Brokerages Set Commerce Bancshares, Inc. (NASDAQ:CBSH) PT at $59.16

Commerce Bancshares, Inc. (NASDAQ:CBSH) has earned a consensus rating of “Hold” from the nine analysts that are currently covering the stock, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $59.1599.

Several research analysts have recently weighed in on the stock. Morgan Stanley lowered their price target on shares of Commerce Bancshares from $67.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Monday, March 2nd. TD Cowen reissued a “hold” rating and set a $54.00 price target (up from $53.00) on shares of Commerce Bancshares in a research report on Thursday, April 23rd. Wells Fargo & Company lowered their price target on shares of Commerce Bancshares from $60.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Monday, March 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Commerce Bancshares in a research report on Friday, March 27th. Finally, Hovde Group lowered their price target on shares of Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 22nd.

Insider Activity

In other Commerce Bancshares news, SVP Kim L. Jakovich sold 949 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were 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. This represents a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Margaret M. Rowe sold 861 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $51.69, for a total transaction of $44,505.09. Following the completion of the transaction, the senior vice president directly owned 5,742 shares in the company, valued at $296,803.98. The trade was a 13.04% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CBSH. Norges Bank acquired a new position in Commerce Bancshares in the fourth quarter valued at about $85,282,000. Champlain Investment Partners LLC acquired a new position in Commerce Bancshares in the fourth quarter valued at about $58,830,000. Vanguard Group Inc. lifted its position in Commerce Bancshares by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 14,690,039 shares of the financial services provider’s stock valued at $768,877,000 after buying an additional 1,098,142 shares during the last quarter. Victory Capital Management Inc. lifted its position in Commerce Bancshares by 1,433.7% in the fourth quarter. Victory Capital Management Inc. now owns 1,145,683 shares of the financial services provider’s stock valued at $59,965,000 after buying an additional 1,070,980 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Commerce Bancshares by 29.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,943,247 shares of the financial services provider’s stock valued at $193,999,000 after buying an additional 894,183 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Commerce Bancshares Stock Performance

Shares of CBSH stock opened at $51.89 on Monday. The company’s 50-day moving average price is $50.16 and its 200-day moving average price is $51.67. The stock has a market cap of $7.56 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 3.55 and a beta of 0.61. Commerce Bancshares has a twelve month low of $46.99 and a twelve month high of $63.19.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results 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 firm had revenue of $475.69 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 EPS. As a group, equities research analysts predict that Commerce Bancshares will post 4.1 EPS for the current year.

Commerce Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Friday, June 5th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.10 annualized dividend and a dividend yield of 2.1%. Commerce Bancshares’s payout ratio is presently 26.38%.

Commerce Bancshares Company Profile

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.