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

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have been assigned an average rating of “Hold” from the five analysts that are currently covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold recommendation. The average 1-year price target among brokers that have issued a report on the stock in the last year is $53.17.

CBSH has been the subject of several recent research reports. Morgan Stanley lifted their price objective on Commerce Bancshares from $46.00 to $55.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Keefe, Bruyette & Woods lifted their price objective on Commerce Bancshares from $54.00 to $56.00 and gave the company a “market perform” rating in a research note on Friday, January 19th. Finally, Bank of America initiated coverage on Commerce Bancshares in a research note on Thursday, January 11th. They issued a “neutral” rating and a $55.00 price objective for the company.

Commerce Bancshares Price Performance

Shares of Commerce Bancshares stock opened at $52.01 on Friday. The business has a 50-day moving average of $51.92 and a 200 day moving average of $50.90. Commerce Bancshares has a 12 month low of $40.91 and a 12 month high of $56.75. The stock has a market capitalization of $6.76 billion, a price-to-earnings ratio of 14.33 and a beta of 0.79.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Tuesday, April 16th. The financial services provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. Commerce Bancshares had a return on equity of 17.46% and a net margin of 24.41%. The company had revenue of $397.80 million during the quarter, compared to analysts’ expectations of $389.49 million. During the same period last year, the business posted $0.90 EPS. Commerce Bancshares’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities research analysts anticipate that Commerce Bancshares will post 3.24 earnings per share for the current year.

Commerce Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Thursday, March 7th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Wednesday, March 6th. Commerce Bancshares’s dividend payout ratio (DPR) is presently 29.75%.

Insider Transactions at Commerce Bancshares

In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 730 shares of Commerce Bancshares stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $54.87, for a total transaction of $40,055.10. Following the transaction, the senior vice president now owns 25,502 shares of the company’s stock, valued at $1,399,294.74. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Commerce Bancshares news, SVP Douglas D. Neff sold 614 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $50.25, for a total transaction of $30,853.50. Following the transaction, the senior vice president now owns 8,038 shares of the company’s stock, valued at $403,909.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Patricia R. Kellerhals sold 730 shares of Commerce Bancshares 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 in the company, valued at approximately $1,399,294.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,321 shares of company stock valued at $752,387. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC increased its holdings in shares of Commerce Bancshares by 102,920.9% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 133,790,172 shares of the financial services provider’s stock valued at $9,107,097,000 after purchasing an additional 133,660,305 shares during the period. Norges Bank acquired a new position in shares of Commerce Bancshares in the fourth quarter valued at approximately $71,835,000. Morgan Stanley increased its holdings in shares of Commerce Bancshares by 192.6% in the fourth quarter. Morgan Stanley now owns 1,995,152 shares of the financial services provider’s stock valued at $135,810,000 after purchasing an additional 1,313,291 shares during the period. State Street Corp increased its holdings in shares of Commerce Bancshares by 18.9% in the second quarter. State Street Corp now owns 7,736,375 shares of the financial services provider’s stock valued at $376,761,000 after purchasing an additional 1,227,825 shares during the period. Finally, Boston Trust Walden Corp increased its holdings in shares of Commerce Bancshares by 147.4% in the third quarter. Boston Trust Walden Corp now owns 1,025,863 shares of the financial services provider’s stock valued at $49,221,000 after purchasing an additional 611,172 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

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.