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Analysts Set Commerce Bancshares, Inc. (NASDAQ:CBSH) PT at $61.79

Commerce Bancshares logo with Finance background

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH - Get Free Report) have been assigned an average recommendation of "Hold" from the seven analysts that are currently covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $61.79.

Several analysts have weighed in on the stock. Morgan Stanley cut shares of Commerce Bancshares from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $66.00 to $64.00 in a research note on Monday, September 30th. Piper Sandler set a $68.50 price target on Commerce Bancshares and gave the stock a "neutral" rating in a research report on Friday, October 18th. Finally, StockNews.com raised Commerce Bancshares from a "sell" rating to a "hold" rating in a report on Friday, October 18th.

Get Our Latest Research Report on Commerce Bancshares

Commerce Bancshares Trading Up 0.9 %

Shares of NASDAQ:CBSH traded up $0.66 on Monday, hitting $74.36. The company had a trading volume of 851,084 shares, compared to its average volume of 533,695. The stock has a 50 day moving average price of $63.52 and a 200 day moving average price of $60.36. The stock has a market cap of $9.54 billion, a price-to-earnings ratio of 19.19, a P/E/G ratio of 3.98 and a beta of 0.73. Commerce Bancshares has a 1-year low of $47.19 and a 1-year high of $76.39.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $421.38 million during the quarter, compared to the consensus estimate of $412.85 million. Sell-side analysts anticipate that Commerce Bancshares will post 4.02 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be paid a $0.27 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.45%. Commerce Bancshares's payout ratio is currently 28.13%.

Insider Buying and Selling

In other news, SVP Patricia R. Kellerhals sold 2,000 shares of Commerce Bancshares stock in a transaction on Monday, September 16th. The shares were sold at an average price of $62.23, for a total transaction of $124,460.00. Following the transaction, the senior vice president now owns 23,381 shares in the company, valued at approximately $1,454,999.63. The trade was a 7.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 transaction, 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. Insiders sold a total of 35,109 shares of company stock worth $2,191,123 in the last three months. 3.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. grew its stake in shares of 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 worth $1,724,000 after acquiring an additional 154 shares in the last quarter. Sound Stewardship LLC grew its position in Commerce Bancshares by 3.9% in the 3rd quarter. Sound Stewardship LLC now owns 4,339 shares of the financial services provider's stock worth $258,000 after purchasing an additional 163 shares in the last quarter. Allworth Financial LP increased its stake in Commerce Bancshares by 51.1% in the 3rd quarter. Allworth Financial LP now owns 568 shares of the financial services provider's stock valued at $34,000 after buying an additional 192 shares during the last quarter. Outlook Wealth Advisors LLC lifted its position in shares of Commerce Bancshares by 3.6% during the 3rd 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 in the last quarter. Finally, Marshall Financial Group LLC boosted its stake in shares of Commerce Bancshares by 1.2% in the 3rd quarter. Marshall Financial Group LLC now owns 18,257 shares of the financial services provider's stock worth $1,084,000 after buying an additional 223 shares during the last quarter. Institutional investors own 70.26% of the company's stock.

About Commerce Bancshares

(Get Free Report

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.

Further Reading

Analyst Recommendations for Commerce Bancshares (NASDAQ:CBSH)

Should you invest $1,000 in Commerce Bancshares right now?

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