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

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have been given a consensus rating of “Hold” by the nine ratings firms that are covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $63.2857.

Several research analysts have recently issued reports on the company. Weiss Ratings raised Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, July 21st. TD Cowen restated a “hold” rating and set a $63.00 price target (up from $62.00) on shares of Commerce Bancshares in a research report on Friday, July 17th. Stephens set a $64.00 price target on Commerce Bancshares and gave the stock an “equal weight” rating in a research note on Friday, July 17th. Morgan Stanley reiterated a “positive” rating and issued a $65.00 price objective (up from $61.00) on shares of Commerce Bancshares in a report on Monday, June 29th. Finally, Piper Sandler reissued a “neutral” rating and set a $66.00 price objective (up from $59.00) on shares of Commerce Bancshares in a research report on Friday, July 17th.

Insider Activity at Commerce Bancshares

In related news, CFO Charles G. Kim sold 19,771 shares of the business’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $59.18, for a total transaction of $1,170,047.78. Following the sale, the chief financial officer owned 119,410 shares of the company’s stock, valued at $7,066,683.80. The trade was a 14.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Robert S. Holmes sold 5,000 shares of the company’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $60.20, for a total transaction of $301,000.00. Following the completion of the sale, the executive vice president owned 55,962 shares in the company, valued at approximately $3,368,912.40. This trade represents a 8.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 32,484 shares of company stock worth $1,936,055 over the last 90 days. 1.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings 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 worth $768,877,000 after acquiring an additional 1,098,142 shares in the last quarter. BlackRock Inc. bought a new position in shares of Commerce Bancshares during the second quarter valued at $755,669,000. State Street Corp raised its position in shares of Commerce Bancshares by 8.4% in the 4th quarter. State Street Corp now owns 7,318,898 shares of the financial services provider’s stock worth $383,071,000 after purchasing an additional 566,853 shares during the last quarter. Commerce Bank boosted its stake in Commerce Bancshares by 7.0% in the 4th quarter. Commerce Bank now owns 5,660,823 shares of the financial services provider’s stock worth $296,287,000 after purchasing an additional 369,636 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Commerce Bancshares by 29.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,943,247 shares of the financial services provider’s stock worth $193,999,000 after purchasing an additional 894,183 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Stock Down 0.3%

Shares of NASDAQ CBSH opened at $59.56 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.01. Commerce Bancshares has a 12 month low of $46.99 and a 12 month high of $60.92. The firm has a market capitalization of $8.54 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 2.14 and a beta of 0.59. The firm has a fifty day simple moving average of $58.08 and a two-hundred day simple moving average of $53.72.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, July 16th. The financial services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $1.04 by $0.06. The firm had revenue of $498.91 million during the quarter, compared to analysts’ expectations of $492.22 million. Commerce Bancshares had a net margin of 26.07% and a return on equity of 14.31%. During the same period last year, the company posted $1.14 EPS. Equities analysts expect that Commerce Bancshares will post 4.25 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Friday, September 4th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, September 4th. Commerce Bancshares’s dividend payout ratio (DPR) is presently 26.63%.

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.