Commerce Bancshares, Inc. (NASDAQ:CBSH) Given Average Recommendation of “Reduce” by Analysts

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have been given a consensus rating of “Reduce” by the nine brokerages that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $61.7483.

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Commerce Bancshares in a research report on Monday, December 29th. TD Cowen dropped their price objective on Commerce Bancshares from $61.00 to $55.00 and set a “hold” rating for the company in a report on Wednesday, January 7th. Zacks Research lowered Commerce Bancshares from a “hold” rating to a “strong sell” rating in a report on Thursday, January 8th. Finally, Piper Sandler set a $62.00 price target on Commerce Bancshares and gave the stock a “neutral” rating in a research report on Monday, January 26th.

Commerce Bancshares Stock Performance

Shares of Commerce Bancshares stock opened at $52.20 on Wednesday. The firm has a 50-day moving average of $53.49 and a 200-day moving average of $54.12. The stock has a market cap of $6.91 billion, a PE ratio of 12.46, a PEG ratio of 2.62 and a beta of 0.62. Commerce Bancshares has a 52-week low of $48.69 and a 52-week high of $63.30.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. The business had revenue of $449.36 million for the quarter, compared to analyst estimates of $442.47 million. Commerce Bancshares had a net margin of 26.51% and a return on equity of 15.51%. Commerce Bancshares’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the firm earned $1.01 earnings per share. Equities research analysts predict that Commerce Bancshares will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Friday, March 6th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, March 6th. Commerce Bancshares’s dividend payout ratio (DPR) is currently 26.25%.

Insider Transactions at Commerce Bancshares

In related news, SVP David L. Roller sold 1,134 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $54.48, for a total transaction of $61,780.32. Following the sale, the senior vice president owned 30,535 shares in the company, valued at approximately $1,663,546.80. This trade represents a 3.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John W. Kemper sold 23,397 shares of Commerce Bancshares stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $53.99, for a total transaction of $1,263,204.03. Following the completion of the transaction, the chief executive officer directly owned 206,528 shares in the company, valued at $11,150,446.72. This trade represents a 10.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 27,667 shares of company stock valued at $1,493,323. Company insiders own 3.10% of the company’s stock.

Institutional Trading of Commerce Bancshares

Large investors have recently bought and sold shares of the business. Apriem Advisors raised its stake in Commerce Bancshares by 5.0% during the fourth quarter. Apriem Advisors now owns 4,018 shares of the financial services provider’s stock worth $210,000 after acquiring an additional 191 shares in the last quarter. Heartland Bank & Trust Co grew its holdings in shares of Commerce Bancshares by 4.4% during the 4th quarter. Heartland Bank & Trust Co now owns 4,595 shares of the financial services provider’s stock valued at $240,000 after purchasing an additional 192 shares during the last quarter. Profund Advisors LLC increased its position in Commerce Bancshares by 4.4% during the 3rd quarter. Profund Advisors LLC now owns 4,682 shares of the financial services provider’s stock worth $280,000 after purchasing an additional 197 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Commerce Bancshares by 0.8% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 25,004 shares of the financial services provider’s stock valued at $1,494,000 after purchasing an additional 200 shares during the last quarter. Finally, Outlook Wealth Advisors LLC boosted its position in Commerce Bancshares by 3.7% in the fourth quarter. Outlook Wealth Advisors LLC now owns 5,934 shares of the financial services provider’s stock valued at $311,000 after buying an additional 214 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.