Commerce Bancshares, Inc. (NASDAQ:CBSH) Given Average Recommendation of "Hold" by Analysts

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) have received a consensus recommendation of "Hold" from the six research firms that are presently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation. The average 1-year target price among brokerages that have covered the stock in the last year is $66.75.

A number of research analysts have issued reports on the stock. Wells Fargo & Company upped their price target on shares of Commerce Bancshares from $62.00 to $67.00 and gave the company an "equal weight" rating in a research note on Tuesday, December 3rd. Piper Sandler set a $68.50 target price on Commerce Bancshares and gave the stock a "neutral" rating in a research note on Friday, October 18th. StockNews.com upgraded Commerce Bancshares from a "sell" rating to a "hold" rating in a research note on Monday. Keefe, Bruyette & Woods raised their price objective on Commerce Bancshares from $66.00 to $78.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Finally, Morgan Stanley lowered Commerce Bancshares from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $66.00 to $64.00 in a research report on Monday, September 30th.

Insiders Place Their Bets

In other news, Chairman David W. Kemper sold 30,000 shares of the business's stock in a transaction that occurred 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 sale, the chairman now directly owns 1,151,994 shares in the company, valued at $71,170,189.32. The trade was a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kevin G. Barth sold 1,582 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $67.54, for a total value of $106,848.28. Following the transaction, the executive vice president now owns 65,409 shares in the company, valued at $4,417,723.86. This trade represents a 2.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,398 shares of company stock worth $2,504,665. Corporate insiders own 3.20% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CBSH. Sound Stewardship LLC grew its stake in Commerce Bancshares by 3.9% during the 3rd quarter. Sound Stewardship LLC now owns 4,339 shares of the financial services provider's stock valued at $258,000 after acquiring an additional 163 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its position in shares of Commerce Bancshares by 4.9% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 3,908 shares of the financial services provider's stock valued at $244,000 after purchasing an additional 183 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Commerce Bancshares by 19.6% in the fourth quarter. GAMMA Investing LLC now owns 1,139 shares of the financial services provider's stock valued at $71,000 after purchasing an additional 187 shares during the last quarter. Allworth Financial LP lifted its position in Commerce Bancshares by 51.1% during the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider's stock worth $34,000 after buying an additional 192 shares in the last quarter. Finally, Outlook Wealth Advisors LLC boosted its stake in Commerce Bancshares by 3.6% during the third quarter. Outlook Wealth Advisors LLC now owns 6,303 shares of the financial services provider's stock worth $374,000 after buying an additional 217 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Commerce Bancshares Stock Up 2.8 %

Shares of Commerce Bancshares stock traded up $1.72 during trading on Tuesday, reaching $63.46. The company's stock had a trading volume of 490,923 shares, compared to its average volume of 496,490. Commerce Bancshares has a 1-year low of $47.09 and a 1-year high of $72.75. The company has a 50-day simple moving average of $67.47 and a two-hundred day simple moving average of $63.22. The company has a market cap of $8.14 billion, a price-to-earnings ratio of 16.53, a P/E/G ratio of 2.92 and a beta of 0.79.

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

Commerce Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend was Tuesday, December 3rd. Commerce Bancshares's dividend payout ratio is currently 28.13%.

About Commerce Bancshares

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.