Commerce Bancshares, Inc. (CBSH) Receives $55.43 Average PT from Analysts
Commerce Bancshares, Inc. (NASDAQ:CBSH) has been given an average recommendation of “Hold” by the eleven research firms that are covering the firm, MarketBeat reports. Five analysts have rated the stock with a sell rating and six have issued a hold rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $55.43.
Several analysts recently commented on the stock. UBS AG cut shares of Commerce Bancshares to an “underperform” rating in a report on Thursday, August 10th. Jefferies Group LLC reaffirmed a “hold” rating and set a $61.00 price objective on shares of Commerce Bancshares in a research report on Friday, August 11th. Zacks Investment Research raised shares of Commerce Bancshares from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research report on Friday, October 6th. Raymond James Financial, Inc. reissued an “underperform” rating on shares of Commerce Bancshares in a research report on Thursday, August 10th. Finally, BidaskClub lowered shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th.
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In related news, Director John R. Capps sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $54.82, for a total value of $548,200.00. Following the completion of the transaction, the director now directly owns 12,828 shares in the company, valued at approximately $703,230.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman David W. Kemper sold 10,132 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $57.83, for a total value of $585,933.56. Following the completion of the transaction, the chairman now owns 1,270,757 shares of the company’s stock, valued at $73,487,877.31. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,819 shares of company stock valued at $1,174,728. 4.30% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. boosted its position in Commerce Bancshares by 14.9% during the 1st quarter. Victory Capital Management Inc. now owns 24,648 shares of the financial services provider’s stock worth $1,384,000 after acquiring an additional 3,190 shares during the last quarter. Prudential Financial Inc. boosted its holdings in shares of Commerce Bancshares by 3.5% in the 1st quarter. Prudential Financial Inc. now owns 65,062 shares of the financial services provider’s stock valued at $3,654,000 after buying an additional 2,200 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Commerce Bancshares by 1.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 468,110 shares of the financial services provider’s stock valued at $26,603,000 after buying an additional 8,179 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Commerce Bancshares by 1.6% in the 2nd quarter. Legal & General Group Plc now owns 404,973 shares of the financial services provider’s stock valued at $23,016,000 after buying an additional 6,542 shares during the last quarter. Finally, Financial Counselors Inc. boosted its holdings in shares of Commerce Bancshares by 54.6% in the 2nd quarter. Financial Counselors Inc. now owns 211,361 shares of the financial services provider’s stock valued at $12,012,000 after buying an additional 74,613 shares during the last quarter. Institutional investors and hedge funds own 62.20% of the company’s stock.
Shares of Commerce Bancshares (NASDAQ CBSH) traded down 0.44% during trading on Thursday, hitting $56.43. 458,800 shares of the company traded hands. Commerce Bancshares has a one year low of $45.37 and a one year high of $60.61. The stock has a market cap of $5.73 billion, a price-to-earnings ratio of 19.99 and a beta of 0.83. The firm has a 50 day moving average price of $56.05 and a 200-day moving average price of $55.98.
Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Thursday, October 12th. The financial services provider reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). The company had revenue of $304.83 million for the quarter, compared to analyst estimates of $317.28 million. Commerce Bancshares had a return on equity of 12.26% and a net margin of 23.93%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.68 earnings per share. Analysts predict that Commerce Bancshares will post $2.92 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 25th. Shareholders of record on Friday, September 8th were issued a dividend of $0.225 per share. The ex-dividend date was Thursday, September 7th. This represents a $0.90 annualized dividend and a yield of 1.59%. Commerce Bancshares’s dividend payout ratio is currently 31.91%.
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, 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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