Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have been given an average recommendation of “Hold” by the eleven brokerages that are covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $55.43.
Several equities analysts have recently weighed in on CBSH shares. Zacks Investment Research upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, July 10th. Barclays PLC set a $58.00 price target on Commerce Bancshares and gave the company a “hold” rating in a report on Sunday, July 16th. Keefe, Bruyette & Woods restated a “sell” rating and set a $51.00 price target on shares of Commerce Bancshares in a report on Friday, September 15th. UBS AG downgraded Commerce Bancshares to an “underperform” rating in a report on Thursday, August 10th. Finally, Piper Jaffray Companies restated a “neutral” rating and set a $60.00 price target on shares of Commerce Bancshares in a report on Friday, October 6th.
Commerce Bancshares (CBSH) traded down 0.91% during mid-day trading on Thursday, hitting $56.48. 296,079 shares of the stock traded hands. The firm has a market cap of $5.74 billion, a P/E ratio of 20.01 and a beta of 0.83. Commerce Bancshares has a 52-week low of $47.94 and a 52-week high of $60.61. The firm’s 50-day moving average is $56.05 and its 200 day moving average is $55.99.
Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Thursday, October 12th. The financial services provider reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). Commerce Bancshares had a net margin of 23.93% and a return on equity of 12.08%. The company had revenue of $304.83 million for the quarter, compared to the consensus estimate of $317.28 million. During the same quarter in the previous year, the business earned $0.68 earnings per share. Commerce Bancshares’s revenue was up 4.9% compared to the same quarter last year. Equities analysts predict that Commerce Bancshares will post $2.90 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 25th. Investors of record on Friday, September 8th were issued a $0.225 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $0.90 annualized dividend and a yield of 1.59%. Commerce Bancshares’s payout ratio is 31.91%.
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In related news, Director John R. Capps sold 10,000 shares of Commerce Bancshares stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $54.82, for a total value of $548,200.00. Following the completion of the sale, the director now directly owns 12,828 shares in the company, valued at approximately $703,230.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman David W. Kemper sold 10,132 shares of Commerce Bancshares stock in a transaction dated Friday, July 21st. The stock was 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 owns 1,270,757 shares of the company’s stock, valued at $73,487,877.31. 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 quarter. 4.30% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its holdings in Commerce Bancshares by 14.9% in the 1st quarter. Victory Capital Management Inc. now owns 24,648 shares of the financial services provider’s stock worth $1,384,000 after buying an additional 3,190 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Commerce Bancshares by 1.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 468,110 shares of the financial services provider’s stock worth $26,603,000 after buying an additional 8,179 shares in the last quarter. Prudential Financial Inc. increased its holdings in Commerce Bancshares by 3.5% in the 1st quarter. Prudential Financial Inc. now owns 65,062 shares of the financial services provider’s stock worth $3,654,000 after buying an additional 2,200 shares in the last quarter. Legal & General Group Plc increased its holdings in Commerce Bancshares by 1.6% in the 2nd quarter. Legal & General Group Plc now owns 404,973 shares of the financial services provider’s stock worth $23,016,000 after buying an additional 6,542 shares in the last quarter. Finally, Financial Counselors Inc. increased its holdings in Commerce Bancshares by 54.6% in the 2nd quarter. Financial Counselors Inc. now owns 211,361 shares of the financial services provider’s stock worth $12,012,000 after buying an additional 74,613 shares in the last quarter. Institutional investors own 62.20% of the company’s stock.
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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