Brokerages Set Commerce Bancshares, Inc. (NASDAQ:CBSH) Target Price at $65.07

Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) has been assigned a consensus recommendation of "Hold" from the seven research firms that are covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating. The average 12-month target price among brokers that have issued a report on the stock in the last year is $65.07.

Several equities research analysts have weighed in on the company. Wells Fargo & Company increased their price target on Commerce Bancshares from $62.00 to $67.00 and gave the stock an "equal weight" rating in a research report on Tuesday, December 3rd. Keefe, Bruyette & Woods raised their target price on Commerce Bancshares from $66.00 to $78.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. Piper Sandler set a $68.50 price target on Commerce Bancshares and gave the company a "neutral" rating in a report on Friday, October 18th. Morgan Stanley lowered Commerce Bancshares from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $66.00 to $64.00 in a research report on Monday, September 30th. Finally, Raymond James lowered shares of Commerce Bancshares from an "outperform" rating to a "market perform" rating in a report on Thursday.

Insider Buying and Selling

In related news, Chairman David W. Kemper sold 30,000 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $61.78, for a total value of $1,853,400.00. Following the completion of the transaction, the chairman now directly owns 1,151,994 shares of the company's stock, valued at approximately $71,170,189.32. This represents a 2.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP David L. Roller sold 890 shares of the firm's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $72.27, for a total value of $64,320.30. Following the completion of the transaction, the senior vice president now owns 30,949 shares in the company, valued at $2,236,684.23. The trade was a 2.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,398 shares of company stock valued at $2,504,665. 3.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Commerce Bancshares

A number of hedge funds have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC acquired a new stake in Commerce Bancshares in the 2nd quarter valued at about $436,000. Raymond James & Associates increased its holdings in shares of Commerce Bancshares by 7.9% in the second quarter. Raymond James & Associates now owns 135,534 shares of the financial services provider's stock valued at $7,560,000 after purchasing an additional 9,881 shares during the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in Commerce Bancshares during the second quarter worth approximately $197,000. &PARTNERS acquired a new position in Commerce Bancshares during the second quarter worth $396,000. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in Commerce Bancshares by 0.5% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 30,906 shares of the financial services provider's stock valued at $1,724,000 after buying an additional 154 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Commerce Bancshares Price Performance

NASDAQ:CBSH traded up $0.14 during midday trading on Friday, hitting $63.03. The company's stock had a trading volume of 1,613,998 shares, compared to its average volume of 559,358. Commerce Bancshares has a fifty-two week low of $47.09 and a fifty-two week high of $72.75. The firm has a market cap of $8.08 billion, a P/E ratio of 16.41, a P/E/G ratio of 2.92 and a beta of 0.77. The firm's 50 day moving average is $67.18 and its 200-day moving average is $62.07.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $1.00 by $0.07. Commerce Bancshares had a net margin of 24.15% and a return on equity of 15.93%. The business had revenue of $421.38 million for the quarter, compared to the consensus estimate of $412.85 million. As a group, analysts forecast that Commerce Bancshares will post 3.95 EPS for the current year.

Commerce Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.71%. Commerce Bancshares's dividend payout ratio (DPR) is 28.13%.

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.