Piper Jaffray Companies restated their hold rating on shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) in a research note released on Friday, July 14th. The firm currently has a $52.00 price target on the financial services provider’s stock.
Several other equities analysts have also weighed in on the stock. Zacks Investment Research raised shares of Commerce Bancshares from a hold rating to a buy rating and set a $64.00 target price for the company in a report on Tuesday, March 21st. BidaskClub lowered shares of Commerce Bancshares from a hold rating to a sell rating in a report on Saturday, June 24th. Stephens reaffirmed a hold rating on shares of Commerce Bancshares in a report on Monday, April 17th. Barclays PLC boosted their price target on shares of Commerce Bancshares from $54.00 to $55.00 and gave the stock an equal weight rating in a report on Wednesday, April 19th. Finally, Jefferies Group LLC reissued a hold rating and issued a $61.00 price target on shares of Commerce Bancshares in a report on Tuesday, April 4th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $55.00.
Commerce Bancshares (NASDAQ CBSH) opened at 55.22 on Friday. The stock’s 50 day moving average is $57.34 and its 200 day moving average is $56.49. The firm has a market capitalization of $5.61 billion, a P/E ratio of 20.01 and a beta of 0.81. Commerce Bancshares has a one year low of $45.37 and a one year high of $60.61.
Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Thursday, July 13th. The financial services provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.70 by $0.05. The business had revenue of $305.89 million during the quarter, compared to analysts’ expectations of $309.44 million. Commerce Bancshares had a net margin of 23.79% and a return on equity of 12.01%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.70 EPS. On average, equities research analysts predict that Commerce Bancshares will post $2.94 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Monday, September 25th. Shareholders of record on Friday, September 8th will be paid a dividend of $0.225 per share. 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 1.63%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 32.64%.
In related news, Chairman David W. Kemper sold 10,132 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $57.83, for a total transaction of $585,933.56. Following the sale, the chairman now directly owns 1,270,757 shares in the company, valued at $73,487,877.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffery D. Aberdeen sold 687 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $59.09, for a total transaction of $40,594.83. Following the sale, the insider now owns 40,232 shares in the company, valued at $2,377,308.88. The disclosure for this sale can be found here. Insiders have sold 48,099 shares of company stock worth $2,643,431 over the last quarter. Insiders own 4.30% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Commerce Bancshares by 2.9% in the second quarter. Vanguard Group Inc. now owns 8,599,122 shares of the financial services provider’s stock valued at $488,688,000 after buying an additional 246,065 shares during the last quarter. BlackRock Inc. increased its stake in Commerce Bancshares by 1.1% in the second quarter. BlackRock Inc. now owns 7,591,937 shares of the financial services provider’s stock valued at $431,451,000 after buying an additional 82,095 shares during the last quarter. FMR LLC increased its stake in Commerce Bancshares by 2.0% in the second quarter. FMR LLC now owns 2,029,867 shares of the financial services provider’s stock valued at $115,357,000 after buying an additional 40,600 shares during the last quarter. Lazard Asset Management LLC increased its stake in Commerce Bancshares by 27.1% in the second quarter. Lazard Asset Management LLC now owns 1,448,515 shares of the financial services provider’s stock valued at $82,318,000 after buying an additional 308,460 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Commerce Bancshares by 5.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,288,663 shares of the financial services provider’s stock valued at $72,371,000 after buying an additional 61,106 shares during the last quarter. 62.13% of the stock is owned by institutional investors and hedge funds.
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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