Commerce Bancshares, Inc. (NASDAQ:CBSH) Given Average Recommendation of “Hold” by Analysts

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have received a consensus rating of “Hold” from the eight analysts that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $58.40.

CBSH has been the topic of several analyst reports. DA Davidson upped their target price on Commerce Bancshares to $62.00 and gave the stock a “neutral” rating in a report on Wednesday, July 17th. Zacks Investment Research upgraded Commerce Bancshares from a “sell” rating to a “hold” rating and set a $50.00 target price on the stock in a report on Wednesday, June 12th. BidaskClub upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. Stephens initiated coverage on Commerce Bancshares in a report on Monday. They set a “weight” rating and a $59.00 target price on the stock. Finally, Raymond James lowered Commerce Bancshares from a “market perform” rating to an “underperform” rating in a report on Monday, July 8th.

CBSH traded down $0.19 on Friday, hitting $60.76. 8,529 shares of the company were exchanged, compared to its average volume of 357,785. Commerce Bancshares has a 12 month low of $53.40 and a 12 month high of $69.75. The company has a market cap of $6.73 billion, a PE ratio of 16.08, a PEG ratio of 3.03 and a beta of 0.75. The stock’s fifty day moving average is $57.87 and its 200-day moving average is $59.08.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Tuesday, July 16th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.02. Commerce Bancshares had a return on equity of 15.02% and a net margin of 29.90%. The business had revenue of $338.90 million for the quarter, compared to analyst estimates of $339.94 million. During the same quarter in the prior year, the company posted $0.96 earnings per share. Commerce Bancshares’s revenue was up 4.4% on a year-over-year basis. On average, equities research analysts predict that Commerce Bancshares will post 3.68 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Friday, September 6th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.04 annualized dividend and a yield of 1.71%. Commerce Bancshares’s dividend payout ratio is 27.51%.

Large investors have recently added to or reduced their stakes in the business. Nomura Asset Management Co. Ltd. bought a new stake in Commerce Bancshares in the second quarter valued at approximately $35,000. Synovus Financial Corp bought a new stake in Commerce Bancshares in the second quarter valued at approximately $49,000. Captrust Financial Advisors bought a new stake in Commerce Bancshares in the second quarter valued at approximately $50,000. Point72 Asset Management L.P. bought a new stake in Commerce Bancshares in the second quarter valued at approximately $60,000. Finally, Trustcore Financial Services LLC bought a new stake in Commerce Bancshares in the second quarter valued at approximately $75,000. Hedge funds and other institutional investors own 65.80% of the company’s stock.

Commerce Bancshares Company Profile

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.

Read More: Why is the conference call important?

Receive News & Ratings for Commerce Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commerce Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.