Commerce Bancshares, Inc. (CBSH) Rating Increased to Hold at BidaskClub
Commerce Bancshares, Inc. (NASDAQ:CBSH) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
Several other equities research analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods reaffirmed a “sell” rating and set a $46.00 price target on shares of Commerce Bancshares in a research note on Monday, June 12th. Jefferies Group LLC reaffirmed a “hold” rating and set a $61.00 price target on shares of Commerce Bancshares in a research note on Sunday, June 11th. Morgan Stanley raised their price target on shares of Commerce Bancshares from $48.00 to $49.00 and gave the stock an “underweight” rating in a research note on Tuesday, June 6th. Piper Jaffray Companies decreased their price target on shares of Commerce Bancshares from $55.00 to $52.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 19th. Finally, Barclays PLC raised their price target on shares of Commerce Bancshares from $54.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 19th. Two investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $54.50.
Commerce Bancshares (NASDAQ:CBSH) traded down 0.09% during trading on Tuesday, reaching $56.99. 1,626,210 shares of the company’s stock traded hands. The firm has a 50 day moving average of $55.22 and a 200 day moving average of $56.48. Commerce Bancshares has a 1-year low of $42.44 and a 1-year high of $60.61. The firm has a market capitalization of $5.79 billion, a PE ratio of 21.32 and a beta of 0.78.
Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, April 13th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.03. Commerce Bancshares had a net margin of 23.43% and a return on equity of 11.76%. The company had revenue of $295.30 million for the quarter, compared to analysts’ expectations of $298.61 million. During the same period last year, the company earned $0.62 EPS. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities analysts forecast that Commerce Bancshares will post $2.84 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 26th. Shareholders of record on Friday, June 9th will be paid a dividend of $0.225 per share. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $0.90 annualized dividend and a dividend yield of 1.58%. Commerce Bancshares’s dividend payout ratio is currently 33.65%.
In related news, insider V Raymond Stranghoener sold 4,182 shares of the firm’s stock in a transaction that occurred on Tuesday, April 25th. The shares were sold at an average price of $56.22, for a total value of $235,112.04. Following the sale, the insider now directly owns 47,112 shares of the company’s stock, valued at $2,648,636.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charles G. Kim sold 3,712 shares of the firm’s stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $55.31, for a total transaction of $205,310.72. Following the completion of the sale, the insider now directly owns 80,475 shares in the company, valued at $4,451,072.25. The disclosure for this sale can be found here. Insiders have sold a total of 66,167 shares of company stock worth $3,602,308 over the last ninety days. 4.30% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new stake in Commerce Bancshares during the fourth quarter valued at about $5,845,000. BP PLC bought a new stake in Commerce Bancshares during the fourth quarter valued at about $694,000. Calamos Advisors LLC boosted its stake in Commerce Bancshares by 5.0% in the fourth quarter. Calamos Advisors LLC now owns 4,509 shares of the financial services provider’s stock valued at $261,000 after buying an additional 214 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Commerce Bancshares by 5.3% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 148,811 shares of the financial services provider’s stock valued at $8,603,000 after buying an additional 7,469 shares in the last quarter. Finally, Comerica Bank boosted its stake in Commerce Bancshares by 31.8% in the fourth quarter. Comerica Bank now owns 90,191 shares of the financial services provider’s stock valued at $5,224,000 after buying an additional 21,745 shares in the last quarter. 62.11% of the stock is currently owned by institutional investors and hedge funds.
About Commerce Bancshares
Commerce Bancshares, Inc is a bank holding company of Commerce Bank (the Bank). The Bank is engaged in general banking business, providing a range of retail, mortgage banking, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.
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