Commerce Bancshares, Inc. (NASDAQ:CBSH) Receives Consensus Recommendation of “Reduce” from Brokerages

Commerce Bancshares, Inc. (NASDAQ:CBSH) has earned a consensus rating of “Reduce” from the nine research firms that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $61.7483.

A number of research firms have recently issued reports on CBSH. Zacks Research lowered shares of Commerce Bancshares from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 8th. Wells Fargo & Company lowered their price target on shares of Commerce Bancshares from $61.90 to $57.14 and set an “equal weight” rating for the company in a report on Tuesday, October 21st. Piper Sandler set a $62.00 price objective on shares of Commerce Bancshares and gave the stock a “neutral” rating in a report on Monday, January 26th. TD Cowen decreased their price objective on shares of Commerce Bancshares from $61.00 to $55.00 and set a “hold” rating for the company in a research report on Wednesday, January 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Commerce Bancshares in a research report on Monday, December 29th.

Commerce Bancshares Price Performance

Shares of NASDAQ CBSH opened at $53.01 on Wednesday. Commerce Bancshares has a 1-year low of $48.69 and a 1-year high of $63.43. The company has a market capitalization of $7.02 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 2.69 and a beta of 0.62. The business has a 50-day moving average of $53.52 and a 200-day moving average of $54.27.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.99 by $0.02. The firm had revenue of $449.36 million for the quarter, compared to analyst estimates of $442.47 million. Commerce Bancshares had a return on equity of 15.51% and a net margin of 26.51%.Commerce Bancshares’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 EPS. Research analysts expect that Commerce Bancshares will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Friday, March 6th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, March 6th. Commerce Bancshares’s dividend payout ratio (DPR) is 26.25%.

Insider Buying and Selling at Commerce Bancshares

In related news, CEO John W. Kemper sold 23,397 shares of Commerce Bancshares stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $53.99, for a total value of $1,263,204.03. Following the completion of the sale, the chief executive officer owned 206,528 shares in the company, valued at approximately $11,150,446.72. The trade was a 10.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Derrick Brooks sold 1,044 shares of the company’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $54.40, for a total transaction of $56,793.60. Following the completion of the sale, the senior vice president directly owned 14,585 shares in the company, valued at $793,424. This represents a 6.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 27,667 shares of company stock valued at $1,493,323 in the last three months. Corporate insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Commerce Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of CBSH. Daytona Street Capital LLC acquired a new stake in shares of Commerce Bancshares in the 4th quarter valued at about $25,000. Danske Bank A S bought a new stake in Commerce Bancshares in the third quarter valued at about $25,000. Geneos Wealth Management Inc. raised its stake in Commerce Bancshares by 85.4% during the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock valued at $29,000 after buying an additional 216 shares in the last quarter. Quent Capital LLC bought a new position in Commerce Bancshares during the 3rd quarter worth approximately $31,000. Finally, CoreFirst Bank & Trust acquired a new position in shares of Commerce Bancshares in the 2nd quarter worth approximately $33,000. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Company Profile

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.