Commerce Bancshares, Inc. (CBSH) Given Consensus Rating of “Hold” by Brokerages
Commerce Bancshares, Inc. (NASDAQ:CBSH) has been assigned an average recommendation of “Hold” from the twelve analysts that are presently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a sell recommendation and eight have given a hold recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $63.00.
CBSH has been the subject of several analyst reports. Zacks Investment Research cut Commerce Bancshares from a “buy” rating to a “hold” rating in a report on Tuesday, November 20th. Barclays reiterated a “hold” rating and set a $65.00 price objective on shares of Commerce Bancshares in a research note on Friday. BidaskClub upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, November 13th. Stephens reiterated a “hold” rating and issued a $65.00 price objective on shares of Commerce Bancshares in a research report on Wednesday, December 19th. Finally, ValuEngine cut Commerce Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd.
In other news, insider Jeffrey M. Burik sold 7,737 shares of the business’s stock in a transaction on Wednesday, October 31st. The shares were sold at an average price of $64.23, for a total transaction of $496,947.51. Following the completion of the sale, the insider now directly owns 28,398 shares of the company’s stock, valued at approximately $1,824,003.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel D. Callahan sold 1,500 shares of the business’s stock in a transaction on Wednesday, November 21st. The shares were sold at an average price of $65.91, for a total transaction of $98,865.00. Following the sale, the insider now directly owns 26,036 shares of the company’s stock, valued at $1,716,032.76. The disclosure for this sale can be found here. Insiders sold a total of 11,540 shares of company stock valued at $745,554 over the last ninety days. 4.00% of the stock is owned by corporate insiders.
Shares of CBSH stock traded up $0.14 on Friday, reaching $57.95. 13,883 shares of the company’s stock were exchanged, compared to its average volume of 439,732. Commerce Bancshares has a 52 week low of $53.40 and a 52 week high of $72.55. The firm has a market capitalization of $6.50 billion, a P/E ratio of 21.96, a P/E/G ratio of 1.79 and a beta of 0.75.
Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Thursday, October 11th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.07. Commerce Bancshares had a return on equity of 15.56% and a net margin of 30.97%. The business had revenue of $331.47 million for the quarter, compared to the consensus estimate of $330.91 million. On average, equities research analysts anticipate that Commerce Bancshares will post 3.76 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, December 17th. Shareholders of record on Friday, November 30th were paid a $0.235 dividend. The ex-dividend date of this dividend was Thursday, November 29th. This represents a $0.94 annualized dividend and a yield of 1.62%. Commerce Bancshares’s payout ratio is currently 35.61%.
Commerce Bancshares Company Profile
Commerce Bancshares, Inc operates as the holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online, mobile, and telephone banking services.
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