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

Commerce Bancshares, Inc. (NASDAQ:CBSH) has received an average rating of “Hold” from the eleven analysts that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $65.2857.

Several research firms have weighed in on CBSH. Keefe, Bruyette & Woods lowered their price target on Commerce Bancshares from $65.00 to $60.00 and set a “market perform” rating on the stock in a report on Friday, October 17th. Cowen reaffirmed a “hold” rating on shares of Commerce Bancshares in a research note on Tuesday, October 21st. TD Cowen began coverage on shares of Commerce Bancshares in a research note on Thursday, September 25th. They issued a “hold” rating and a $63.00 price target for the company. Hovde Group assumed coverage on shares of Commerce Bancshares in a research report on Monday, October 6th. They set an “outperform” rating and a $70.00 price objective on the stock. Finally, Morgan Stanley upped their target price on shares of Commerce Bancshares from $66.00 to $70.00 and gave the stock an “underperform” rating in a research report on Monday, September 29th.

Commerce Bancshares Price Performance

CBSH opened at $54.15 on Monday. Commerce Bancshares has a 1 year low of $51.64 and a 1 year high of $72.75. The company has a market capitalization of $7.23 billion, a price-to-earnings ratio of 12.92, a P/E/G ratio of 4.71 and a beta of 0.62. The firm’s fifty day moving average price is $57.35 and its two-hundred day moving average price is $60.78.

Commerce Bancshares shares are going to split on the morning of Tuesday, December 2nd. The 1.05-1 split was recently announced. The newly created shares will be payable to shareholders after the closing bell on Monday, December 1st.

Commerce Bancshares (NASDAQ:CBSH) last posted 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 firm had revenue of $440.97 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 for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.07 EPS. As a group, equities analysts anticipate that Commerce Bancshares will post 3.94 EPS for the current year.

Commerce Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Tuesday, December 2nd will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, December 2nd. Commerce Bancshares’s payout ratio is presently 26.25%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Commerce Bancshares by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 13,591,897 shares of the financial services provider’s stock valued at $812,252,000 after purchasing an additional 151,785 shares during the period. American Century Companies Inc. raised its holdings in Commerce Bancshares by 4.4% in the first quarter. American Century Companies Inc. now owns 3,836,113 shares of the financial services provider’s stock worth $238,721,000 after purchasing an additional 161,082 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Commerce Bancshares by 2.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,321,855 shares of the financial services provider’s stock valued at $144,479,000 after buying an additional 49,737 shares during the period. Boston Trust Walden Corp boosted its holdings in shares of Commerce Bancshares by 28.3% during the 3rd quarter. Boston Trust Walden Corp now owns 1,903,362 shares of the financial services provider’s stock valued at $113,745,000 after buying an additional 420,053 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Commerce Bancshares by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,611,608 shares of the financial services provider’s stock valued at $96,310,000 after buying an additional 73,965 shares in the last quarter. 70.26% of the stock is currently owned by 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.