Commerce Bancshares, Inc. (CBSH) Given Average Recommendation of “Hold” by Brokerages
Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have been assigned an average rating of “Hold” from the eleven analysts that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell rating and seven have issued a hold rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $56.29.
A number of research analysts have weighed in on CBSH shares. Zacks Investment Research upgraded shares of Commerce Bancshares from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research report on Monday, January 8th. Barclays upped their price objective on shares of Commerce Bancshares from $55.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. BidaskClub upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, December 28th. Piper Jaffray Companies reiterated a “hold” rating and issued a $58.00 price objective on shares of Commerce Bancshares in a research report on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods reiterated a “sell” rating and issued a $54.00 price objective on shares of Commerce Bancshares in a research report on Friday, January 19th.
In related news, CFO Charles G. Kim sold 6,909 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $58.66, for a total transaction of $405,281.94. Following the completion of the transaction, the chief financial officer now owns 87,303 shares in the company, valued at approximately $5,121,193.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John W. Kemper sold 78,359 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $57.45, for a total transaction of $4,501,724.55. Following the transaction, the insider now owns 1,284,021 shares of the company’s stock, valued at approximately $73,767,006.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 171,298 shares of company stock valued at $9,758,949. Insiders own 4.30% of the company’s stock.
Shares of Commerce Bancshares (CBSH) opened at $57.52 on Wednesday. Commerce Bancshares has a 1-year low of $51.90 and a 1-year high of $60.61. The company has a market cap of $6,140.00, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 2.14 and a beta of 0.77.
Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.71 by $0.03. Commerce Bancshares had a net margin of 25.27% and a return on equity of 12.22%. The company had revenue of $314.22 million for the quarter, compared to analyst estimates of $312.98 million. analysts predict that Commerce Bancshares will post 3.36 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 26th. Shareholders of record on Friday, March 9th will be given a $0.235 dividend. The ex-dividend date is Thursday, March 8th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.63%. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.23. Commerce Bancshares’s dividend payout ratio is 31.14%.
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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