,502 shares of the company’s stock, valued at approximately $1,399,294.74. The disclosure for this sale can be found here. Insiders sold 14,321 shares of company stock valued at $752,387 in the last 90 days. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. First Republic Investment Management Inc. lifted its holdings in shares of Commerce Bancshares by 0.3% in the 2nd quarter. First Republic Investment Management Inc. now owns 53,245 shares of the financial services provider’s stock valued at $3,496,000 after acquiring an additional 138 shares during the last quarter. Cetera Advisors LLC raised its position in Commerce Bancshares by 3.6% in the 4th quarter. Cetera Advisors LLC now owns 5,099 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 179 shares during the period. Capital Advisors Inc. OK raised its position in Commerce Bancshares by 5.0% in the 4th quarter. Capital Advisors Inc. OK now owns 4,431 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 210 shares during the period. Signaturefd LLC raised its position in Commerce Bancshares by 14.4% in the 4th quarter. Signaturefd LLC now owns 1,694 shares of the financial services provider’s stock worth $90,000 after purchasing an additional 213 shares during the period. Finally, Angeles Investment Advisors LLC raised its position in Commerce Bancshares by 5.0% in the 4th quarter. Angeles Investment Advisors LLC now owns 4,557 shares of the financial services provider’s stock worth $243,000 after purchasing an additional 217 shares during the period. Institutional investors 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.