Commerce Bancshares, Inc. (NASDAQ:CBSH) Upgraded by BidaskClub to “Hold”
Commerce Bancshares, Inc. (NASDAQ:CBSH) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
A number of other equities analysts have also weighed in on the company. Zacks Investment Research lowered Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. Keefe, Bruyette & Woods reiterated a “sell” rating and issued a $46.00 target price on shares of Commerce Bancshares in a research report on Monday, June 12th. Jefferies Group LLC reiterated a “hold” rating and issued a $61.00 target price on shares of Commerce Bancshares in a research report on Sunday, June 11th. Morgan Stanley boosted their target price on Commerce Bancshares from $48.00 to $49.00 and gave the stock an “underweight” rating in a research report on Tuesday, June 6th. Finally, Piper Jaffray Companies decreased their target price on Commerce Bancshares from $55.00 to $52.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 19th. Three investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $54.50.
Shares of Commerce Bancshares (CBSH) traded up 0.76% on Wednesday, reaching $57.12. The company’s stock had a trading volume of 226,097 shares. Commerce Bancshares has a 12-month low of $44.27 and a 12-month high of $60.61. The company’s 50-day moving average is $55.41 and its 200 day moving average is $56.46. The company has a market capitalization of $5.80 billion, a price-to-earnings ratio of 21.37 and a beta of 0.81.
Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Thursday, April 13th. The financial services provider reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. The firm had revenue of $295.30 million during the quarter, compared to analyst estimates of $298.61 million. Commerce Bancshares had a return on equity of 11.76% and a net margin of 23.43%. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.62 earnings per share. Equities analysts anticipate that Commerce Bancshares will post $2.84 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, June 26th. Stockholders of record on Friday, June 9th were issued a $0.225 dividend. The ex-dividend date of this dividend was Wednesday, June 7th. This represents a $0.90 annualized dividend and a dividend yield of 1.58%. Commerce Bancshares’s payout ratio is 33.65%.
In other Commerce Bancshares news, insider Patricia R. Kellerhals sold 604 shares of the stock in a transaction on Wednesday, April 19th. The stock was sold at an average price of $54.50, for a total transaction of $32,918.00. Following the sale, the insider now owns 5,563 shares of the company’s stock, valued at approximately $303,183.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charles G. Kim sold 3,712 shares of the stock in a transaction on Friday, April 28th. The shares were sold at an average price of $55.31, for a total value of $205,310.72. Following the sale, the insider now directly owns 80,475 shares in the company, valued at approximately $4,451,072.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,167 shares of company stock worth $3,602,308. Company insiders own 4.30% of the company’s stock.
Several hedge funds have recently bought and sold shares of CBSH. Vanguard Group Inc. boosted its stake in Commerce Bancshares by 10.4% in the first quarter. Vanguard Group Inc. now owns 8,353,057 shares of the financial services provider’s stock worth $469,107,000 after buying an additional 785,218 shares during the last quarter. BlackRock Inc. boosted its stake in Commerce Bancshares by 5,297.5% in the first quarter. BlackRock Inc. now owns 7,509,842 shares of the financial services provider’s stock worth $421,752,000 after buying an additional 7,370,707 shares during the last quarter. FMR LLC boosted its stake in Commerce Bancshares by 4.3% in the fourth quarter. FMR LLC now owns 2,170,574 shares of the financial services provider’s stock worth $125,481,000 after buying an additional 89,912 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Commerce Bancshares by 5.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,288,663 shares of the financial services provider’s stock worth $72,371,000 after buying an additional 61,106 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in Commerce Bancshares by 41.1% in the first quarter. AQR Capital Management LLC now owns 1,233,144 shares of the financial services provider’s stock worth $69,254,000 after buying an additional 359,363 shares during the last quarter. 62.11% of the stock is owned by hedge funds and other institutional investors.
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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