Commerce Bancshares Inc. (CBSH) Receives $45.30 Average PT from Brokerages
Commerce Bancshares Inc. (NASDAQ:CBSH) has earned an average rating of “Hold” from the seven analysts that are covering the firm. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $45.30.
A number of equities research analysts have recently weighed in on CBSH shares. Zacks Investment Research raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, September 26th. Barclays PLC lifted 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, October 11th. 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. Finally, Jefferies Group reiterated a “hold” rating on shares of Commerce Bancshares in a report on Thursday, August 18th.
In other Commerce Bancshares news, Chairman David W. Kemper sold 50,000 shares of Commerce Bancshares stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $49.26, for a total transaction of $2,463,000.00. Following the completion of the sale, the chairman now directly owns 1,226,068 shares of the company’s stock, valued at approximately $60,396,109.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.60% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the company. Mosaic Family Wealth LLC increased its stake in Commerce Bancshares by 11.2% in the third quarter. Mosaic Family Wealth LLC now owns 2,889 shares of the financial services provider’s stock valued at $142,000 after buying an additional 291 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in Commerce Bancshares by 140.9% in the third quarter. Ameritas Investment Partners Inc. now owns 31,626 shares of the financial services provider’s stock valued at $1,558,000 after buying an additional 18,497 shares during the last quarter. Verition Fund Management LLC purchased a new stake in Commerce Bancshares during the third quarter valued at $317,000. Dean Investment Associates LLC increased its stake in Commerce Bancshares by 1.3% in the third quarter. Dean Investment Associates LLC now owns 11,996 shares of the financial services provider’s stock valued at $591,000 after buying an additional 153 shares during the last quarter. Finally, Gerstein Fisher purchased a new stake in Commerce Bancshares during the third quarter valued at $235,000. 60.57% of the stock is owned by institutional investors.
Commerce Bancshares (NASDAQ:CBSH) opened at 57.20 on Tuesday. The firm has a market capitalization of $5.53 billion, a price-to-earnings ratio of 21.52 and a beta of 0.66. The company’s 50-day moving average price is $50.69 and its 200 day moving average price is $48.82. Commerce Bancshares has a 12 month low of $37.44 and a 12 month high of $58.04.
Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Friday, October 14th. The financial services provider reported $0.68 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.70 by $0.02. Commerce Bancshares had a net margin of 23.01% and a return on equity of 11.52%. The firm earned $290.60 million during the quarter. During the same period in the previous year, the firm earned $0.63 earnings per share. The company’s quarterly revenue was up 6.3% on a year-over-year basis. Analysts predict that Commerce Bancshares will post $2.74 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 19th. Shareholders of record on Friday, December 2nd will be issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Wednesday, November 30th. Commerce Bancshares’s dividend payout ratio (DPR) is 33.83%.
About Commerce Bancshares
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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