UBS AG Lowers Commerce Bancshares, Inc. (CBSH) to Underperform

UBS AG cut shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) to an underperform rating in a report released on Thursday, The Fly reports.

A number of other equities analysts have also recently issued reports on CBSH. BidaskClub cut Commerce Bancshares from a hold rating to a sell rating in a report on Wednesday, July 12th. Jefferies Group LLC reiterated a hold rating and issued a $61.00 target price on shares of Commerce Bancshares in a report on Sunday, June 11th. Keefe, Bruyette & Woods reiterated a sell rating and issued a $46.00 target price on shares of Commerce Bancshares in a report on Monday, June 12th. Zacks Investment Research upgraded Commerce Bancshares from a hold rating to a buy rating and set a $65.00 target price for the company in a report on Monday, July 17th. Finally, Piper Jaffray Companies lowered their target price on Commerce Bancshares from $55.00 to $52.00 and set a neutral rating for the company in a report on Wednesday, April 19th. Five analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $55.00.

Commerce Bancshares (NASDAQ CBSH) traded down 0.27% during trading on Thursday, reaching $55.22. The company’s stock had a trading volume of 368,459 shares. The firm’s 50-day moving average price is $57.34 and its 200 day moving average price is $56.49. The company 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 12-month low of $45.37 and a 12-month high of $60.61.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, July 13th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.05. Commerce Bancshares had a return on equity of 12.01% and a net margin of 23.79%. The company had revenue of $305.89 million during the quarter, compared to analysts’ expectations of $309.44 million. During the same quarter in the previous year, the business earned $0.70 EPS. Commerce Bancshares’s revenue was up 6.1% compared to the same quarter last year. On average, analysts predict that Commerce Bancshares will post $2.94 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This story was originally published by Community Financial News and is the property of of Community Financial News. If you are reading this story on another publication, it was stolen and republished in violation of U.S. and international copyright & trademark laws. The correct version of this story can be read at https://www.com-unik.info/2017/08/13/ubs-ag-lowers-commerce-bancshares-inc-cbsh-to-underperform.html.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 25th. Shareholders of record on Friday, September 8th will be issued a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Thursday, September 7th. Commerce Bancshares’s dividend payout ratio is 32.64%.

In other news, Vice Chairman Jonathan M. Kemper sold 36,979 shares of the business’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 completion of the transaction, the insider now directly owns 1,045,605 shares of the company’s stock, valued at approximately $56,567,230.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jeffery D. Aberdeen sold 687 shares of the business’s 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 completion of the transaction, the insider now directly owns 40,232 shares of the company’s stock, valued at $2,377,308.88. The disclosure for this sale can be found here. Insiders sold a total of 48,099 shares of company stock valued at $2,643,431 over the last quarter. Company insiders own 4.30% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Comerica Bank raised its position in Commerce Bancshares by 3.3% in the first quarter. Comerica Bank now owns 93,208 shares of the financial services provider’s stock valued at $5,224,000 after buying an additional 3,017 shares during the last quarter. Wesbanco Bank Inc. raised its position in Commerce Bancshares by 11.2% in the first quarter. Wesbanco Bank Inc. now owns 9,300 shares of the financial services provider’s stock valued at $522,000 after buying an additional 940 shares during the last quarter. Elkfork Partners LLC raised its position in Commerce Bancshares by 18.2% in the first quarter. Elkfork Partners LLC now owns 7,282 shares of the financial services provider’s stock valued at $409,000 after buying an additional 1,122 shares during the last quarter. Rafferty Asset Management LLC raised its position in Commerce Bancshares by 260.6% in the first quarter. Rafferty Asset Management LLC now owns 15,822 shares of the financial services provider’s stock valued at $889,000 after buying an additional 11,434 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new position in Commerce Bancshares during the first quarter valued at approximately $64,025,000. 62.13% of the stock is owned by hedge funds and other 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.

The Fly

Analyst Recommendations for Commerce Bancshares (NASDAQ:CBSH)

What are top analysts saying about Commerce Bancshares Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Commerce Bancshares Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit