Commerce Bancshares (NASDAQ:CBSH) Price Target Raised to $54.00

Commerce Bancshares (NASDAQ:CBSH) had its target price lifted by Piper Sandler from $53.00 to $54.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

A number of other brokerages also recently weighed in on CBSH. Keefe, Bruyette & Woods boosted their price target on Commerce Bancshares from $56.00 to $58.00 and gave the stock a market perform rating in a research report on Wednesday. Bank of America started coverage on Commerce Bancshares in a research report on Thursday, January 11th. They issued a neutral rating and a $55.00 target price on the stock. Morgan Stanley upped their target price on Commerce Bancshares from $46.00 to $55.00 and gave the company an equal weight rating in a research report on Wednesday, February 7th. Finally, Raymond James raised Commerce Bancshares from a market perform rating to an outperform rating and set a $61.00 target price on the stock in a research report on Wednesday. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and an average target price of $55.00.

Commerce Bancshares Stock Up 1.4 %

Shares of NASDAQ CBSH opened at $53.85 on Wednesday. The business’s 50 day moving average price is $52.07 and its two-hundred day moving average price is $50.98. The company has a market cap of $6.99 billion, a PE ratio of 15.02 and a beta of 0.79. Commerce Bancshares has a twelve month low of $40.91 and a twelve month high of $56.75.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. The firm had revenue of $397.80 million for the quarter, compared to the consensus estimate of $389.49 million. Commerce Bancshares had a return on equity of 16.78% and a net margin of 23.33%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.90 earnings per share. As a group, research analysts anticipate that Commerce Bancshares will post 3.39 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Wednesday, June 5th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Wednesday, June 5th. Commerce Bancshares’s dividend payout ratio (DPR) is currently 30.12%.

Insider Activity at Commerce Bancshares

In other Commerce Bancshares news, Director Benjamin F. Rassieur III sold 1,785 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $53.83, for a total transaction of $96,086.55. Following the completion of the sale, the director now directly owns 33,567 shares in the company, valued at $1,806,911.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Commerce Bancshares news, Director Benjamin F. Rassieur III sold 1,785 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $53.83, for a total transaction of $96,086.55. Following the completion of the sale, the director now directly owns 33,567 shares in the company, valued at $1,806,911.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP David L. Roller sold 1,392 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $50.62, for a total value of $70,463.04. Following the sale, the senior vice president now owns 30,949 shares of the company’s stock, valued at $1,566,638.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,321 shares of company stock worth $752,387. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. First Republic Investment Management Inc. lifted its stake in shares of Commerce Bancshares by 0.3% in the 2nd quarter. First Republic Investment Management Inc. now owns 53,245 shares of the financial services provider’s stock valued at $3,496,000 after acquiring an additional 138 shares during the last quarter. Cetera Advisors LLC lifted its stake in shares of Commerce Bancshares by 3.6% in the 4th quarter. Cetera Advisors LLC now owns 5,099 shares of the financial services provider’s stock valued at $347,000 after acquiring an additional 179 shares during the last quarter. Capital Advisors Inc. OK lifted its stake in shares of Commerce Bancshares by 5.0% in the 4th quarter. Capital Advisors Inc. OK now owns 4,431 shares of the financial services provider’s stock valued at $237,000 after acquiring an additional 210 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Commerce Bancshares by 14.4% in the 4th quarter. Signaturefd LLC now owns 1,694 shares of the financial services provider’s stock valued at $90,000 after acquiring an additional 213 shares during the last quarter. Finally, Angeles Investment Advisors LLC lifted its stake in shares of Commerce Bancshares by 5.0% in the 4th quarter. Angeles Investment Advisors LLC now owns 4,557 shares of the financial services provider’s stock valued at $243,000 after acquiring an additional 217 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

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.