Several brokerages have updated their recommendations and price targets on shares of Commerce Bancshares (NASDAQ: CBSH) in the last few weeks:

  • 9/5/2017 – Commerce Bancshares was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $62.00 price target on the stock. According to Zacks, “Shares of Commerce Bancshares have outperformed the industry in the past three months. Also, the company has surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. The bank's efforts to expand its footprint in newer markets, an improving rate scenario and expectation of lesser regulations are projected to boost revenues further. While rising expenses and significant exposure to real estate loans remain near-term concerns, strong loan and deposit balance should support its profitability. Further, the company's capital deployment activities are impressive, reflecting strong balance sheet position.”
  • 8/31/2017 – Commerce Bancshares was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of Commerce Bancshares have underperformed the industry in the past year. However, the company has surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. The company's efforts to expand its footprint in newer markets, an improving rate scenario and expectation of lesser regulations are expected to boost revenues further. Also, strong loan and deposit balance should support its profitability. Given a solid liquidity position, the company should be able to continue enhancing shareholder value through efficient capital deployment activities. However, rising expenses mainly due to increase in personnel costs and investments in franchise remain a major headwind. Further, a significant exposure to real estate loans remains a near-term concern for the company.”
  • 8/28/2017 – Commerce Bancshares was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $62.00 price target on the stock. According to Zacks, “Shares of Commerce Bancshares have underperformed the industry in the past year. However, the company has surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. The company's efforts to expand its footprint in newer markets, an improving rate scenario and expectation of lesser regulations are expected to boost revenues further. Also, strong loan and deposit balance should support its profitability. Given a solid liquidity position, the company should be able to continue enhancing shareholder value through efficient capital deployment activities. However, rising expenses mainly due to increase in personnel costs and investments in franchise remain a major headwind. Further, a significant exposure to real estate loans remains a near-term concern for the company.”
  • 8/25/2017 – Commerce Bancshares was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Commerce Bancshares’ shares have outperformed the industry in the last six months. The company's efforts to expand its footprint in newer markets, an improving rate scenario and expectation of lesser regulations are expected to boost revenues further. Also, strong loan and deposit balance should support its profitability. Given a solid liquidity position, the company should be able to continue enhancing shareholder value through efficient capital deployment activities. However, rising expenses mainly due to increase in personnel costs and investments in franchise remain a major headwind. Further, a significant exposure to real estate loans remains a near-term concern for the company.”
  • 8/21/2017 – Commerce Bancshares was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $61.00 price target on the stock. According to Zacks, “Commerce Bancshares’ shares have outperformed the industry in the last six months. The company's efforts to expand its footprint in newer markets, an improving rate scenario and expectation of lesser regulations are expected to boost revenues further. Also, strong loan and deposit balance should support its profitability. Given a solid liquidity position, the company should be able to continue enhancing shareholder value through efficient capital deployment activities. However, persistently rising expenses (mainly due to increase in personnel costs) and significant exposure to risky loans remains major headwinds.”
  • 8/17/2017 – Commerce Bancshares was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Commerce Bancshares’ shares have outperformed the industry in the last three months. The company's efforts to expand its footprint in newer markets, an improving rate scenario and expectation of lesser regulations are expected to boost revenues further. Also, strong loan and deposit balance should support its profitability. Given a solid liquidity position, the company should be able to continue with its steady capital deployment activities. However, rising expenses mainly due to increase in personnel costs and investments in franchise remain a major headwind. Further, a significant exposure to real estate loans remains a near-term concern for the company.”
  • 8/11/2017 – Commerce Bancshares had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $61.00 price target on the stock.
  • 8/10/2017 – Commerce Bancshares was downgraded by analysts at UBS AG to an “underperform” rating.
  • 8/10/2017 – Commerce Bancshares had its “underperform” rating reaffirmed by analysts at Raymond James Financial, Inc..
  • 7/31/2017 – Commerce Bancshares was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 7/17/2017 – Commerce Bancshares had its “equal weight” rating reaffirmed by analysts at Stephens. They now have a $56.00 price target on the stock, up previously from $52.00.
  • 7/17/2017 – Commerce Bancshares was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $65.00 price target on the stock. According to Zacks, “Commerce Bancshares’ shares have outperformed the Zacks categorized Midwest Banking industry in the last three months. The company’s second-quarter 2017 earnings easily outpaced the Zacks Consensus Estimate, mainly driven by improvement in revenues. The company's efforts to expand its footprint in newer markets, an improving rate scenario and expectation of lesser regulations are expected to boost revenues further. While rising expenses and a significant exposure to real estate loans remain near-term concerns, strong loan and deposit balance should support its profitability. Given a solid liquidity position, the company should be able to continue with its capital deployment activities, thus enhancing shareholder value.”
  • 7/16/2017 – Commerce Bancshares was given a new $58.00 price target on by analysts at Barclays PLC. They now have a “hold” rating on the stock.
  • 7/14/2017 – Commerce Bancshares had its “market perform” rating reaffirmed by analysts at Wells Fargo & Company. They now have a $53.00 price target on the stock, up previously from $51.00.
  • 7/14/2017 – Commerce Bancshares had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $61.00 price target on the stock.
  • 7/14/2017 – Commerce Bancshares had its “hold” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $52.00 price target on the stock.
  • 7/12/2017 – Commerce Bancshares had its “equal weight” rating reaffirmed by analysts at Barclays PLC. They now have a $54.00 price target on the stock, down previously from $55.00.
  • 7/12/2017 – Commerce Bancshares was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 7/10/2017 – Commerce Bancshares was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Commerce Bancshares’ shares marginally underperformed the Zacks categorized Midwest Banking industry in the last three months. Rising expenses continue to be a major concern for the company. Also, significant exposure to real estate loans might pose some risks for the company in the near-term. Nevertheless, the company's efforts to expand its footprint in newer markets, expectation of lesser regulations and an improving rate scenario are expected to improve revenues. Given a solid capital position, the company should be able to continue its capital deployment activities, thus enhancing shareholder value.”

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) traded up 0.32% during trading on Wednesday, hitting $53.91. The stock had a trading volume of 72,646 shares. Commerce Bancshares, Inc. has a 12-month low of $45.37 and a 12-month high of $60.61. The firm has a market cap of $5.48 billion, a P/E ratio of 19.53 and a beta of 0.82. The firm has a 50 day moving average price of $56.40 and a 200 day moving average price of $56.26.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Thursday, July 13th. The financial services provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.05. The company had revenue of $305.89 million for the quarter, compared to the consensus estimate of $309.44 million. Commerce Bancshares had a return on equity of 12.01% and a net margin of 23.79%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the firm earned $0.70 EPS. On average, equities analysts expect that Commerce Bancshares, Inc. will post $2.94 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 25th. Shareholders of record on Friday, September 8th will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Thursday, September 7th. Commerce Bancshares’s dividend payout ratio is currently 32.64%.

In other news, Director John R. Capps sold 10,000 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $54.82, for a total transaction of $548,200.00. Following the sale, the director now directly owns 12,828 shares of the company’s stock, valued at approximately $703,230.96. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman David W. Kemper sold 10,132 shares of the stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $57.83, for a total transaction of $585,933.56. Following the sale, the chairman now directly owns 1,270,757 shares in the company, valued at $73,487,877.31. The disclosure for this sale can be found here. Insiders have sold a total of 21,120 shares of company stock worth $1,191,067 over the last ninety days. 4.30% of the stock is owned by insiders.

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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