Commerce Bancshares, Inc. (NASDAQ:CBSH)‘s stock had its “hold” rating reaffirmed by research analysts at Jefferies Group LLC in a research note issued to investors on Friday. They presently have a $61.00 price objective on the financial services provider’s stock. Jefferies Group LLC’s price objective indicates a potential upside of 10.47% from the company’s previous close.
Several other analysts have also weighed in on the company. Piper Jaffray Companies decreased their price target on Commerce Bancshares from $55.00 to $52.00 and set a “neutral” rating on the stock in a report on Wednesday, April 19th. Barclays PLC increased their price target on Commerce Bancshares from $54.00 to $55.00 and gave the company an “equal weight” rating in a report on Wednesday, April 19th. Stephens restated a “hold” rating on shares of Commerce Bancshares in a report on Monday, April 17th. UBS AG lowered Commerce Bancshares to an “underperform” rating in a report on Thursday. Finally, Raymond James Financial, Inc. restated an “underperform” rating on shares of Commerce Bancshares in a report on Thursday. Five equities research 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 stock presently has an average rating of “Hold” and a consensus price target of $55.00.
Commerce Bancshares (NASDAQ:CBSH) opened at 55.22 on Friday. The stock has a 50 day moving average of $57.34 and a 200 day moving average of $56.49. The company has a market cap of $5.61 billion, a PE 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 issued its quarterly earnings data on Thursday, July 13th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.05. The business had revenue of $305.89 million for the quarter, compared to analysts’ expectations of $309.44 million. Commerce Bancshares had a return on equity of 12.01% and a net margin of 23.79%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 EPS. On average, analysts anticipate that Commerce Bancshares will post $2.94 earnings per share for the current fiscal year.
In other Commerce Bancshares news, Vice Chairman Jonathan M. Kemper sold 36,979 shares of the company’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $54.10, for a total value of $2,000,563.90. Following the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman David W. Kemper sold 10,132 shares of the company’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $57.83, for a total value of $585,933.56. Following the completion of the transaction, the chairman now directly owns 1,270,757 shares in the company, valued at approximately $73,487,877.31. The disclosure for this sale can be found here. Insiders sold a total of 48,099 shares of company stock worth $2,643,431 in the last ninety days. 4.30% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in CBSH. Captrust Financial Advisors acquired a new position in shares of Commerce Bancshares during the second quarter valued at approximately $106,000. Citizens Financial Group Inc. RI acquired a new position in shares of Commerce Bancshares during the first quarter valued at approximately $119,000. Citizens Financial Group Inc RI increased its position in shares of 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 valued at $151,000 after buying an additional 539 shares during the period. Mosaic Family Wealth LLC increased its position in shares of 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 valued at $175,000 after buying an additional 89 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of 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 valued at $190,000 after buying an additional 264 shares during the period. 62.13% of the stock is currently owned by institutional investors.
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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