Commerce Bancshares Stock Rating Reaffirmed by Zacks (CBSH)
Commerce Bancshares (NASDAQ:CBSH)‘s stock had its “neutral” rating restated by Zacks in a research note issued on Friday. They currently have a $46.00 price target on the stock. Zacks‘s price objective would indicate a potential upside of 5.58% from the stock’s previous close.
Zacks’ analyst wrote, “Commerce Bancshares’ first-quarter 2014 earnings marginally lagged the Zacks Consensus Estimate. While higher operating expense as well as provision for loan losses was the headwind of the quarter, the negative impact of the same was partially offset by improved revenues. Moreover, growth in loans and deposits, healthy capital and profitability ratios were the positives. Credit quality was a mixed bag. We believe the company is well positioned to enhance capital deployment activities as well as pursue both organic and inorganic growth backed by a sound capital base and solid liquidity level. However, a still low interest rate environment, mounting expenses, sluggish economic recovery and stringent regulatory requirements will likely mar the company’s financials in the near term.”
Commerce Bancshares (NASDAQ:CBSH) traded up 0.05% on Friday, hitting $43.59. The stock had a trading volume of 63,272 shares. Commerce Bancshares has a one year low of $40.0381 and a one year high of $47.45. The stock’s 50-day moving average is $43.44 and its 200-day moving average is $44.42. The company has a market cap of $4.149 billion and a P/E ratio of 15.86.
Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Thursday, April 10th. The company reported $0.67 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.68 by $0.01. During the same quarter in the prior year, the company posted $0.67 earnings per share. Analysts expect that Commerce Bancshares will post $2.75 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, June 23rd. Shareholders of record on Thursday, June 5th will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Tuesday, June 3rd.
Other equities research analysts have also recently issued reports about the stock. Analysts at Drexel Hamilton initiated coverage on shares of Commerce Bancshares in a research note on Thursday, May 8th. They set a “buy” rating on the stock. Separately, analysts at Macquarie cut their price target on shares of Commerce Bancshares from $44.00 to $42.00 in a research note on Friday, April 11th. Finally, analysts at Bank of America reiterated a “neutral” rating on shares of Commerce Bancshares in a research note on Friday, April 11th. They now have a $46.00 price target on the stock, down previously from $47.00. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $44.71.
Commerce Bancshares, Inc is a bank holding company. Through a wholly owned bank holding company, it owns all of the outstanding capital stock of Commerce Bank (NASDAQ:CBSH).
To view Zacks’ full report, visit Zacks’ official website.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.