Analysts Set Commerce Bancshares Inc. (CBSH) PT at $44.70
Commerce Bancshares Inc. (NASDAQ:CBSH) has received a consensus rating of “Hold” from the seven brokerages that are currently covering the company. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $45.30.
A number of equities research analysts recently issued reports on CBSH shares. Barclays PLC boosted their price objective on Commerce Bancshares from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Tuesday. Zacks Investment Research raised Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Friday, July 15th. Morgan Stanley lowered Commerce Bancshares from an “equal weight” rating to an “underweight” rating and set a $45.00 target price for the company. in a report on Tuesday, September 20th. Jefferies Group reaffirmed a “hold” rating on shares of Commerce Bancshares in a report on Thursday, August 18th. Finally, Piper Jaffray Cos. started coverage on Commerce Bancshares in a report on Monday, July 11th. They set a “neutral” rating and a $43.50 target price for the company.
Commerce Bancshares (NASDAQ:CBSH) opened at 49.50 on Tuesday. Commerce Bancshares has a one year low of $37.44 and a one year high of $51.30. The company has a 50-day moving average of $49.58 and a 200-day moving average of $47.84. The company has a market cap of $4.78 billion, a price-to-earnings ratio of 18.97 and a beta of 0.74.
Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Wednesday, July 13th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $288.40 million for the quarter, compared to analysts’ expectations of $295.65 million. During the same period in the previous year, the business posted $0.71 EPS. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. Equities research analysts expect that Commerce Bancshares will post $2.77 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 26th. Stockholders of record on Friday, September 9th were issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend was Wednesday, September 7th. Commerce Bancshares’s dividend payout ratio (DPR) is 34.50%.
In other news, insider V Raymond Stranghoener sold 4,964 shares of Commerce Bancshares stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $48.49, for a total value of $240,704.36. Following the completion of the transaction, the insider now owns 80,869 shares in the company, valued at approximately $3,921,337.81. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Vice Chairman Jonathan M. Kemper sold 50,000 shares of Commerce Bancshares stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $47.22, for a total value of $2,361,000.00. Following the completion of the transaction, the insider now owns 1,242,407 shares of the company’s stock, valued at approximately $58,666,458.54. The disclosure for this sale can be found here. 4.60% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the company. Capstone Asset Management Co. boosted its position in shares of Commerce Bancshares by 1.0% in the third quarter. Capstone Asset Management Co. now owns 6,804 shares of the financial services provider’s stock worth $335,000 after buying an additional 69 shares during the period. Creative Planning boosted its position in shares of Commerce Bancshares by 2.6% in the third quarter. Creative Planning now owns 100,953 shares of the financial services provider’s stock worth $4,973,000 after buying an additional 2,534 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of 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 worth $1,417,000 after buying an additional 572 shares during the period. Mason Street Advisors LLC bought a new position in shares of Commerce Bancshares during the second quarter worth approximately $1,814,000. Finally, Public Employees Retirement System of Ohio boosted its position in shares of 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 worth $1,754,000 after buying an additional 8,626 shares during the period. Hedge funds and other institutional investors 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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