Commerce Bancshares, Inc. (NASDAQ:CBSH) had its price objective lifted by investment analysts at Barclays PLC from $54.00 to $55.00 in a note issued to investors on Wednesday. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Barclays PLC’s price objective would indicate a potential upside of 0.05% from the stock’s current price.
CBSH has been the topic of a number of other reports. Wells Fargo & Co began coverage on shares of Commerce Bancshares in a research report on Friday, January 6th. They set a “market perform” rating on the stock. Zacks Investment Research downgraded shares of Commerce Bancshares from a “buy” rating to a “hold” rating in a research report on Monday, January 23rd. Jefferies Group LLC reiterated a “hold” rating and set a $61.00 target price on shares of Commerce Bancshares in a research report on Tuesday, April 4th. Keefe, Bruyette & Woods reiterated a “sell” rating and set a $46.00 target price on shares of Commerce Bancshares in a research report on Wednesday, April 5th. Finally, Stephens reiterated a “hold” rating on shares of Commerce Bancshares in a research report on Monday. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Commerce Bancshares has a consensus rating of “Hold” and an average price target of $53.29.
Shares of Commerce Bancshares (NASDAQ:CBSH) traded up 1.74% during trading on Wednesday, reaching $54.97. 387,415 shares of the company traded hands. The company has a 50 day moving average price of $56.29 and a 200 day moving average price of $54.76. Commerce Bancshares has a 12-month low of $42.44 and a 12-month high of $60.61. The firm has a market capitalization of $5.59 billion, a price-to-earnings ratio of 20.55 and a beta of 0.74.
Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, April 13th. The financial services provider reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.03. Commerce Bancshares had a net margin of 23.19% and a return on equity of 11.65%. The company had revenue of $295.30 million for the quarter, compared to analyst estimates of $298.61 million. During the same period in the prior year, the firm posted $0.62 EPS. The company’s quarterly revenue was up 4.4% on a year-over-year basis. On average, equities analysts predict that Commerce Bancshares will post $2.83 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 26th. Investors of record on Friday, June 9th will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.64%. Commerce Bancshares’s payout ratio is presently 34.44%.
ILLEGAL ACTIVITY NOTICE: “Barclays PLC Increases Commerce Bancshares, Inc. (CBSH) Price Target to $55.00” was originally posted by WKRB News and is the property of of WKRB News. If you are reading this story on another website, it was illegally stolen and republished in violation of US and international copyright laws. The legal version of this story can be accessed at http://www.wkrb13.com/markets/2064760/commerce-bancshares-cbsh-equal-weight-rating-reaffirmed-at-barclays-plc.html.
In related news, insider Patricia R. Kellerhals sold 604 shares of the business’s stock in a transaction on Wednesday, April 19th. The shares were sold at an average price of $54.50, for a total transaction of $32,918.00. Following the transaction, the insider now owns 5,563 shares in the company, valued at approximately $303,183.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider V Raymond Stranghoener sold 5,499 shares of the business’s stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $59.55, for a total transaction of $327,465.45. Following the transaction, the insider now owns 52,919 shares in the company, valued at approximately $3,151,326.45. The disclosure for this sale can be found here. Insiders have sold a total of 71,209 shares of company stock worth $4,030,367 in the last quarter. 4.60% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Fund Advisors increased its position in Commerce Bancshares by 4.3% in the third quarter. BlackRock Fund Advisors now owns 3,149,247 shares of the financial services provider’s stock valued at $155,132,000 after buying an additional 130,170 shares during the last quarter. Baird Financial Group Inc. acquired a new position in Commerce Bancshares during the fourth quarter valued at $1,267,000. Norges Bank acquired a new position in Commerce Bancshares during the fourth quarter valued at $44,629,000. BlackRock Investment Management LLC increased its position in Commerce Bancshares by 0.9% in the third quarter. BlackRock Investment Management LLC now owns 248,244 shares of the financial services provider’s stock valued at $12,228,000 after buying an additional 2,218 shares during the last quarter. Finally, MUFG Americas Holdings Corp increased its position in Commerce Bancshares by 5.0% in the fourth quarter. MUFG Americas Holdings Corp now owns 2,056 shares of the financial services provider’s stock valued at $119,000 after buying an additional 97 shares during the last quarter. Hedge funds and other institutional investors own 57.14% of the company’s stock.
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.
This story was originally published by WKRB News (http://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://www.wkrb13.com/markets/2064760/commerce-bancshares-cbsh-equal-weight-rating-reaffirmed-at-barclays-plc.html
Receive News & Ratings for Commerce Bancshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commerce Bancshares Inc. and related companies with MarketBeat.com's FREE daily email newsletter.