Brokerages Set Commerce Bancshares, Inc. (NASDAQ:CBSH) PT at $67.83

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have been given a consensus rating of “Hold” by the six analysts that are covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $67.83.

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

Insider Transactions at Commerce Bancshares

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 stock was sold at an average price of $67.76, for a total value of $914,285.68. Following the completion of the transaction, the chief financial officer now owns 86,246 shares of the company’s stock, valued at approximately $5,844,028.96. The trade was a 13.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Patricia R. Kellerhals sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $67.69, for a total transaction of $67,690.00. Following the sale, the senior vice president now directly owns 21,265 shares in the company, valued at approximately $1,439,427.85. The trade was a 4.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 81,016 shares of company stock worth $5,422,811 over the last quarter. 3.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Commerce Bancshares

Hedge funds have recently added to or reduced their stakes in the stock. Atria Wealth Solutions Inc. boosted its stake in shares of Commerce Bancshares by 1.5% in the 4th quarter. Atria Wealth Solutions Inc. now owns 11,062 shares of the financial services provider’s stock worth $689,000 after buying an additional 166 shares during the last quarter. Canopy Partners LLC boosted its position in Commerce Bancshares by 4.9% in the fourth quarter. Canopy Partners LLC now owns 3,609 shares of the financial services provider’s stock worth $225,000 after purchasing an additional 168 shares during the last quarter. Apriem Advisors boosted its position in Commerce Bancshares by 5.0% in the fourth quarter. Apriem Advisors now owns 3,827 shares of the financial services provider’s stock worth $238,000 after purchasing an additional 182 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its stake in shares of Commerce Bancshares by 4.9% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 3,908 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 183 shares during the period. Finally, Verde Capital Management increased its position in shares of Commerce Bancshares by 5.4% during the 4th quarter. Verde Capital Management now owns 3,573 shares of the financial services provider’s stock valued at $223,000 after purchasing an additional 183 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Commerce Bancshares Stock Down 2.1 %

CBSH opened at $59.57 on Wednesday. Commerce Bancshares has a 52 week low of $47.89 and a 52 week high of $72.75. The stock has a market cap of $7.98 billion, a PE ratio of 14.86, a PEG ratio of 2.13 and a beta of 0.78. The business has a 50 day moving average of $64.63 and a 200-day moving average of $64.56.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.95 by $0.06. The business had revenue of $422.10 million during 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%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 earnings per share. Equities analysts anticipate that Commerce Bancshares will post 3.94 EPS for the current year.

Commerce Bancshares Increases Dividend

The firm 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 dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.85%. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, March 7th. Commerce Bancshares’s dividend payout ratio (DPR) is currently 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.