Commerce Bancshares Receives Average Recommendation of “Buy” from Analysts (NASDAQ:CBSH)
Shares of Commerce Bancshares (NASDAQ:CBSH) have been given an average recommendation of “Buy” by the nine analysts that are currently covering the company, AnalystRatingsNetwork reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $47.31.
Shares of Commerce Bancshares (NASDAQ:CBSH) traded down 0.48% on Thursday, hitting $45.92. 87,490 shares of the company’s stock traded hands. Commerce Bancshares has a 1-year low of $40.0381 and a 1-year high of $47.65. The stock has a 50-day moving average of $45.57 and a 200-day moving average of $44.88. The company has a market cap of $4.208 billion and a P/E ratio of 16.72.
Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Tuesday, July 15th. The company reported $0.70 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.68 by $0.02. During the same quarter last year, the company posted $0.69 earnings per share. On average, analysts predict that Commerce Bancshares will post $2.81 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, September 25th. Investors of record on Friday, September 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 1.95%. The ex-dividend date of this dividend is Wednesday, September 3rd.
In other Commerce Bancshares news, Chairman Jonathan M. Kemper sold 50,000 shares of the company’s stock on the open market in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $46.08, for a total transaction of $2,304,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on CBSH. Analysts at Zacks reiterated a “neutral” rating on shares of Commerce Bancshares in a research note on Wednesday. They now have a $48.50 price target on the stock. Separately, analysts at Macquarie reiterated a “neutral” rating on shares of Commerce Bancshares in a research note on Wednesday, July 16th. They now have a $45.00 price target on the stock, up previously from $42.00. Finally, analysts at DA Davidson raised their price target on shares of Commerce Bancshares from $52.00 to $54.00 in a research note on Wednesday, July 16th. They now have a “buy” rating on the stock.
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).
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