Commerce Bancshares, Inc. (CBSH) Receives Consensus Recommendation of “Hold” from Analysts

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.

Several institutional investors and hedge funds have recently made changes to their positions in CBSH. Dimensional Fund Advisors LP grew its holdings in shares of Commerce Bancshares by 5.0% during the second quarter. Dimensional Fund Advisors LP now owns 924,115 shares of the financial services provider’s stock valued at $52,520,000 after buying an additional 43,967 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Commerce Bancshares during the second quarter valued at $8,022,000. Cetera Investment Advisers purchased a new stake in Commerce Bancshares in the second quarter valued at $272,000. Intl Fcstone Inc. boosted its holdings in Commerce Bancshares by 120.6% in the second quarter. Intl Fcstone Inc. now owns 24,892 shares of the financial services provider’s stock valued at $1,415,000 after purchasing an additional 13,606 shares during the last quarter. Finally, Mountain Pacific Investment Advisers Inc. ID boosted its holdings in Commerce Bancshares by 4.8% in the third quarter. Mountain Pacific Investment Advisers Inc. ID now owns 288,278 shares of the financial services provider’s stock valued at $16,654,000 after purchasing an additional 13,155 shares during the last quarter. 59.77% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Commerce Bancshares (NASDAQ:CBSH)

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