Commerce Bancshares, Inc. (NASDAQ:CBSH) Given Average Rating of “Hold” by Brokerages

Commerce Bancshares, Inc. (NASDAQ:CBSH) has earned a consensus recommendation of “Hold” from the nine ratings firms that are covering the stock, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $59.3027.

CBSH has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. TD Cowen reiterated a “hold” rating and issued a $54.00 price target (up from $53.00) on shares of Commerce Bancshares in a research note on Thursday, April 23rd. Zacks Research upgraded shares of Commerce Bancshares from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Morgan Stanley reduced their price target on Commerce Bancshares from $67.00 to $65.00 and set an “equal weight” rating for the company in a report on Monday, March 2nd. Finally, Wells Fargo & Company reduced their price target on Commerce Bancshares from $60.00 to $53.00 and set an “equal weight” rating for the company in a report on Monday, March 30th.

Insider Buying and Selling

In other Commerce Bancshares news, Director Timothy S. Dunn purchased 2,500 shares of Commerce Bancshares stock in a transaction that occurred on Friday, March 13th. The stock was acquired at an average price of $47.71 per share, for a total transaction of $119,275.00. Following the completion of the acquisition, the director owned 5,403 shares of the company’s stock, valued at approximately $257,777.13. This trade represents a 86.12% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Kim L. Jakovich sold 949 shares of Commerce Bancshares stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $51.45, for a total value of $48,826.05. Following the transaction, the senior vice president owned 12,741 shares of the company’s stock, valued at $655,524.45. The trade was a 6.93% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Commerce Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the business. Daytona Street Capital LLC bought a new position in Commerce Bancshares during the fourth quarter worth about $25,000. Danske Bank A S bought a new position in Commerce Bancshares during the third quarter worth about $25,000. Geneos Wealth Management Inc. boosted its holdings in shares of Commerce Bancshares by 85.4% during the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 216 shares during the period. Root Financial Partners LLC boosted its holdings in shares of Commerce Bancshares by 104.9% during the first quarter. Root Financial Partners LLC now owns 623 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 319 shares during the period. Finally, Laurel Wealth Advisors LLC bought a new stake in shares of Commerce Bancshares during the fourth quarter worth approximately $34,000. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Price Performance

Shares of NASDAQ CBSH opened at $52.01 on Friday. The stock has a market capitalization of $7.58 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 3.53 and a beta of 0.61. The business has a 50-day moving average of $50.63 and a 200-day moving average of $51.78. Commerce Bancshares has a fifty-two week low of $46.99 and a fifty-two week high of $63.19.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.02. The company had revenue of $475.69 million during the quarter, compared to analysts’ expectations of $481.94 million. Commerce Bancshares had a return on equity of 14.78% and a net margin of 26.37%.Commerce Bancshares’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.98 EPS. On average, sell-side analysts expect that Commerce Bancshares will post 4.12 EPS for the current year.

Commerce Bancshares Dividend Announcement

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

About Commerce Bancshares

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.