Commerce Bancshares (NASDAQ:CBSH) had its price objective increased by Barclays from $55.00 to $59.00 in a report issued on Tuesday, January 2nd, MarketBeat.com reports. They currently have an equal weight rating on the financial services provider’s stock.
A number of other brokerages also recently issued reports on CBSH. Zacks Investment Research downgraded Commerce Bancshares from a buy rating to a hold rating in a report on Monday, October 9th. Piper Jaffray Companies reissued a neutral rating and issued a $60.00 price target on shares of Commerce Bancshares in a report on Friday, October 6th. BidaskClub raised Commerce Bancshares from a strong sell rating to a sell rating in a report on Friday, December 22nd. Finally, Keefe, Bruyette & Woods reissued a sell rating and issued a $51.00 price target on shares of Commerce Bancshares in a report on Friday, September 15th. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $56.25.
Shares of Commerce Bancshares (CBSH) traded up $0.87 during midday trading on Tuesday, reaching $57.35. The company had a trading volume of 509,100 shares, compared to its average volume of 430,314. The stock has a market capitalization of $6,120.00, a price-to-earnings ratio of 21.40, a P/E/G ratio of 3.05 and a beta of 0.80. Commerce Bancshares has a 52-week low of $51.90 and a 52-week high of $60.61. 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 (NASDAQ:CBSH) last announced its quarterly earnings results on Thursday, October 12th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, missing the Zacks’ 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 during the quarter, compared to analyst estimates of $317.28 million. During the same period in the previous year, the firm posted $0.68 earnings per share. The company’s revenue was up 4.9% compared to the same quarter last year. sell-side analysts anticipate that Commerce Bancshares will post 2.76 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 18th. Stockholders of record on Thursday, November 30th were paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend was Wednesday, November 29th. Commerce Bancshares’s payout ratio is 33.58%.
In related news, insider V Raymond Stranghoener sold 6,399 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $58.40, for a total transaction of $373,701.60. Following the completion of the sale, the insider now directly owns 47,112 shares in the company, valued at $2,751,340.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Jonathan M. Kemper sold 55,000 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $55.06, for a total value of $3,028,300.00. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.
A number of large investors have recently modified their holdings of CBSH. Lazard Asset Management LLC grew its holdings in Commerce Bancshares by 27.1% in the 2nd quarter. Lazard Asset Management LLC now owns 1,448,515 shares of the financial services provider’s stock valued at $82,318,000 after buying an additional 308,460 shares in the last quarter. Schroder Investment Management Group grew its holdings in Commerce Bancshares by 53.0% in the 2nd quarter. Schroder Investment Management Group now owns 831,785 shares of the financial services provider’s stock valued at $47,686,000 after buying an additional 288,009 shares in the last quarter. Vanguard Group Inc. grew its holdings in Commerce Bancshares by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 8,599,122 shares of the financial services provider’s stock valued at $488,688,000 after buying an additional 246,065 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in Commerce Bancshares in the 2nd quarter valued at $8,022,000. Finally, State of Tennessee Treasury Department grew its holdings in Commerce Bancshares by 366.7% in the 3rd quarter. State of Tennessee Treasury Department now owns 140,000 shares of the financial services provider’s stock valued at $8,088,000 after buying an additional 110,000 shares in the last quarter. Institutional investors own 59.14% of the company’s stock.
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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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