BidaskClub upgraded shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) from a sell rating to a hold rating in a research report sent to investors on Tuesday, June 13th.
CBSH has been the topic of several other research reports. Zacks Investment Research upgraded shares of Commerce Bancshares from a hold rating to a buy rating and set a $64.00 price objective for the company in a research note on Tuesday, March 21st. Barclays PLC decreased their price objective on shares of 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. Keefe, Bruyette & Woods restated a sell rating and set a $46.00 price objective on shares of Commerce Bancshares in a research note on Wednesday, April 5th. Jefferies Group LLC restated a hold rating and set a $61.00 price objective on shares of Commerce Bancshares in a research note on Tuesday, April 4th. Finally, Morgan Stanley lifted their price objective on shares of Commerce Bancshares from $48.00 to $49.00 and gave the company an underweight rating in a research note on Tuesday, June 6th. Three analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Commerce Bancshares currently has an average rating of Hold and an average price target of $54.50.
Commerce Bancshares (CBSH) traded down 0.58% during trading on Tuesday, hitting $56.99. 374,643 shares of the company traded hands. Commerce Bancshares has a 52-week low of $42.44 and a 52-week high of $60.61. The company’s 50-day moving average is $55.28 and its 200 day moving average is $56.51. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of 21.32 and a beta of 0.78.
Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Thursday, April 13th. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.03. The company had revenue of $295.30 million for the quarter, compared to the consensus estimate of $298.61 million. Commerce Bancshares had a net margin of 23.43% and a return on equity of 11.76%. Commerce Bancshares’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.62 EPS. On average, equities analysts anticipate that Commerce Bancshares will post $2.84 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Monday, June 26th. Investors of record on Friday, June 9th will be issued a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Wednesday, June 7th. Commerce Bancshares’s payout ratio is presently 33.65%.
In related news, Vice Chairman Jonathan M. Kemper sold 36,979 shares of the business’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $54.10, for a total value of $2,000,563.90. Following the completion of the sale, the insider now owns 1,045,605 shares of the company’s stock, valued at approximately $56,567,230.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Charles G. Kim sold 3,712 shares of the business’s stock in a transaction on Friday, April 28th. The stock was sold at an average price of $55.31, for a total transaction of $205,310.72. Following the completion of the sale, the insider now directly owns 80,475 shares of the company’s stock, valued at approximately $4,451,072.25. The disclosure for this sale can be found here. In the last three months, insiders sold 66,167 shares of company stock valued at $3,602,308. 4.30% of the stock is owned by insiders.
Large investors have recently modified their holdings of the company. Trexquant Investment LP bought a new stake in shares of Commerce Bancshares during the fourth quarter valued at approximately $618,000. FMR LLC raised its stake in Commerce Bancshares by 4.3% in the fourth quarter. FMR LLC now owns 2,170,574 shares of the financial services provider’s stock worth $125,481,000 after buying an additional 89,912 shares during the last quarter. Federated Investors Inc. PA raised its stake in Commerce Bancshares by 4.6% in the fourth quarter. Federated Investors Inc. PA now owns 47,761 shares of the financial services provider’s stock worth $2,761,000 after buying an additional 2,087 shares during the last quarter. Baird Financial Group Inc. acquired a new stake in Commerce Bancshares during the fourth quarter worth about $1,267,000. Finally, Dimensional Fund Advisors LP raised its stake in Commerce Bancshares by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 912,854 shares of the financial services provider’s stock worth $52,772,000 after buying an additional 24,554 shares during the last quarter. 62.11% of the stock is owned by 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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