Analysts Set Commerce Bancshares, Inc. (NASDAQ:CBSH) Target Price at $53.17

Commerce Bancshares, Inc. (NASDAQ:CBSH) has been given a consensus rating of “Hold” by the six analysts that are presently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $55.00.

CBSH has been the topic of several research analyst reports. Morgan Stanley boosted their price objective on Commerce Bancshares from $46.00 to $55.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Keefe, Bruyette & Woods boosted their price objective on Commerce Bancshares from $56.00 to $58.00 and gave the company a “market perform” rating in a report on Wednesday. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday. Raymond James upgraded Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 price target on the stock in a report on Wednesday. Finally, Piper Sandler upped their price target on Commerce Bancshares from $53.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday.

Insiders Place Their Bets

In other Commerce Bancshares news, EVP Robert S. Holmes sold 5,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $52.66, for a total transaction of $263,300.00. Following the completion of the sale, the executive vice president now directly owns 50,293 shares of the company’s stock, valued at approximately $2,648,429.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Robert S. Holmes sold 5,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $52.66, for a total transaction of $263,300.00. Following the completion of the transaction, the executive vice president now directly owns 50,293 shares of the company’s stock, valued at approximately $2,648,429.38. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Patricia R. Kellerhals sold 730 shares of the stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $54.87, for a total value of $40,055.10. Following the transaction, the senior vice president now directly owns 25,502 shares of the company’s stock, valued at $1,399,294.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,321 shares of company stock valued at $752,387. 3.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Commerce Bancshares

Large investors have recently modified their holdings of the business. BKM Wealth Management LLC purchased a new position in Commerce Bancshares in the 4th quarter valued at approximately $29,000. Quantbot Technologies LP purchased a new position in Commerce Bancshares in the 2nd quarter valued at approximately $42,000. Creative Financial Designs Inc. ADV purchased a new position in Commerce Bancshares in the 4th quarter valued at approximately $35,000. Altshuler Shaham Ltd purchased a new position in Commerce Bancshares in the 4th quarter valued at approximately $47,000. Finally, PCA Investment Advisory Services Inc. purchased a new position in Commerce Bancshares in the 2nd quarter valued at approximately $38,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Commerce Bancshares Stock Performance

NASDAQ CBSH opened at $53.85 on Friday. The stock’s fifty day moving average is $52.07 and its two-hundred day moving average is $51.01. The firm has a market capitalization of $6.99 billion, a P/E ratio of 15.02 and a beta of 0.79. Commerce Bancshares has a fifty-two week low of $40.91 and a fifty-two week high of $56.75.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. The company had revenue of $397.80 million for the quarter, compared to analyst estimates of $389.49 million. Commerce Bancshares had a return on equity of 16.78% and a net margin of 23.33%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 earnings per share. As a group, sell-side analysts forecast that Commerce Bancshares will post 3.43 EPS for the current year.

Commerce Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Wednesday, June 5th will be given a dividend of $0.27 per share. The ex-dividend date is Wednesday, June 5th. This represents a $1.08 dividend on an annualized basis and a yield of 2.01%. Commerce Bancshares’s payout ratio is 30.12%.

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.