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

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) have received an average rating of "Hold" from the six analysts that are presently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $67.83.

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

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Insider Buying and Selling

In other Commerce Bancshares news, CFO Charles G. Kim sold 13,493 shares of the business's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $67.76, for a total value of $914,285.68. Following the transaction, the chief financial officer now directly owns 86,246 shares in the company, valued at $5,844,028.96. The trade was a 13.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP David L. Roller sold 890 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $72.27, for a total transaction of $64,320.30. Following the sale, the senior vice president now owns 30,949 shares of the company's stock, valued at approximately $2,236,684.23. The trade was a 2.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,944 shares of company stock worth $5,835,512. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CBSH. V Square Quantitative Management LLC purchased a new stake in Commerce Bancshares during the third quarter valued at about $26,000. CoreFirst Bank & Trust bought a new stake in shares of Commerce Bancshares in the fourth quarter valued at approximately $33,000. Allworth Financial LP raised its position in shares of Commerce Bancshares by 51.1% in the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 192 shares during the period. Marshall Investment Management LLC purchased a new stake in shares of Commerce Bancshares during the 4th quarter valued at approximately $35,000. Finally, Capital Performance Advisors LLP bought a new position in Commerce Bancshares in the 3rd quarter worth approximately $39,000. Hedge funds and other institutional investors own 70.26% of the company's stock.

Commerce Bancshares Trading Up 0.9 %

CBSH stock traded up $0.63 during trading on Friday, reaching $67.36. 511,096 shares of the stock were exchanged, compared to its average volume of 538,018. The firm's 50 day moving average is $65.21 and its 200 day moving average is $64.23. The firm has a market cap of $8.64 billion, a P/E ratio of 16.80, a price-to-earnings-growth ratio of 2.27 and a beta of 0.80. Commerce Bancshares has a twelve month low of $47.09 and a twelve month high of $72.75.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts' consensus estimates of $0.95 by $0.06. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The company had revenue of $422.10 million for the quarter, compared to analyst estimates of $417.48 million. During the same period in the prior year, the firm earned $0.84 earnings per share. Commerce Bancshares's revenue for the quarter was up 7.3% on a year-over-year basis. As a group, analysts predict that Commerce Bancshares will post 3.9 earnings per share for the current fiscal year.

Commerce Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Commerce Bancshares's previous quarterly dividend of $0.27. This represents a $1.10 annualized dividend and a dividend yield of 1.63%. Commerce Bancshares's dividend payout ratio is currently 26.93%.

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.