Piper Jaffray Companies reissued their hold rating on shares of Commerce Bancshares (NASDAQ:CBSH) in a research note released on Tuesday, January 9th. Piper Jaffray Companies currently has a $58.00 price objective on the financial services provider’s stock.
Other research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Commerce Bancshares from a buy rating to a hold rating in a report on Monday, September 18th. BidaskClub upgraded shares of Commerce Bancshares from a sell rating to a hold rating in a research note on Thursday, December 28th. Barclays reiterated a hold rating and issued a $55.00 target price on shares of Commerce Bancshares in a research note on Sunday, December 24th. Finally, Keefe, Bruyette & Woods reiterated a sell rating and issued a $51.00 target price on shares of Commerce Bancshares in a research note on Friday, September 15th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $57.13.
Commerce Bancshares (CBSH) traded down $0.25 during trading on Tuesday, hitting $58.77. 470,125 shares of the stock were exchanged, compared to its average volume of 453,211. The company has a market cap of $6,265.76, a P/E ratio of 21.15, a P/E/G ratio of 2.19 and a beta of 0.77. Commerce Bancshares has a fifty-two week low of $51.90 and a fifty-two week high of $60.61.
Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. The business had revenue of $314.22 million for the quarter, compared to the consensus estimate of $312.98 million. Commerce Bancshares had a net margin of 25.27% and a return on equity of 12.22%. research analysts predict that Commerce Bancshares will post 3.37 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 26th. Shareholders of record on Friday, March 9th will be given a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 1.60%. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, March 8th. Commerce Bancshares’s dividend payout ratio (DPR) is currently 31.05%.
In other Commerce Bancshares news, EVP Sara E. Foster sold 3,361 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $58.69, for a total value of $197,257.09. Following the sale, the executive vice president now directly owns 50,898 shares in the company, valued at approximately $2,987,203.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Jonathan M. Kemper sold 55,000 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $55.06, for a total transaction of $3,028,300.00. The disclosure for this sale can be found here. Insiders sold a total of 92,939 shares of company stock worth $5,257,224 over the last 90 days. Company insiders own 4.30% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. M&T Bank Corp lifted its holdings in shares of Commerce Bancshares by 1.0% during the 2nd quarter. M&T Bank Corp now owns 6,179 shares of the financial services provider’s stock worth $351,000 after acquiring an additional 62 shares during the period. Advisor Group Inc. lifted its holdings in shares of Commerce Bancshares by 2.4% during the 2nd quarter. Advisor Group Inc. now owns 5,023 shares of the financial services provider’s stock worth $250,000 after acquiring an additional 120 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Commerce Bancshares by 8.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,339 shares of the financial services provider’s stock worth $190,000 after acquiring an additional 264 shares during the period. Citizens Financial Group Inc RI lifted its holdings in shares of Commerce Bancshares by 25.5% during the 2nd quarter. Citizens Financial Group Inc RI now owns 2,650 shares of the financial services provider’s stock worth $151,000 after acquiring an additional 539 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Commerce Bancshares by 3.7% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 16,605 shares of the financial services provider’s stock worth $944,000 after acquiring an additional 600 shares during the period. 59.44% of the stock is owned by 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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