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

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have been assigned an average rating of “Hold” from the eight research firms that are covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $58.00.

CBSH has been the subject of several recent analyst reports. Wall Street Zen cut shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Piper Sandler boosted their price objective on shares of Commerce Bancshares from $58.50 to $59.00 and gave the company a “neutral” rating in a research note on Friday. Morgan Stanley reduced their price objective on shares of Commerce Bancshares from $67.00 to $65.00 and set an “equal weight” rating for the company in a research note on Monday, March 2nd. TD Cowen reaffirmed a “hold” rating and set a $54.00 price objective (up from $53.00) on shares of Commerce Bancshares in a research note on Thursday, April 23rd. Finally, Wells Fargo & Company reduced their price objective on shares of Commerce Bancshares from $60.00 to $53.00 and set an “equal weight” rating for the company in a research note on Monday, March 30th.

Commerce Bancshares Stock Performance

NASDAQ CBSH opened at $57.82 on Tuesday. Commerce Bancshares has a 52-week low of $46.99 and a 52-week high of $63.19. The company has a 50-day simple moving average of $52.75 and a 200 day simple moving average of $52.25. The company has a market capitalization of $8.43 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 3.93 and a beta of 0.60.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Tuesday, April 21st. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.02. The business had revenue of $475.69 million during the quarter, compared to the consensus estimate of $481.94 million. Commerce Bancshares had a return on equity of 14.78% and a net margin of 26.37%.The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the business posted $0.98 earnings per share. As a group, analysts forecast that Commerce Bancshares will post 4.14 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Friday, June 5th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Friday, June 5th. Commerce Bancshares’s dividend payout ratio is presently 26.38%.

Institutional Investors Weigh In On Commerce Bancshares

A number of institutional investors have recently made changes to their positions in CBSH. Apriem Advisors boosted its holdings in Commerce Bancshares by 5.0% during the 4th quarter. Apriem Advisors now owns 4,018 shares of the financial services provider’s stock valued at $210,000 after acquiring an additional 191 shares during the period. Heartland Bank & Trust Co boosted its holdings in Commerce Bancshares by 4.4% during the 4th quarter. Heartland Bank & Trust Co now owns 4,595 shares of the financial services provider’s stock valued at $240,000 after acquiring an additional 192 shares during the period. Outlook Wealth Advisors LLC boosted its holdings in Commerce Bancshares by 3.7% during the 4th quarter. Outlook Wealth Advisors LLC now owns 5,934 shares of the financial services provider’s stock valued at $311,000 after acquiring an additional 214 shares during the period. Crossmark Global Holdings Inc. boosted its position in Commerce Bancshares by 2.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 8,265 shares of the financial services provider’s stock valued at $494,000 after buying an additional 215 shares during the period. Finally, Elser Financial Planning Inc boosted its position in Commerce Bancshares by 5.0% during the 4th quarter. Elser Financial Planning Inc now owns 4,531 shares of the financial services provider’s stock valued at $237,000 after buying an additional 215 shares during the period. Hedge funds and other 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.