Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have been assigned a consensus rating of “Hold” from the ten brokerages that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $60.18.
CBSH has been the subject of several analyst reports. Zacks Investment Research downgraded Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. BidaskClub downgraded Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, March 15th. Stephens restated a “hold” rating and issued a $62.00 target price on shares of Commerce Bancshares in a research report on Thursday, April 11th. Finally, DA Davidson cut their target price on Commerce Bancshares to $60.00 and set a “neutral” rating for the company in a research report on Friday, April 12th.
In other news, insider John K. Handy sold 3,541 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $61.79, for a total transaction of $218,798.39. Following the completion of the sale, the insider now owns 35,251 shares in the company, valued at approximately $2,178,159.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Patricia R. Kellerhals sold 851 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $61.17, for a total value of $52,055.67. Following the sale, the insider now owns 6,127 shares of the company’s stock, valued at approximately $374,788.59. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.
Large investors have recently made changes to their positions in the company. Gemmer Asset Management LLC lifted its position in shares of Commerce Bancshares by 79.4% during the 1st quarter. Gemmer Asset Management LLC now owns 452 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 200 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new stake in shares of Commerce Bancshares during the 1st quarter valued at $26,000. Pearl River Capital LLC acquired a new stake in shares of Commerce Bancshares during the 4th quarter valued at $28,000. CX Institutional acquired a new stake in shares of Commerce Bancshares during the 1st quarter valued at $28,000. Finally, Oregon Public Employees Retirement Fund lifted its position in shares of Commerce Bancshares by 5,818.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,190,482 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 2,153,473 shares during the last quarter. Institutional investors own 63.08% of the company’s stock.
Shares of NASDAQ CBSH traded down $0.14 during midday trading on Wednesday, hitting $58.90. 342,100 shares of the company’s stock were exchanged, compared to its average volume of 440,896. The company has a market cap of $6.52 billion, a PE ratio of 15.58, a P/E/G ratio of 2.01 and a beta of 0.75. Commerce Bancshares has a twelve month low of $53.40 and a twelve month high of $72.55.
Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Thursday, April 11th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.91 by ($0.06). The business had revenue of $324.73 million for the quarter, compared to analyst estimates of $333.99 million. Commerce Bancshares had a return on equity of 15.65% and a net margin of 30.39%. As a group, equities research analysts forecast that Commerce Bancshares will post 3.67 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, June 7th will be given a $0.26 dividend. The ex-dividend date is Thursday, June 6th. This represents a $1.04 dividend on an annualized basis and a yield of 1.77%. Commerce Bancshares’s dividend payout ratio (DPR) is 27.51%.
About Commerce Bancshares
Commerce Bancshares, Inc operates as the bank holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online banking services.
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