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

Commerce Bancshares, Inc. (NASDAQ:CBSH) has been given a consensus rating of “Hold” by the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year 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 analyst reports. Morgan Stanley cut their price objective on shares of Commerce Bancshares from $67.00 to $65.00 and set an “equal weight” rating for the company in a research report on Monday, March 2nd. TD Cowen reissued a “hold” rating and issued a $54.00 price objective (up from $53.00) on shares of Commerce Bancshares in a research report on Thursday, April 23rd. Piper Sandler reissued a “neutral” rating and issued a $58.50 price objective (up from $56.00) on shares of Commerce Bancshares in a research report on Thursday, April 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Commerce Bancshares in a research report on Friday, March 27th. Finally, Zacks Research upgraded shares of Commerce Bancshares from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th.

Institutional Investors Weigh In On Commerce Bancshares

A number of institutional investors have recently bought and sold shares of CBSH. Tudor Investment Corp ET AL grew its stake in Commerce Bancshares by 5,922.5% during the third quarter. Tudor Investment Corp ET AL now owns 501,859 shares of the financial services provider’s stock worth $29,991,000 after buying an additional 493,526 shares during the period. Vanguard Group Inc. grew its stake 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 worth $768,877,000 after buying an additional 1,098,142 shares during the period. American Century Companies Inc. grew its stake in Commerce Bancshares by 5.4% during the third quarter. American Century Companies Inc. now owns 3,972,884 shares of the financial services provider’s stock worth $237,420,000 after buying an additional 202,758 shares during the period. Verition Fund Management LLC grew its stake in Commerce Bancshares by 39.8% during the fourth quarter. Verition Fund Management LLC now owns 631,981 shares of the financial services provider’s stock worth $33,078,000 after buying an additional 179,894 shares during the period. Finally, Mattern Capital Management LLC grew its stake in Commerce Bancshares by 14.4% during the fourth quarter. Mattern Capital Management LLC now owns 161,306 shares of the financial services provider’s stock worth $8,443,000 after buying an additional 20,277 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Commerce Bancshares Price Performance

NASDAQ:CBSH opened at $55.08 on Tuesday. The firm has a 50 day simple moving average of $52.25 and a 200-day simple moving average of $52.12. The firm has a market cap of $8.03 billion, a PE ratio of 13.21, a P/E/G ratio of 3.72 and a beta of 0.60. Commerce Bancshares has a 1-year low of $46.99 and a 1-year high of $63.19.

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

Commerce Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Friday, June 5th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, June 5th. Commerce Bancshares’s payout ratio 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.