Commerce Bancshares, Inc. (CBSH) Receives $54.50 Consensus PT from Brokerages
Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have been given a consensus rating of “Hold” by the eleven analysts that are presently covering the stock, MarketBeat reports. Five analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $54.63.
A number of research analysts have recently commented on the company. Zacks Investment Research upgraded Commerce Bancshares from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research report on Monday, August 21st. Keefe, Bruyette & Woods reiterated a “sell” rating and set a $46.00 target price on shares of Commerce Bancshares in a research report on Monday, June 12th. BidaskClub downgraded Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Raymond James Financial, Inc. reiterated an “underperform” rating on shares of Commerce Bancshares in a research report on Thursday, August 10th. Finally, Morgan Stanley increased their target price on Commerce Bancshares from $48.00 to $49.00 and gave the company an “underweight” rating in a research report on Tuesday, June 6th.
In other Commerce Bancshares news, insider Jeffery D. Aberdeen sold 687 shares of the stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $59.09, for a total value of $40,594.83. Following the sale, the insider now owns 40,232 shares in the company, valued at $2,377,308.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman David W. Kemper sold 10,132 shares of the stock in a transaction on Friday, July 21st. The stock was sold at an average price of $57.83, for a total value of $585,933.56. Following the completion of the sale, the chairman now owns 1,270,757 shares in the company, valued at approximately $73,487,877.31. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,099 shares of company stock valued at $2,643,431. 4.30% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. Captrust Financial Advisors acquired a new stake in Commerce Bancshares during the second quarter worth $106,000. Citizens Financial Group Inc. RI acquired a new stake in Commerce Bancshares during the first quarter worth $119,000. Citizens Financial Group Inc RI raised its stake in Commerce Bancshares by 25.5% in the second quarter. Citizens Financial Group Inc RI now owns 2,650 shares of the financial services provider’s stock worth $151,000 after buying an additional 539 shares during the last quarter. Mosaic Family Wealth LLC raised its stake in Commerce Bancshares by 2.9% in the first quarter. Mosaic Family Wealth LLC now owns 3,116 shares of the financial services provider’s stock worth $175,000 after buying an additional 89 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Commerce Bancshares by 8.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,339 shares of the financial services provider’s stock worth $190,000 after buying an additional 264 shares during the last quarter. Institutional investors and hedge funds own 62.19% of the company’s stock.
Commerce Bancshares (NASDAQ CBSH) traded down 0.55% during trading on Wednesday, reaching $54.73. 164,585 shares of the company were exchanged. Commerce Bancshares has a one year low of $45.37 and a one year high of $60.61. The company has a market capitalization of $5.56 billion, a P/E ratio of 19.83 and a beta of 0.81. The firm’s 50-day moving average is $56.86 and its 200 day moving average is $56.39.
Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, July 13th. The financial services provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.05. The firm had revenue of $305.89 million during the quarter, compared to the consensus estimate of $309.44 million. Commerce Bancshares had a return on equity of 12.01% and a net margin of 23.79%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.70 EPS. On average, analysts anticipate that Commerce Bancshares will post $2.94 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 25th. Investors of record on Friday, September 8th will be given a $0.225 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.90 dividend on an annualized basis and a yield of 1.64%. Commerce Bancshares’s dividend payout ratio is presently 32.64%.
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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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