Brokerages Set Commerce Bancshares, Inc. (NASDAQ:CBSH) PT at $62.18

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have been assigned a consensus recommendation of “Hold” from the eleven brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $62.1769.

Several brokerages have recently weighed in on CBSH. Wall Street Zen lowered shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Piper Sandler reduced their target price on shares of Commerce Bancshares from $66.67 to $60.00 and set a “neutral” rating for the company in a report on Friday, October 17th. Zacks Research lowered shares of Commerce Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 27th. TD Cowen assumed coverage on shares of Commerce Bancshares in a report on Thursday, September 25th. They issued a “hold” rating and a $60.00 price target on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Commerce Bancshares in a report on Monday, December 1st.

Commerce Bancshares Stock Down 0.8%

CBSH opened at $52.24 on Friday. Commerce Bancshares has a 12-month low of $48.69 and a 12-month high of $66.13. The business has a 50 day moving average of $52.22 and a 200-day moving average of $56.61. The stock has a market cap of $6.92 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 4.75 and a beta of 0.62.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.03). Commerce Bancshares had a net margin of 26.48% and a return on equity of 15.73%. The business had revenue of $448.85 million during the quarter, compared to the consensus estimate of $447.04 million. During the same quarter last year, the company posted $1.02 EPS. The firm’s revenue was up 4.7% on a year-over-year basis. As a group, analysts expect that Commerce Bancshares will post 3.94 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Tuesday, December 2nd will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, December 2nd. Commerce Bancshares’s dividend payout ratio (DPR) is presently 26.25%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Danske Bank A S acquired a new stake in shares of Commerce Bancshares in the third quarter valued at $25,000. Smartleaf Asset Management LLC lifted its stake in Commerce Bancshares by 191.0% during the 1st quarter. Smartleaf Asset Management LLC now owns 451 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 296 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in Commerce Bancshares by 85.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 216 shares during the period. Quent Capital LLC purchased a new position in Commerce Bancshares during the 3rd quarter valued at about $31,000. Finally, CoreFirst Bank & Trust acquired a new position in Commerce Bancshares in the 2nd quarter valued at about $33,000. Institutional investors own 70.26% of the company’s stock.

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.