BidaskClub downgraded shares of Commerce Bancshares (NASDAQ:CBSH) from a hold rating to a sell rating in a research note issued to investors on Tuesday, January 30th.
CBSH has been the subject of a number of other research reports. Zacks Investment Research upgraded Commerce Bancshares from a hold rating to a buy rating and set a $63.00 price target for the company in a report on Monday, January 8th. Piper Jaffray Companies reissued a neutral rating and issued a $60.00 price objective on shares of Commerce Bancshares in a research note on Friday, October 6th. Barclays boosted their price objective on shares of Commerce Bancshares from $55.00 to $59.00 and gave the stock an equal weight rating in a research note on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods reissued a sell rating and issued a $54.00 price objective on shares of Commerce Bancshares in a research note on Friday, January 19th. Four research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. The company presently has an average rating of Hold and a consensus price target of $57.13.
Shares of Commerce Bancshares (NASDAQ CBSH) opened at $58.89 on Tuesday. Commerce Bancshares has a twelve month low of $49.43 and a twelve month high of $59.72. The stock has a market capitalization of $6,280.00, a PE ratio of 20.38, a PEG ratio of 2.14 and a beta of 0.77.
Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.03. Commerce Bancshares had a return on equity of 12.22% and a net margin of 25.27%. The company had revenue of $314.22 million for the quarter, compared to analysts’ expectations of $312.98 million. equities analysts predict that Commerce Bancshares will post 3.36 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 26th. Shareholders of record on Friday, March 9th will be issued 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 of this dividend is Thursday, March 8th. Commerce Bancshares’s dividend payout ratio is presently 31.14%.
In other Commerce Bancshares news, CFO Charles G. Kim sold 6,909 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $58.66, for a total value of $405,281.94. Following the completion of the sale, the chief financial officer now owns 87,303 shares in the company, valued at approximately $5,121,193.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Daniel D. Callahan sold 1,090 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $56.95, for a total transaction of $62,075.50. Following the completion of the sale, the vice president now owns 32,822 shares of the company’s stock, valued at approximately $1,869,212.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 187,452 shares of company stock worth $10,692,049. Corporate insiders own 4.30% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its position in shares of Commerce Bancshares by 189.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,211 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 1,448 shares during the period. SignalPoint Asset Management LLC purchased a new position in Commerce Bancshares in the 3rd quarter valued at approximately $226,000. Wedbush Securities Inc. purchased a new position in Commerce Bancshares in the 3rd quarter valued at approximately $229,000. Advisor Group Inc. boosted its position in Commerce Bancshares by 2.4% in the 2nd quarter. Advisor Group Inc. now owns 5,023 shares of the financial services provider’s stock valued at $250,000 after buying an additional 120 shares during the period. Finally, Cetera Investment Advisers purchased a new position in Commerce Bancshares in the 2nd quarter valued at approximately $272,000. Institutional investors and hedge funds own 59.77% 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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