Commerce Bancshares, Inc. (NASDAQ:CBSH) Receives Consensus Recommendation of "Hold" from Analysts

Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) has been assigned an average rating of "Hold" from the six analysts that are presently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $67.83.

A number of brokerages have recently issued reports on CBSH. Piper Sandler boosted their target price on Commerce Bancshares from $69.00 to $72.00 and gave the stock a "neutral" rating in a research report on Thursday, January 23rd. StockNews.com raised Commerce Bancshares from a "sell" rating to a "hold" rating in a research report on Monday, January 13th. Wells Fargo & Company boosted their target price on Commerce Bancshares from $67.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Wednesday, January 29th. Raymond James downgraded Commerce Bancshares from an "outperform" rating to a "market perform" rating in a report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods lifted their price target on Commerce Bancshares from $66.00 to $78.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th.

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Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, EVP Kevin G. Barth sold 24,870 shares of the business's stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $66.06, for a total value of $1,642,912.20. Following the transaction, the executive vice president now owns 45,511 shares in the company, valued at $3,006,456.66. The trade was a 35.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Patricia R. Kellerhals sold 500 shares of the business's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $68.55, for a total value of $34,275.00. Following the completion of the transaction, the senior vice president now owns 22,265 shares in the company, valued at $1,526,265.75. This trade represents a 2.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 81,516 shares of company stock worth $5,457,086 over the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Commerce Bancshares

Several large investors have recently made changes to their positions in CBSH. Vanguard Group Inc. lifted its position in shares of Commerce Bancshares by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 13,225,491 shares of the financial services provider's stock worth $824,080,000 after purchasing an additional 642,401 shares during the last quarter. Aristotle Capital Management LLC lifted its position in shares of Commerce Bancshares by 4.3% during the 4th quarter. Aristotle Capital Management LLC now owns 8,566,476 shares of the financial services provider's stock worth $533,777,000 after purchasing an additional 351,406 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Commerce Bancshares by 25.5% during the 4th quarter. American Century Companies Inc. now owns 3,675,031 shares of the financial services provider's stock worth $228,991,000 after purchasing an additional 745,661 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Commerce Bancshares by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 2,484,463 shares of the financial services provider's stock worth $155,756,000 after purchasing an additional 87,723 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Commerce Bancshares by 11.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,272,118 shares of the financial services provider's stock worth $141,584,000 after purchasing an additional 227,052 shares during the last quarter. Institutional investors own 70.26% of the company's stock.

Commerce Bancshares Trading Up 0.4 %

Shares of NASDAQ CBSH traded up $0.26 during mid-day trading on Wednesday, reaching $62.22. The company had a trading volume of 678,637 shares, compared to its average volume of 532,012. The company has a 50-day moving average price of $64.73 and a two-hundred day moving average price of $64.56. The stock has a market cap of $8.33 billion, a PE ratio of 15.52, a P/E/G ratio of 2.13 and a beta of 0.78. Commerce Bancshares has a 1-year low of $47.89 and a 1-year high of $72.75.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.06. The company had revenue of $422.10 million for the quarter, compared to analyst estimates of $417.48 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. Commerce Bancshares's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.84 earnings per share. On average, research analysts expect that Commerce Bancshares will post 3.94 EPS for the current year.

Commerce Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be paid a $0.275 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.10 dividend on an annualized basis and a yield of 1.77%. This is an increase from Commerce Bancshares's previous quarterly dividend of $0.27. Commerce Bancshares's payout ratio is 27.43%.

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.