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

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have received a consensus recommendation of “Hold” from the nine ratings firms that are covering the firm, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $59.3027.

A number of research firms have commented on CBSH. Piper Sandler restated a “neutral” rating and issued a $58.50 price target (up from $56.00) on shares of Commerce Bancshares in a report on Thursday, April 23rd. Hovde Group reduced their target price on Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, April 22nd. Wells Fargo & Company decreased their target price on Commerce Bancshares from $60.00 to $53.00 and set an “equal weight” rating for the company in a research report on Monday, March 30th. Wall Street Zen raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, TD Cowen reiterated a “hold” rating and issued a $54.00 price target (up from $53.00) on shares of Commerce Bancshares in a report on Thursday, April 23rd.

Commerce Bancshares Stock Performance

Shares of CBSH opened at $52.45 on Friday. The firm has a market cap of $7.65 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 3.49 and a beta of 0.60. Commerce Bancshares has a 52-week low of $46.99 and a 52-week high of $63.19. The business’s 50 day moving average price is $51.03 and its two-hundred day moving average price is $51.80.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data 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. Commerce Bancshares had a net margin of 26.37% and a return on equity of 14.78%. The company had revenue of $475.69 million during the quarter, compared to analyst estimates of $481.94 million. During the same quarter in the previous year, the business posted $0.98 EPS. Commerce Bancshares’s revenue for the quarter was up 11.1% compared to the same quarter last year. Research analysts predict that Commerce Bancshares will post 4.12 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

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

Insiders Place Their Bets

In other Commerce Bancshares news, Director Timothy S. Dunn acquired 2,500 shares of the stock in a transaction on Friday, March 13th. The shares were purchased at an average price of $47.71 per share, for a total transaction of $119,275.00. Following the completion of the acquisition, the director owned 5,403 shares in the company, valued at approximately $257,777.13. This represents a 86.12% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Commerce Bancshares

Several large investors have recently added to or reduced their stakes in CBSH. Tudor Investment Corp ET AL grew its holdings 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 in the last quarter. Vanguard Group Inc. grew its stake in shares of Commerce Bancshares by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 14,690,039 shares of the financial services provider’s stock worth $768,877,000 after acquiring an additional 1,098,142 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Commerce Bancshares by 5.4% in the 3rd quarter. American Century Companies Inc. now owns 3,972,884 shares of the financial services provider’s stock worth $237,420,000 after acquiring an additional 202,758 shares in the last quarter. Mattern Capital Management LLC raised its holdings in shares of Commerce Bancshares by 14.4% in the fourth quarter. Mattern Capital Management LLC now owns 161,306 shares of the financial services provider’s stock valued at $8,443,000 after purchasing an additional 20,277 shares during the last quarter. Finally, Mutual Advisors LLC boosted its holdings in Commerce Bancshares by 5.1% during the fourth quarter. Mutual Advisors LLC now owns 492,663 shares of the financial services provider’s stock worth $25,786,000 after purchasing an additional 23,874 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

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.