Commerce Bancshares, Inc. (CBSH) Receives Average Rating of “Hold” from Brokerages

Commerce Bancshares, Inc. (NASDAQ:CBSH) has received an average recommendation of “Hold” from the eleven analysts that are covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $55.43.

A number of research firms have recently commented on CBSH. Zacks Investment Research cut shares of Commerce Bancshares from a “buy” rating to a “hold” rating in a report on Monday, September 18th. Jefferies Group reiterated a “hold” rating and set a $61.00 price target on shares of Commerce Bancshares in a report on Friday, August 11th. Raymond James Financial reiterated an “underperform” rating on shares of Commerce Bancshares in a report on Thursday, August 10th. UBS cut shares of Commerce Bancshares to an “underperform” rating in a report on Thursday, August 10th. Finally, Piper Jaffray Companies restated a “neutral” rating and issued a $60.00 target price on shares of Commerce Bancshares in a report on Friday, October 6th.

In other Commerce Bancshares news, insider V Raymond Stranghoener sold 6,399 shares of the stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $58.40, for a total value of $373,701.60. Following the transaction, the insider now directly owns 47,112 shares in the company, valued at $2,751,340.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.30% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Captrust Financial Advisors bought a new stake in Commerce Bancshares in the 2nd quarter valued at $106,000. Citizens Financial Group Inc RI increased its holdings in Commerce Bancshares by 25.5% in the 2nd quarter. Citizens Financial Group Inc RI now owns 2,650 shares of the financial services provider’s stock valued at $151,000 after acquiring an additional 539 shares during the last quarter. Mosaic Family Wealth LLC increased its holdings in Commerce Bancshares by 5.8% in the 2nd quarter. Mosaic Family Wealth LLC now owns 3,297 shares of the financial services provider’s stock valued at $187,000 after acquiring an additional 181 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Commerce Bancshares by 8.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,339 shares of the financial services provider’s stock worth $190,000 after buying an additional 264 shares in the last quarter. Finally, SignalPoint Asset Management LLC purchased a new position in shares of Commerce Bancshares in the 3rd quarter worth $226,000. Institutional investors and hedge funds own 69.05% of the company’s stock.

Shares of Commerce Bancshares (CBSH) traded down $0.51 on Friday, reaching $56.62. 311,600 shares of the company’s stock were exchanged, compared to its average volume of 392,731. The stock has a market capitalization of $5,928.24, a PE ratio of 20.68, a PEG ratio of 3.24 and a beta of 0.80. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.04. Commerce Bancshares has a twelve month low of $51.90 and a twelve month high of $60.61.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Thursday, October 12th. The financial services provider reported $0.71 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.03). The business had revenue of $304.83 million during the quarter, compared to analysts’ expectations of $317.28 million. Commerce Bancshares had a return on equity of 12.08% and a net margin of 23.93%. Commerce Bancshares’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.68 EPS. sell-side analysts forecast that Commerce Bancshares will post 2.9 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 18th. Investors of record on Thursday, November 30th will be issued a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Wednesday, November 29th. Commerce Bancshares’s dividend payout ratio is currently 31.91%.

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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.

Analyst Recommendations for Commerce Bancshares (NASDAQ:CBSH)

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