Commerce Bancshares’ (CBSH) “Hold” Rating Reaffirmed at Stephens
Several other research firms have also recently commented on CBSH. Zacks Investment Research raised Commerce Bancshares from a hold rating to a buy rating and set a $64.00 target price for the company in a research note on Tuesday, March 21st. Wells Fargo & Co assumed coverage on Commerce Bancshares in a research note on Friday, January 6th. They set a market perform rating for the company. Barclays PLC decreased their price objective on Commerce Bancshares from $55.00 to $54.00 and set an equal weight rating for the company in a research note on Tuesday, April 11th. Jefferies Group LLC reaffirmed a hold rating and set a $61.00 price objective on shares of Commerce Bancshares in a research note on Tuesday, April 4th. Finally, Keefe, Bruyette & Woods reaffirmed a sell rating and set a $46.00 price objective on shares of Commerce Bancshares in a research note on Wednesday, April 5th. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. The stock currently has a consensus rating of Hold and an average target price of $53.29.
Commerce Bancshares (NASDAQ:CBSH) opened at 54.97 on Monday. Commerce Bancshares has a 1-year low of $42.44 and a 1-year high of $60.61. The stock has a 50 day moving average price of $56.14 and a 200 day moving average price of $54.76. The company has a market cap of $5.59 billion, a PE ratio of 20.55 and a beta of 0.74.
Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Thursday, April 13th. The financial services provider reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.03. The company earned $295.30 million during the quarter, compared to analysts’ expectations of $298.61 million. Commerce Bancshares had a return on equity of 11.65% and a net margin of 23.19%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period last year, the firm earned $0.62 EPS. Equities analysts forecast that Commerce Bancshares will post $2.83 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 26th. Investors of record on Friday, June 9th will be paid a dividend of $0.225 per share. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.64%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 34.44%.
In other Commerce Bancshares news, insider Patricia R. Kellerhals sold 604 shares of the business’s stock in a transaction dated Wednesday, April 19th. The stock was sold at an average price of $54.50, for a total value of $32,918.00. Following the completion of the transaction, the insider now directly owns 5,563 shares of the company’s stock, valued at $303,183.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman David W. Kemper sold 13,973 shares of the business’s stock in a transaction dated Wednesday, April 19th. The shares were sold at an average price of $54.32, for a total value of $759,013.36. Following the completion of the transaction, the chairman now directly owns 1,227,014 shares of the company’s stock, valued at $66,651,400.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,561 shares of company stock valued at $4,867,487. 4.60% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of CBSH. Bank of New York Mellon Corp boosted its position in Commerce Bancshares by 0.8% in the third quarter. Bank of New York Mellon Corp now owns 945,707 shares of the financial services provider’s stock worth $46,585,000 after buying an additional 7,911 shares during the last quarter. Dearborn Partners LLC boosted its position in Commerce Bancshares by 4.0% in the third quarter. Dearborn Partners LLC now owns 299,770 shares of the financial services provider’s stock worth $14,767,000 after buying an additional 11,546 shares during the last quarter. BlackRock Fund Advisors boosted its position in Commerce Bancshares by 4.3% in the third quarter. BlackRock Fund Advisors now owns 3,149,247 shares of the financial services provider’s stock worth $155,132,000 after buying an additional 130,170 shares during the last quarter. Baird Financial Group Inc. acquired a new position in Commerce Bancshares during the fourth quarter worth about $1,267,000. Finally, Norges Bank acquired a new position in Commerce Bancshares during the fourth quarter worth about $44,629,000. 57.14% of the stock is owned by hedge funds and other institutional investors.
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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