Commerce Bancshares, Inc. (CBSH) Receives Average Rating of “Hold” from Analysts
Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have received a consensus recommendation of “Hold” from the eleven analysts that are covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $55.25.
CBSH has been the subject of a number of recent research reports. Morgan Stanley raised their price objective 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. Jefferies Group LLC reissued a “hold” rating and set a $61.00 price objective on shares of Commerce Bancshares in a research note on Sunday, June 11th. Keefe, Bruyette & Woods reissued a “sell” rating and set a $46.00 price objective on shares of Commerce Bancshares in a research note on Monday, June 12th. BidaskClub raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, Zacks Investment Research cut shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th.
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In other Commerce Bancshares news, Chairman David W. Kemper sold 10,132 shares of Commerce Bancshares stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $57.83, for a total value of $585,933.56. Following the completion of the sale, the chairman now directly owns 1,270,757 shares of the company’s stock, valued at approximately $73,487,877.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John R. Capps sold 10,000 shares of Commerce Bancshares stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $54.82, for a total transaction of $548,200.00. Following the completion of the sale, the director now directly owns 12,828 shares of the company’s stock, valued at $703,230.96. The disclosure for this sale can be found here. Insiders sold a total of 20,819 shares of company stock valued at $1,174,728 over the last ninety days. 4.30% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in CBSH. BlackRock Inc. grew its stake in Commerce Bancshares by 5,297.5% in the 1st quarter. BlackRock Inc. now owns 7,509,842 shares of the financial services provider’s stock worth $421,752,000 after acquiring an additional 7,370,707 shares during the period. Lazard Asset Management LLC purchased a new stake in Commerce Bancshares in the 1st quarter worth approximately $64,025,000. Nuance Investments LLC grew its stake in Commerce Bancshares by 814.4% in the 2nd quarter. Nuance Investments LLC now owns 955,417 shares of the financial services provider’s stock worth $54,296,000 after acquiring an additional 850,930 shares during the period. Vanguard Group Inc. grew its stake in Commerce Bancshares by 10.4% in the 1st quarter. Vanguard Group Inc. now owns 8,353,057 shares of the financial services provider’s stock worth $469,107,000 after acquiring an additional 785,218 shares during the period. Finally, AQR Capital Management LLC grew its stake in Commerce Bancshares by 41.1% in the 1st quarter. AQR Capital Management LLC now owns 1,233,144 shares of the financial services provider’s stock worth $69,254,000 after acquiring an additional 359,363 shares during the period. 62.20% of the stock is owned by hedge funds and other institutional investors.
Shares of Commerce Bancshares (NASDAQ:CBSH) traded up 0.84% on Friday, hitting $55.17. The stock had a trading volume of 1,068,133 shares. The company’s 50 day moving average is $55.53 and its 200 day moving average is $56.01. Commerce Bancshares has a one year low of $47.64 and a one year high of $60.61. The stock has a market cap of $5.61 billion, a PE ratio of 19.99 and a beta of 0.82.
Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Thursday, July 13th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.05. Commerce Bancshares had a net margin of 23.79% and a return on equity of 12.01%. The company had revenue of $305.89 million during the quarter, compared to analysts’ expectations of $309.44 million. During the same period last year, the company posted $0.70 earnings per share. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities research analysts predict that Commerce Bancshares will post $2.94 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 25th. Shareholders of record on Friday, September 8th will be paid a $0.225 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.90 annualized dividend and a yield of 1.63%. Commerce Bancshares’s payout ratio is currently 32.64%.
Commerce Bancshares Company Profile
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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