Commerce Bancshares (CBSH) Receives Hold Rating from Barclays

Barclays reiterated their hold rating on shares of Commerce Bancshares (NASDAQ:CBSH) in a research note released on Sunday morning. Barclays currently has a $55.00 target price on the financial services provider’s stock.

Other research analysts also recently issued reports about the company. 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 research note on Friday, October 6th. Piper Jaffray Companies reiterated a neutral rating and set a $60.00 target price on shares of Commerce Bancshares in a research note on Friday, October 6th. Keefe, Bruyette & Woods reiterated a sell rating and set a $51.00 target price on shares of Commerce Bancshares in a research note on Friday, September 15th. Finally, BidaskClub upgraded Commerce Bancshares from a strong sell rating to a sell rating in a research note on Friday. Six analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock currently has a consensus rating of Sell and an average target price of $56.25.

Commerce Bancshares (NASDAQ CBSH) opened at $56.75 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.68 and a quick ratio of 0.68. The firm has a market capitalization of $6,060.00, a P/E ratio of 21.18, a price-to-earnings-growth ratio of 3.31 and a beta of 0.80. Commerce Bancshares has a one year low of $51.90 and a one year high of $60.61.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Thursday, October 12th. The financial services provider reported $0.71 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.03). The company had revenue of $304.83 million during the quarter, compared to the consensus estimate of $317.28 million. Commerce Bancshares had a net margin of 24.59% and a return on equity of 11.38%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.68 earnings per share. equities research analysts predict that Commerce Bancshares will post 2.77 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, December 18th. Stockholders of record on Thursday, November 30th were paid a dividend of $0.225 per share. The ex-dividend date was Wednesday, November 29th. This represents a $0.90 annualized dividend and a dividend yield of 1.59%. Commerce Bancshares’s dividend payout ratio is currently 33.58%.

In related news, insider V Raymond Stranghoener sold 6,399 shares of Commerce Bancshares stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $58.40, for a total transaction of $373,701.60. Following the completion of the sale, the insider now directly owns 47,112 shares of the company’s stock, valued at approximately $2,751,340.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Jonathan M. Kemper sold 55,000 shares of Commerce Bancshares stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $55.06, for a total value of $3,028,300.00. The disclosure for this sale can be found here. Insiders own 4.30% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its holdings in Commerce Bancshares by 3.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,083,851 shares of the financial services provider’s stock worth $62,613,000 after purchasing an additional 35,361 shares during the last quarter. Cetera Investment Advisers acquired a new stake in Commerce Bancshares during the 2nd quarter worth approximately $272,000. Nuance Investments LLC lifted its holdings in Commerce Bancshares by 4.3% during the 3rd quarter. Nuance Investments LLC now owns 996,414 shares of the financial services provider’s stock worth $57,563,000 after purchasing an additional 40,997 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Commerce Bancshares by 1.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 468,110 shares of the financial services provider’s stock worth $26,603,000 after purchasing an additional 8,179 shares during the last quarter. Finally, WBI Investments Inc. acquired a new stake in Commerce Bancshares during the 2nd quarter worth approximately $2,496,000. 59.14% of the stock is owned by institutional investors and hedge funds.

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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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