Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have been assigned an average recommendation of “Hold” from the eleven brokerages that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $55.43.
A number of brokerages have commented on CBSH. Zacks Investment Research raised Commerce Bancshares from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a report on Tuesday, September 5th. Raymond James Financial reissued an “underperform” rating on shares of Commerce Bancshares in a report on Thursday, August 10th. Keefe, Bruyette & Woods reissued a “sell” rating and set a $51.00 target price on shares of Commerce Bancshares in a report on Friday, September 15th. Jefferies Group reissued a “hold” rating and set a $61.00 target price on shares of Commerce Bancshares in a report on Friday, August 11th. Finally, UBS cut Commerce Bancshares to an “underperform” rating in a report on Thursday, August 10th.
Shares of Commerce Bancshares (NASDAQ CBSH) traded up $0.50 during trading on Friday, hitting $57.15. The company’s stock had a trading volume of 402,364 shares, compared to its average volume of 392,558. Commerce Bancshares has a fifty-two week low of $51.90 and a fifty-two week high of $60.61. The firm has a market capitalization of $6,045.37, a PE ratio of 21.09, a P/E/G ratio of 3.30 and a beta of 0.80. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.04.
Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, October 12th. The financial services provider reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Commerce Bancshares had a net margin of 23.93% and a return on equity of 12.08%. The firm had revenue of $304.83 million for the quarter, compared to analyst estimates of $317.28 million. During the same period in the previous year, the company earned $0.68 EPS. Commerce Bancshares’s revenue was up 4.9% compared to the same quarter last year. equities analysts forecast that Commerce Bancshares will post 2.77 EPS for the current fiscal year.
The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.90 annualized dividend and a dividend yield of 1.57%. Commerce Bancshares’s dividend payout ratio is presently 33.51%.
In related news, insider V Raymond Stranghoener sold 6,399 shares of the stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $58.40, for a total value of $373,701.60. Following the completion of the sale, the insider now owns 47,112 shares of the company’s stock, valued at $2,751,340.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.30% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of CBSH. Renaissance Technologies LLC acquired a new stake in shares of Commerce Bancshares in the first quarter valued at approximately $3,801,000. Russell Investments Group Ltd. grew its position in Commerce Bancshares by 617.1% in the second quarter. Russell Investments Group Ltd. now owns 237,411 shares of the financial services provider’s stock worth $13,492,000 after acquiring an additional 204,306 shares during the period. ING Groep NV purchased a new position in Commerce Bancshares in the second quarter worth approximately $604,000. Public Employees Retirement Association of Colorado grew its position in Commerce Bancshares by 0.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 12,520 shares of the financial services provider’s stock worth $712,000 after acquiring an additional 42 shares during the period. Finally, Janney Montgomery Scott LLC grew its position in Commerce Bancshares by 13.7% in the second quarter. Janney Montgomery Scott LLC now owns 5,471 shares of the financial services provider’s stock worth $311,000 after acquiring an additional 660 shares during the period. 62.11% of the stock is owned by hedge funds and other institutional investors.
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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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