Commerce Bancshares (CBSH) Rating Reiterated by Piper Jaffray Companies

Piper Jaffray Companies reissued their hold rating on shares of Commerce Bancshares (NASDAQ:CBSH) in a research report sent to investors on Tuesday. They currently have a $58.00 price target on the financial services provider’s stock.

Several other research analysts have also recently issued reports on the company. Zacks Investment Research raised Commerce Bancshares from a hold rating to a buy rating and set a $63.00 target price on the stock in a research report on Monday, January 8th. BidaskClub cut Commerce Bancshares from a hold rating to a sell rating in a research report on Thursday, January 4th. Barclays boosted their price objective on Commerce Bancshares from $55.00 to $59.00 and gave the stock an equal weight rating in a research report on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods reissued a sell rating and issued a $51.00 price objective on shares of Commerce Bancshares in a research report on Friday, September 15th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $56.25.

Commerce Bancshares (NASDAQ:CBSH) opened at $57.95 on Tuesday. The stock has a market capitalization of $6,195.84, a P/E ratio of 21.58, a P/E/G ratio of 2.28 and a beta of 0.80. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.04. Commerce Bancshares has a 1 year low of $51.90 and a 1 year high of $60.61.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, October 12th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.03). The company had revenue of $304.83 million for the quarter, compared to analysts’ expectations of $317.28 million. Commerce Bancshares had a net margin of 23.93% and a return on equity of 12.08%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 EPS. research analysts forecast that Commerce Bancshares will post 2.76 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 18th. Shareholders of record on Thursday, November 30th were given a $0.225 dividend. The ex-dividend date was Wednesday, November 29th. This represents a $0.90 annualized dividend and a yield of 1.55%. Commerce Bancshares’s dividend payout ratio is currently 33.51%.

In other news, insider V Raymond Stranghoener sold 6,399 shares of the company’s stock in a transaction 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 transaction, the insider now owns 47,112 shares of the company’s stock, valued at approximately $2,751,340.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Jonathan M. Kemper sold 55,000 shares of the company’s stock in a transaction on Monday, December 11th. The shares were 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. 4.30% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp lifted its position in shares of 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 valued at $62,613,000 after buying an additional 35,361 shares during the last quarter. Cetera Investment Advisers purchased a new position in shares of Commerce Bancshares during the 2nd quarter valued at $272,000. Nuance Investments LLC lifted its position in shares of Commerce Bancshares by 4.3% during the 3rd quarter. Nuance Investments LLC now owns 996,414 shares of the financial services provider’s stock valued at $57,563,000 after buying an additional 40,997 shares during the last quarter. Schroder Investment Management Group lifted its position in shares of Commerce Bancshares by 1.5% during the 3rd quarter. Schroder Investment Management Group now owns 844,628 shares of the financial services provider’s stock valued at $48,491,000 after buying an additional 12,843 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of 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 valued at $26,603,000 after buying an additional 8,179 shares during the last quarter. 59.14% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Commerce Bancshares (NASDAQ:CBSH)

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