Commerce Bancshares (NASDAQ:CBSH) Stock Price Breaks Below 50-Day Moving Average – Time to Sell?

Commerce Bancshares, Inc. (NASDAQ:CBSH) shares passed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $56.02 and traded as low as $55.36. Commerce Bancshares shares last traded at $55.89, with a volume of 823,111 shares.

Analysts Set New Price Targets

Several research firms have recently weighed in on CBSH. Morgan Stanley boosted their target price on Commerce Bancshares from $76.00 to $77.00 and gave the company an “overweight” rating in a report on Monday, September 28th. Piper Sandler set a $60.50 price target on Commerce Bancshares and gave the stock a “neutral” rating in a research note on Wednesday, October 21st. Raymond James Financial upgraded Commerce Bancshares to a “hold” rating in a research note on Thursday, August 27th. Weiss Ratings raised Commerce Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 16th. Finally, Stephens set a $62.00 price objective on Commerce Bancshares and gave the company an “equal weight” rating in a research note on Wednesday, October 21st. Three research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $63.50.

Commerce Bancshares Trading Down 0.2%

The stock has a market cap of $7.91 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 2.35 and a beta of 0.61. The stock’s 50 day moving average is $56.02 and its two-hundred day moving average is $54.50.

Commerce Bancshares’s stock is scheduled to split on Tuesday, December 1st. The 1.05-1 split was recently announced. The newly issued shares will be distributed to shareholders after the market closes on Monday, November 30th.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Tuesday, October 20th. The financial services provider reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.01. Commerce Bancshares had a net margin of 26.06% and a return on equity of 14.27%. The company had revenue of $494.34 million for the quarter, compared to analyst estimates of $496.75 million. During the same period in the previous year, the business posted $1.06 earnings per share. On average, sell-side analysts predict that Commerce Bancshares, Inc. will post 4.27 EPS for the current year.

Commerce Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Investors of record on Tuesday, December 1st will be issued a dividend of $0.2750 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.0%. Commerce Bancshares’s dividend payout ratio (DPR) is currently 26.51%.

Insider Activity

In other Commerce Bancshares news, VP David L. Orf sold 642 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $60.35, for a total transaction of $38,744.70. Following the completion of the sale, the vice president directly owned 24,962 shares of the company’s stock, valued at approximately $1,506,456.70. This trade represents a 2.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Douglas D. Neff sold 666 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $58.15, for a total value of $38,727.90. Following the sale, the senior vice president directly owned 11,746 shares of the company’s stock, valued at $683,029.90. The trade was a 5.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Commerce Bancshares

Hedge funds have recently modified their holdings of the stock. Keating Financial Advisory Services Inc. acquired a new stake in shares of Commerce Bancshares during the second quarter worth $29,000. Versant Capital Management Inc increased its stake in Commerce Bancshares by 146.6% in the 3rd quarter. Versant Capital Management Inc now owns 508 shares of the financial services provider’s stock valued at $28,000 after buying an additional 302 shares during the period. Laurel Wealth Advisors LLC acquired a new position in Commerce Bancshares in the 3rd quarter valued at $35,000. Provenance Wealth Advisors LLC acquired a new position in Commerce Bancshares in the 3rd quarter valued at $56,000. Finally, Continuum Advisory LLC purchased a new position in Commerce Bancshares during the 2nd quarter worth $64,000. 70.26% of the stock is owned by institutional investors and hedge funds.

About Commerce Bancshares

Commerce Bancshares, Inc. is a bank holding company headquartered in Kansas City, Missouri. Founded in 1865, it provides banking and financial services through its principal subsidiary, Commerce Bank. The company serves consumers, businesses, institutions and public-sector organizations. Its services include checking and savings accounts, lending, mortgage banking, treasury management, payment processing, and wealth management and trust services. Commerce Bank operates across several Midwestern and neighboring states, including Missouri, Kansas, Illinois, Oklahoma and Colorado.