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

Commerce Bancshares, Inc. (NASDAQ:CBSH) has been assigned a consensus recommendation of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $61.79.

A number of research analysts have weighed in on the company. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Morgan Stanley cut shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $66.00 to $64.00 in a research note on Monday, September 30th. Finally, Piper Sandler set a $68.50 target price on shares of Commerce Bancshares and gave the company a “neutral” rating in a research report on Friday, October 18th.

Commerce Bancshares Stock Up 2.6 %

Shares of CBSH stock opened at $73.70 on Monday. The firm has a market capitalization of $9.45 billion, a PE ratio of 19.19, a P/E/G ratio of 3.98 and a beta of 0.73. The company has a 50 day moving average price of $63.52 and a 200-day moving average price of $60.36. Commerce Bancshares has a 52 week low of $47.19 and a 52 week high of $73.82.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. The business had revenue of $421.38 million during the quarter, compared to the consensus estimate of $412.85 million. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. Analysts anticipate that Commerce Bancshares will post 4.02 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Tuesday, December 3rd. Commerce Bancshares’s dividend payout ratio is currently 28.13%.

Insider Transactions at Commerce Bancshares

In other news, SVP Patricia R. Kellerhals sold 2,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $62.23, for a total value of $124,460.00. Following the completion of the transaction, the senior vice president now owns 23,381 shares of the company’s stock, valued at $1,454,999.63. This represents a 7.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Douglas D. Neff sold 888 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $72.10, for a total value of $64,024.80. Following the sale, the senior vice president now directly owns 8,038 shares in the company, valued at $579,539.80. This trade represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,109 shares of company stock valued at $2,191,123 over the last three months. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Commerce Bancshares

A number of institutional investors have recently added to or reduced their stakes in CBSH. Virtu Financial LLC bought a new position in shares of Commerce Bancshares during the third quarter worth $566,000. Coldstream Capital Management Inc. lifted its stake in Commerce Bancshares by 3.7% in the 3rd quarter. Coldstream Capital Management Inc. now owns 37,654 shares of the financial services provider’s stock worth $2,237,000 after purchasing an additional 1,333 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Commerce Bancshares by 7.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,396,740 shares of the financial services provider’s stock valued at $142,951,000 after purchasing an additional 163,782 shares during the last quarter. M&T Bank Corp grew its position in shares of Commerce Bancshares by 0.6% during the third quarter. M&T Bank Corp now owns 63,756 shares of the financial services provider’s stock valued at $3,787,000 after purchasing an additional 372 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Commerce Bancshares by 19.4% in the third quarter. Barclays PLC now owns 106,934 shares of the financial services provider’s stock worth $6,353,000 after purchasing an additional 17,400 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Commerce Bancshares Company Profile

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.