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

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have been given a consensus recommendation of “Hold” by the eleven ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $62.1769.

CBSH has been the topic of a number of research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Commerce Bancshares in a report on Monday. Zacks Research cut shares of Commerce Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 27th. Hovde Group assumed coverage on shares of Commerce Bancshares in a report on Monday, October 6th. They issued an “outperform” rating and a $66.67 target price on the stock. Keefe, Bruyette & Woods cut their target price on shares of Commerce Bancshares from $61.90 to $57.14 and set a “market perform” rating for the company in a research note on Friday, October 17th. Finally, Cowen reiterated a “hold” rating on shares of Commerce Bancshares in a report on Tuesday, October 21st.

Hedge Funds Weigh In On Commerce Bancshares

Several institutional investors have recently added to or reduced their stakes in the company. HB Wealth Management LLC raised its holdings in shares of Commerce Bancshares by 4.5% during the 2nd quarter. HB Wealth Management LLC now owns 4,056 shares of the financial services provider’s stock worth $252,000 after acquiring an additional 174 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Commerce Bancshares by 0.5% in the second quarter. Public Employees Retirement System of Ohio now owns 39,371 shares of the financial services provider’s stock valued at $2,448,000 after purchasing an additional 190 shares in the last quarter. Profund Advisors LLC increased its position in Commerce Bancshares by 4.4% in the third quarter. Profund Advisors LLC now owns 4,682 shares of the financial services provider’s stock worth $280,000 after purchasing an additional 197 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in Commerce Bancshares by 0.8% during the third quarter. Oregon Public Employees Retirement Fund now owns 25,004 shares of the financial services provider’s stock valued at $1,494,000 after purchasing an additional 200 shares in the last quarter. Finally, Nicholson Wealth Management Group LLC raised its stake in Commerce Bancshares by 1.0% during the second quarter. Nicholson Wealth Management Group LLC now owns 20,926 shares of the financial services provider’s stock valued at $1,301,000 after purchasing an additional 214 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Stock Performance

Shares of Commerce Bancshares stock opened at $52.66 on Friday. Commerce Bancshares has a fifty-two week low of $48.69 and a fifty-two week high of $66.53. The company has a market capitalization of $6.97 billion, a P/E ratio of 12.57, a P/E/G ratio of 4.73 and a beta of 0.62. The company has a fifty day moving average of $52.31 and a 200 day moving average of $56.74.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.06 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.03). The business had revenue of $448.85 million during the quarter, compared to analysts’ expectations of $447.04 million. Commerce Bancshares had a net margin of 26.48% and a return on equity of 15.73%. Commerce Bancshares’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.02 earnings per share. Analysts forecast that Commerce Bancshares will post 3.94 EPS for the current year.

Commerce Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Tuesday, December 2nd will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, December 2nd. Commerce Bancshares’s payout ratio is 26.25%.

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.