Commerce Bancshares (CBSH) Given Hold Rating at Piper Jaffray Companies
Commerce Bancshares (NASDAQ:CBSH)‘s stock had its “hold” rating reiterated by analysts at Piper Jaffray Companies in a research report issued to clients and investors on Tuesday. They presently have a $58.00 price objective on the financial services provider’s stock. Piper Jaffray Companies’ price objective indicates a potential upside of 1.13% from the company’s current price.
A number of other brokerages have also issued reports on CBSH. Zacks Investment Research lowered shares of Commerce Bancshares from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. BidaskClub upgraded shares of Commerce Bancshares from a “strong sell” rating to a “sell” rating in a research report on Friday, December 22nd. Keefe, Bruyette & Woods restated a “sell” rating and set a $51.00 target price on shares of Commerce Bancshares in a research report on Friday, September 15th. Finally, Barclays raised their target price 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. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $56.25.
Shares of Commerce Bancshares (NASDAQ:CBSH) traded up $0.87 on Tuesday, hitting $57.35. 509,100 shares of the stock were exchanged, compared to its average volume of 430,314. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.68 and a current ratio of 0.68. Commerce Bancshares has a fifty-two week low of $51.90 and a fifty-two week high of $60.61. The stock has a market cap of $6,120.00, a PE ratio of 21.40, a price-to-earnings-growth ratio of 3.05 and a beta of 0.80.
Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Thursday, October 12th. The financial services provider reported $0.71 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.03). Commerce Bancshares had a return on equity of 12.08% and a net margin of 23.93%. The business had revenue of $304.83 million for the quarter, compared to analysts’ expectations of $317.28 million. During the same period last year, the business earned $0.68 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. equities analysts expect that Commerce Bancshares will post 2.76 earnings per share for the current year.
In related news, insider V Raymond Stranghoener sold 6,399 shares of Commerce Bancshares stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $58.40, for a total transaction of $373,701.60. Following the sale, the insider now owns 47,112 shares of the company’s stock, valued at approximately $2,751,340.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Jonathan M. Kemper sold 55,000 shares of Commerce Bancshares stock in a transaction on Monday, December 11th. The stock was sold at an average price of $55.06, for a total transaction of $3,028,300.00. The disclosure for this sale can be found here. 4.30% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in shares of Commerce Bancshares by 3.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,083,851 shares of the financial services provider’s stock worth $62,613,000 after purchasing an additional 35,361 shares during the last quarter. Cetera Investment Advisers bought a new stake in shares of Commerce Bancshares in the 2nd quarter worth about $272,000. Nuance Investments LLC increased its position in shares of Commerce Bancshares by 4.3% in the 3rd quarter. Nuance Investments LLC now owns 996,414 shares of the financial services provider’s stock worth $57,563,000 after purchasing an additional 40,997 shares during the last quarter. Schroder Investment Management Group increased its position in shares of Commerce Bancshares by 1.5% in the 3rd quarter. Schroder Investment Management Group now owns 844,628 shares of the financial services provider’s stock worth $48,491,000 after purchasing an additional 12,843 shares during the last quarter. Finally, 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 period. 59.14% of the stock is owned by institutional investors.
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Commerce Bancshares Company Profile
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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