In yesterday’s Wall Street session, Commerce Bancshares Inc. (NASDAQ:CBSH) shares traded at $49.95, up 1.75% from the previous session.
7 analysts cover Commerce Bancshares Inc. (NASDAQ:CBSH), according to research data. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $56.00 and a low of $48.00, we find $52.50. Given the previous closing price of $49.09, this indicates a potential upside of 6.95 percent. CBSH stock price is now -1.16% away from the 50-day moving average and -14.11% away from the 200-day moving average. The market capitalization of the company currently stands at $6.12B.
The stock has received a hold rating from 6 analysts and a buy rating from 0. Brokers who have rated the stock have averaged $52.67 as their price target over the next twelve months.
With the price target reduced from $50 to $48, Morgan Stanley Downgraded its rating from Equal-Weight to Underweight for Commerce Bancshares Inc. (NASDAQ: CBSH).
In other news, BRAUER BLACKFORD F, Director bought 5,000 shares of the company’s stock on Aug 23. The stock was bought for $245,676 at an average price of $49.14. Upon completion of the transaction, the Director now directly owns 28,426 shares in the company, valued at $1.42 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 01, Senior Vice President Brooks Derrick sold 1,430 shares of the business’s stock. A total of $75,261 was realized by selling the stock at an average price of $52.63. This leaves the insider owning 8,526 shares of the company worth $0.43 million. Insiders disposed of 169,467 shares of company stock worth roughly $8.46 million over the past 1 year. A total of 2.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CBSH stock. A new stake in Commerce Bancshares Inc. shares was purchased by NFJ INVESTMENT GROUP, LLC during the first quarter worth $31,972,000. NUANCE INVESTMENTS, LLC invested $13,383,000 in shares of CBSH during the first quarter. In the first quarter, BOSTON PARTNERS acquired a new stake in Commerce Bancshares Inc. valued at approximately $3,543,000. GRAHAM CAPITAL MANAGEMENT, L.P. acquired a new stake in CBSH for approximately $3,029,000. HOLOCENE ADVISORS, LP purchased a new stake in CBSH valued at around $2,531,000 in the second quarter. In total, there are 521 active investors with 73.60% ownership of the company’s stock.
On Friday morning Commerce Bancshares Inc. (NASDAQ: CBSH) stock kicked off with the opening price of $49.46. During the past 12 months, Commerce Bancshares Inc. has had a low of $45.55 and a high of $72.60. The fifty day moving average price for CBSH is $50.61 and a two-hundred day moving average price translates $58.25 for the stock.
The latest earnings results from Commerce Bancshares Inc. (NASDAQ: CBSH) was released for Jun, 2023. According to the Banks – Regional Company, earnings per share came in at $1.02, beating analysts’ expectations of $0.94 by 0.08. This compares to $0.92 EPS in the same period last year. The net profit margin was 41.20% and return on equity was 19.60% for CBSH. The company reported revenue of $348.66 million for the quarter, compared to $238.15 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 46.4 percent. For the current quarter, analysts expect CBSH to generate $389.1M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/45/2023. Investors who held shares on 09/06/2023 were paid a $0.27 dividend. On an annualized basis, this represents a $1.08 dividend and a 2.16% percent yield. There was an ex-dividend date of 09/05/2023 for this dividend. In terms of dividend payout ratio, CBSH is presently at 19.90%.
Commerce Bancshares Inc.(CBSH) 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. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; retail branch network; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards. The Commercial segment provides corporate lending, leasing, international, merchant and commercial bank card, and securities safekeeping and bond accounting services; and business products, government deposits, and related commercial cash management services, as well as sells fixed income securities to correspondent banks, corporations, public institutions, municipalities, and individuals. The Wealth segment provides traditional trust and estate planning, advisory and discretionary investment portfolio management, and brokerage services, as well as private banking accounts. The company also offers private equity investment, securities brokerage, insurance agency, specialty lending, and leasing services, as well as online and mobile banking services. Commerce Bancshares, Inc. was founded in 1865 and is headquartered in Kansas City, Missouri.
