Commerce Bancshares Inc. (CBSH) Price Target Increased to $48.00 by Analysts at Barclays PLC
Commerce Bancshares Inc. (NASDAQ:CBSH) had its target price upped by Barclays PLC from $45.00 to $48.00 in a report released on Tuesday morning. The brokerage currently has an equal weight rating on the financial services provider’s stock.
Several other research analysts have also issued reports on CBSH. Zacks Investment Research raised Commerce Bancshares from a sell rating to a hold rating in a research report on Monday, September 26th. Jefferies Group reaffirmed a hold rating and set a $48.00 target price on shares of Commerce Bancshares in a research report on Thursday, July 7th. Morgan Stanley lowered Commerce Bancshares from an equal weight rating to an underweight rating and set a $45.00 target price on the stock. in a research report on Tuesday, September 20th. Finally, Piper Jaffray Cos. assumed coverage on Commerce Bancshares in a research report on Monday, July 11th. They set a neutral rating and a $43.50 target price on the stock. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Commerce Bancshares has an average rating of Hold and an average target price of $45.75.
Commerce Bancshares (NASDAQ:CBSH) traded up 0.30% during mid-day trading on Tuesday, hitting $50.42. The stock had a trading volume of 198,079 shares. The stock has a market cap of $4.87 billion, a price-to-earnings ratio of 19.32 and a beta of 0.74. The stock’s 50-day moving average price is $49.54 and its 200-day moving average price is $47.81. Commerce Bancshares has a 12 month low of $37.44 and a 12 month high of $51.30.
Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Wednesday, July 13th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.02. Commerce Bancshares had a return on equity of 11.58% and a net margin of 23.03%. The company had revenue of $288.40 million for the quarter, compared to analyst estimates of $295.65 million. During the same period in the prior year, the company posted $0.71 EPS. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, analysts predict that Commerce Bancshares will post $2.77 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 26th. Shareholders of record on Friday, September 9th were given a dividend of $0.225 per share. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $0.90 dividend on an annualized basis and a yield of 1.79%. Commerce Bancshares’s dividend payout ratio is currently 34.50%.
In other news, Vice Chairman Jonathan M. Kemper sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $50.07, for a total value of $2,503,500.00. Following the transaction, the insider now owns 1,192,407 shares in the company, valued at $59,703,818.49. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David W. Kemper sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $48.86, for a total value of $1,954,400.00. Following the completion of the transaction, the chief executive officer now owns 1,316,068 shares in the company, valued at approximately $64,303,082.48. The disclosure for this sale can be found here. Company insiders own 4.60% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in CBSH. Creative Planning increased its position in Commerce Bancshares by 2.6% in the third quarter. Creative Planning now owns 100,953 shares of the financial services provider’s stock valued at $4,973,000 after buying an additional 2,534 shares during the period. Oregon Public Employees Retirement Fund increased its position in Commerce Bancshares by 2.0% in the third quarter. Oregon Public Employees Retirement Fund now owns 28,758 shares of the financial services provider’s stock valued at $1,417,000 after buying an additional 572 shares during the period. Mason Street Advisors LLC purchased a new position in Commerce Bancshares during the second quarter valued at $1,814,000. Public Employees Retirement System of Ohio increased its position in Commerce Bancshares by 30.8% in the second quarter. Public Employees Retirement System of Ohio now owns 36,618 shares of the financial services provider’s stock valued at $1,754,000 after buying an additional 8,626 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in Commerce Bancshares by 3.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 350,560 shares of the financial services provider’s stock valued at $16,792,000 after buying an additional 12,578 shares during the period. Institutional investors and hedge funds own 60.86% 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, 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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