Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have received a consensus recommendation of “Hold” from the eleven research firms that are covering the stock, MarketBeat reports. Four research analysts have rated the stock with a sell rating and seven have issued a hold rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $56.29.
Several research firms have issued reports on CBSH. Barclays reaffirmed a “hold” rating and issued a $63.00 price target on shares of Commerce Bancshares in a report on Sunday, January 21st. Keefe, Bruyette & Woods reaffirmed a “sell” rating and issued a $54.00 price target on shares of Commerce Bancshares in a report on Friday, January 19th. BidaskClub lowered shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, January 30th. Finally, Zacks Investment Research lowered shares of Commerce Bancshares from a “buy” rating to a “hold” rating in a report on Tuesday.
In other news, insider Michael J. Petrie sold 1,709 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $58.76, for a total transaction of $100,420.84. Following the sale, the insider now directly owns 12,359 shares of the company’s stock, valued at $726,214.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John W. Kemper sold 78,359 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $57.45, for a total transaction of $4,501,724.55. Following the sale, the insider now directly owns 1,284,021 shares in the company, valued at $73,767,006.45. The disclosure for this sale can be found here. Insiders have sold 171,298 shares of company stock worth $9,758,949 over the last three months. Corporate insiders own 4.30% of the company’s stock.
Commerce Bancshares (NASDAQ CBSH) opened at $57.52 on Wednesday. Commerce Bancshares has a 1-year low of $51.90 and a 1-year high of $60.61. The stock has a market cap of $6,140.00, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 2.14 and a beta of 0.77.
Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.03. Commerce Bancshares had a net margin of 25.27% and a return on equity of 12.22%. The business had revenue of $314.22 million for the quarter, compared to analyst estimates of $312.98 million. analysts predict that Commerce Bancshares will post 3.36 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 26th. Stockholders of record on Friday, March 9th will be issued a dividend of $0.235 per share. The ex-dividend date is Thursday, March 8th. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.23. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.63%. Commerce Bancshares’s payout ratio is 31.14%.
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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.
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