Commerce Bancshares (NASDAQ:CBSH) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Commerce Bancshares (NASDAQ:CBSH) from a sell rating to a hold rating in a report published on Tuesday.

CBSH has been the topic of a number of other research reports. Morgan Stanley upgraded Commerce Bancshares from an “underweight” rating to an “equal weight” rating and dropped their price objective for the stock from $66.00 to $58.00 in a report on Monday, April 7th. Piper Sandler raised their price objective on shares of Commerce Bancshares from $65.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, April 17th. Keefe, Bruyette & Woods reduced their target price on Commerce Bancshares from $74.00 to $70.00 and set a “market perform” rating for the company in a research report on Thursday, April 17th. Finally, Wells Fargo & Company cut their price objective on Commerce Bancshares from $70.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, April 9th. Seven analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $63.20.

Commerce Bancshares Trading Down 0.3%

NASDAQ CBSH opened at $65.45 on Tuesday. The stock’s 50-day moving average price is $60.60 and its two-hundred day moving average price is $64.36. The company has a market cap of $8.73 billion, a PE ratio of 16.32, a PEG ratio of 2.13 and a beta of 0.60. Commerce Bancshares has a 1 year low of $49.97 and a 1 year high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. The company had revenue of $428.05 million for the quarter, compared to the consensus estimate of $417.85 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. Research analysts forecast that Commerce Bancshares will post 3.94 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Friday, June 6th will be given a $0.275 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.10 dividend on an annualized basis and a yield of 1.68%. Commerce Bancshares’s payout ratio is 26.63%.

Insider Activity at Commerce Bancshares

In other news, Director June Mcallister Fowler sold 1,618 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $60.72, for a total value of $98,244.96. Following the completion of the sale, the director now owns 3,175 shares of the company’s stock, valued at approximately $192,786. This represents a 33.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Commerce Bancshares

A number of large investors have recently added to or reduced their stakes in the business. Kapitalo Investimentos Ltda bought a new position in shares of Commerce Bancshares in the fourth quarter worth $26,000. IMA Advisory Services Inc. acquired a new position in shares of Commerce Bancshares in the first quarter worth approximately $29,000. CoreFirst Bank & Trust acquired a new position in shares of Commerce Bancshares in the fourth quarter worth approximately $33,000. Marshall Investment Management LLC acquired a new position in Commerce Bancshares in the fourth quarter valued at approximately $35,000. Finally, Allworth Financial LP lifted its stake in Commerce Bancshares by 55.0% in the first quarter. Allworth Financial LP now owns 651 shares of the financial services provider’s stock valued at $40,000 after buying an additional 231 shares during the period. Institutional investors own 70.26% of the company’s stock.

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.