Commerce Bancshares, Inc. (NASDAQ:CBSH) Receives $58.86 Average PT from Brokerages

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have been assigned a consensus rating of “Hold” from the seven brokerages that are presently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $58.86.

Several equities research analysts recently weighed in on the company. Morgan Stanley boosted their target price on Commerce Bancshares from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. Wells Fargo & Company upped their price target on Commerce Bancshares from $52.00 to $62.00 and gave the stock an “equal weight” rating in a report on Monday, July 22nd. Jefferies Financial Group upped their target price on Commerce Bancshares from $60.00 to $62.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Finally, Keefe, Bruyette & Woods boosted their price target on Commerce Bancshares from $58.00 to $60.00 and gave the company a “market perform” rating in a report on Friday, May 10th.

Insider Activity

In other news, CEO John W. Kemper sold 26,581 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $56.77, for a total value of $1,509,003.37. Following the completion of the sale, the chief executive officer now owns 198,387 shares of the company’s stock, valued at approximately $11,262,429.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Commerce Bancshares news, SVP David L. Roller sold 861 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $64.30, for a total value of $55,362.30. Following the sale, the senior vice president now directly owns 30,949 shares of the company’s stock, valued at $1,990,020.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John W. Kemper sold 26,581 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 198,387 shares of the company’s stock, valued at approximately $11,262,429.99. The disclosure for this sale can be found here. Insiders sold 47,068 shares of company stock worth $2,813,757 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

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

Commerce Bancshares Trading Up 1.3 %

Shares of CBSH opened at $65.08 on Tuesday. The firm has a market cap of $8.43 billion, a P/E ratio of 18.15 and a beta of 0.76. Commerce Bancshares has a 12-month low of $40.91 and a 12-month high of $65.83. The company’s 50-day moving average price is $56.53 and its 200 day moving average price is $54.28.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.17. Commerce Bancshares had a return on equity of 16.50% and a net margin of 23.62%. The business had revenue of $414.90 million for the quarter, compared to analyst estimates of $406.88 million. During the same quarter in the prior year, the company earned $0.97 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. Equities research analysts forecast that Commerce Bancshares will post 3.82 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Thursday, September 5th will be issued 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 is presently 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.