Commerce Bancshares, Inc. (NASDAQ:CBSH) Given Consensus Rating of “Reduce” by Brokerages

Commerce Bancshares, Inc. (NASDAQ:CBSH) has been assigned an average rating of “Reduce” from the nine brokerages that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $61.7483.

A number of brokerages have recently commented on CBSH. Weiss Ratings reissued a “hold (c)” rating on shares of Commerce Bancshares in a research note on Monday, December 29th. Piper Sandler set a $62.00 price target on Commerce Bancshares and gave the company a “neutral” rating in a report on Monday, January 26th. Zacks Research cut Commerce Bancshares from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 8th. Finally, TD Cowen decreased their target price on Commerce Bancshares from $61.00 to $55.00 and set a “hold” rating for the company in a research report on Wednesday, January 7th.

Insider Activity

In other news, SVP David L. Roller sold 1,134 shares of the business’s stock in a transaction 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 transaction, the senior vice president directly owned 30,535 shares of the company’s stock, valued at approximately $1,663,546.80. The trade was a 3.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John W. Kemper sold 23,397 shares of the firm’s stock in a transaction 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 sale, the chief executive officer directly owned 206,528 shares of the company’s stock, valued at approximately $11,150,446.72. The trade was a 10.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 27,667 shares of company stock worth $1,493,323 over the last 90 days. Company insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Waterford Advisors LLC acquired a new stake in Commerce Bancshares during the 4th quarter valued at approximately $2,577,000. Invesco Ltd. boosted its stake in shares of Commerce Bancshares by 12.1% during the 4th quarter. Invesco Ltd. now owns 404,232 shares of the financial services provider’s stock valued at $21,157,000 after buying an additional 43,608 shares during the last quarter. Axxcess Wealth Management LLC boosted its stake in shares of Commerce Bancshares by 5.5% during the 4th quarter. Axxcess Wealth Management LLC now owns 13,921 shares of the financial services provider’s stock valued at $729,000 after buying an additional 727 shares during the last quarter. Corient Private Wealth LLC grew its position in shares of Commerce Bancshares by 3.5% during the fourth quarter. Corient Private Wealth LLC now owns 13,356 shares of the financial services provider’s stock worth $683,000 after buying an additional 449 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its stake in shares of Commerce Bancshares by 31.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 34,143 shares of the financial services provider’s stock worth $1,787,000 after buying an additional 8,178 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Price Performance

Commerce Bancshares stock opened at $54.03 on Wednesday. The company has a market cap of $7.15 billion, a price-to-earnings ratio of 12.89, a price-to-earnings-growth ratio of 2.71 and a beta of 0.62. Commerce Bancshares has a 12 month low of $48.69 and a 12 month high of $63.30. The stock’s 50-day moving average is $53.53 and its 200-day moving average is $54.19.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, January 22nd. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. Commerce Bancshares had a net margin of 26.51% and a return on equity of 15.51%. The firm had revenue of $449.36 million during the quarter, compared to the consensus estimate of $442.47 million. During the same quarter in the prior year, the company earned $1.01 EPS. The company’s revenue was up 6.5% on a year-over-year basis. Research analysts anticipate that Commerce Bancshares will post 3.94 EPS for the current year.

Commerce Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Friday, March 6th will be given a $0.275 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.10 annualized dividend and a yield of 2.0%. Commerce Bancshares’s dividend payout ratio (DPR) is 26.25%.

About Commerce Bancshares

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.