Analysts Set Commerce Bancshares, Inc. (NASDAQ:CBSH) Target Price at $61.79

Commerce Bancshares, Inc. (NASDAQ:CBSH) has received a consensus rating of “Hold” from the seven research firms that are presently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $61.79.

A number of analysts have recently issued reports on CBSH shares. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Wells Fargo & Company lifted their target price on shares of Commerce Bancshares from $52.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Monday, July 22nd. Piper Sandler set a $68.50 price target on Commerce Bancshares and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Morgan Stanley lowered Commerce Bancshares from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $66.00 to $64.00 in a report on Monday, September 30th.

Commerce Bancshares Price Performance

Commerce Bancshares stock opened at $69.96 on Thursday. Commerce Bancshares has a one year low of $42.48 and a one year high of $70.02. The business’s fifty day moving average is $61.21 and its 200 day moving average is $58.92. The stock has a market capitalization of $9.02 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 3.09 and a beta of 0.73.

Commerce Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be paid a $0.27 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $1.08 annualized dividend and a dividend yield of 1.54%. Commerce Bancshares’s dividend payout ratio (DPR) is 28.13%.

Insider Buying and Selling

In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 1,500 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $60.82, for a total value of $91,230.00. Following the completion of the sale, the senior vice president now owns 25,381 shares in the company, valued at $1,543,672.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP John K. Handy sold 1,331 shares of Commerce Bancshares stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $63.80, for a total transaction of $84,917.80. Following the transaction, the executive vice president now owns 41,548 shares in the company, valued at approximately $2,650,762.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Patricia R. Kellerhals sold 1,500 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $60.82, for a total value of $91,230.00. Following the completion of the sale, the senior vice president now owns 25,381 shares of the company’s stock, valued at $1,543,672.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,831 shares of company stock valued at $2,154,008. 3.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Commerce Bancshares

Hedge funds have recently made changes to their positions in the business. V Square Quantitative Management LLC purchased a new position in Commerce Bancshares in the 3rd quarter worth approximately $26,000. Allworth Financial LP raised its position in shares of Commerce Bancshares by 51.1% during the third quarter. Allworth Financial LP now owns 568 shares of the financial services provider’s stock valued at $34,000 after buying an additional 192 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Commerce Bancshares in the third quarter worth $39,000. Bessemer Group Inc. grew its stake in Commerce Bancshares by 86.3% during the first quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 390 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Commerce Bancshares by 156.5% in the 2nd quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 521 shares during the last quarter. Institutional investors 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.