Commerce Bancshares, Inc. (CBSH) Receives Consensus Rating of “Hold” from Brokerages

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have received an average rating of “Hold” from the ten analysts that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $61.63.

A number of research analysts recently weighed in on the stock. DA Davidson cut their target price on shares of Commerce Bancshares to $60.00 and set a “neutral” rating for the company in a report on Friday. Stephens reissued a “hold” rating and issued a $62.00 target price on shares of Commerce Bancshares in a report on Thursday, April 11th. Zacks Investment Research lowered shares of Commerce Bancshares from a “buy” rating to a “hold” rating in a report on Thursday, April 4th. Barclays reissued a “hold” rating and issued a $65.00 target price on shares of Commerce Bancshares in a report on Friday, January 11th. Finally, Raymond James raised shares of Commerce Bancshares from an “underperform” rating to a “market perform” rating and set a $60.43 target price for the company in a report on Friday, January 18th. They noted that the move was a valuation call.

Commerce Bancshares stock opened at $59.17 on Tuesday. Commerce Bancshares has a 1 year low of $53.40 and a 1 year high of $72.55. The company has a market cap of $6.59 billion, a PE ratio of 15.65, a P/E/G ratio of 3.62 and a beta of 0.74.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, April 11th. The financial services provider reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.06). Commerce Bancshares had a net margin of 30.39% and a return on equity of 15.65%. The business had revenue of $324.73 million during the quarter, compared to analysts’ expectations of $333.99 million. On average, sell-side analysts expect that Commerce Bancshares will post 3.76 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.76%. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Thursday, March 7th. Commerce Bancshares’s payout ratio is presently 27.51%.

In other Commerce Bancshares news, Director David W. Kemper sold 20,000 shares of Commerce Bancshares stock in a transaction on Friday, February 1st. The shares were sold at an average price of $59.81, for a total transaction of $1,196,200.00. Following the completion of the transaction, the director now directly owns 1,319,624 shares of the company’s stock, valued at $78,926,711.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Daniel D. Callahan sold 787 shares of Commerce Bancshares stock in a transaction on Monday, January 28th. The stock was sold at an average price of $60.74, for a total transaction of $47,802.38. Following the transaction, the vice president now directly owns 25,848 shares of the company’s stock, valued at $1,570,007.52. The disclosure for this sale can be found here. Insiders have sold 94,093 shares of company stock valued at $5,735,892 over the last ninety days. 3.60% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. CX Institutional purchased a new stake in shares of Commerce Bancshares during the first quarter valued at $28,000. Pearl River Capital LLC purchased a new stake in shares of Commerce Bancshares during the fourth quarter valued at $28,000. O Shaughnessy Asset Management LLC purchased a new stake in shares of Commerce Bancshares during the fourth quarter valued at $48,000. Toronto Dominion Bank purchased a new stake in shares of Commerce Bancshares during the fourth quarter valued at $72,000. Finally, Enlightenment Research LLC purchased a new stake in shares of Commerce Bancshares during the fourth quarter valued at $73,000. 64.19% of the stock is owned by institutional investors.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc operates as the bank 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 banking services.

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Analyst Recommendations for Commerce Bancshares (NASDAQ:CBSH)

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