Commerce Bancshares, Inc. (NASDAQ:CBSH) Given Consensus Rating of “Hold” by Analysts

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have been given a consensus rating of “Hold” by the seven analysts that are presently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $58.86.

Several research analysts recently commented on CBSH shares. Keefe, Bruyette & Woods increased their price target on Commerce Bancshares from $58.00 to $60.00 and gave the company a “market perform” rating in a research report on Friday, May 10th. Jefferies Financial Group raised their target price on shares of Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Wells Fargo & Company boosted their target price on shares of Commerce Bancshares from $52.00 to $62.00 and gave the stock an “equal weight” rating in a report on Monday, July 22nd. Morgan Stanley increased their price target on shares of Commerce Bancshares from $55.00 to $58.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Finally, Raymond James upgraded shares of Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 price objective on the stock in a research note on Wednesday, April 17th.

Insider Activity

In related news, CEO John W. Kemper sold 5,156 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $65.22, for a total value of $336,274.32. Following the transaction, the chief executive officer now directly owns 198,298 shares in the company, valued at $12,932,995.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Commerce Bancshares news, CEO John W. Kemper sold 26,581 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $56.77, for a total transaction of $1,509,003.37. Following the completion of the sale, the chief executive officer now directly owns 198,387 shares in the company, valued at $11,262,429.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John W. Kemper sold 5,156 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $65.22, for a total value of $336,274.32. Following the completion of the sale, the chief executive officer now directly owns 198,298 shares in the company, valued at approximately $12,932,995.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,019 shares of company stock valued at $3,395,757. 3.20% of the stock is owned by insiders.

Institutional Trading of Commerce Bancshares

Several institutional investors and hedge funds have recently modified their holdings of CBSH. Raymond James Trust N.A. acquired a new stake in shares of Commerce Bancshares in the 4th quarter valued at approximately $222,000. BKM Wealth Management LLC bought a new position in Commerce Bancshares in the 4th quarter valued at approximately $29,000. Advisor Resource Council bought a new stake in shares of Commerce Bancshares during the fourth quarter worth $258,000. Pacer Advisors Inc. increased its holdings in shares of Commerce Bancshares by 86.8% during the fourth quarter. Pacer Advisors Inc. now owns 17,846 shares of the financial services provider’s stock worth $953,000 after buying an additional 8,292 shares in the last quarter. Finally, Meyer Handelman Co. lifted its stake in shares of Commerce Bancshares by 5.0% in the 4th quarter. Meyer Handelman Co. now owns 33,309 shares of the financial services provider’s stock valued at $1,779,000 after acquiring an additional 1,585 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Commerce Bancshares Stock Down 0.1 %

Shares of CBSH stock opened at $65.00 on Tuesday. Commerce Bancshares has a 12 month low of $40.91 and a 12 month high of $65.83. The company’s fifty day simple moving average is $56.69 and its 200-day simple moving average is $54.37. The firm has a market cap of $8.42 billion, a PE ratio of 18.13 and a beta of 0.76.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $0.90 by $0.17. Commerce Bancshares had a net margin of 23.62% and a return on equity of 16.50%. The firm had revenue of $414.90 million for the quarter, compared to analysts’ expectations of $406.88 million. During the same period in the previous year, the firm posted $0.97 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities analysts predict that Commerce Bancshares will post 3.82 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Thursday, September 5th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.66%. Commerce Bancshares’s dividend payout ratio (DPR) is currently 30.12%.

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.