Commerce Bancshares, Inc. (NASDAQ:CBSH) Receives Consensus Recommendation of “Sell” from Brokerages

Commerce Bancshares, Inc. (NASDAQ:CBSH) has received a consensus recommendation of “Sell” from the seven analysts that are covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $57.40.

A number of equities analysts have weighed in on CBSH shares. Stephens reissued a “hold” rating and issued a $59.00 price objective on shares of Commerce Bancshares in a research report on Wednesday, October 16th. DA Davidson upped their price objective on shares of Commerce Bancshares to $69.00 and gave the company a “neutral” rating in a research report on Tuesday, December 24th. Wells Fargo & Co cut shares of Commerce Bancshares from an “equal weight” rating to an “underweight” rating and set a $55.00 price objective for the company. in a research report on Monday, January 6th. They noted that the move was a valuation call. Morgan Stanley upped their price objective on shares of Commerce Bancshares from $52.38 to $54.00 and gave the company an “underweight” rating in a research report on Wednesday, December 4th. Finally, BidaskClub cut shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday.

Shares of Commerce Bancshares stock opened at $67.23 on Thursday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.09. The company has a fifty day moving average price of $66.91 and a 200 day moving average price of $62.15. The stock has a market cap of $7.59 billion, a price-to-earnings ratio of 18.68, a price-to-earnings-growth ratio of 6.61 and a beta of 0.78. Commerce Bancshares has a twelve month low of $54.65 and a twelve month high of $68.65.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. The company had revenue of $336.30 million during the quarter, compared to analysts’ expectations of $337.31 million. Commerce Bancshares had a net margin of 29.34% and a return on equity of 14.52%. The firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 EPS. Analysts forecast that Commerce Bancshares will post 3.54 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.55%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 28.89%.

In other news, EVP Kevin G. Barth sold 6,837 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $64.15, for a total value of $438,593.55. Following the sale, the executive vice president now owns 77,100 shares in the company, valued at approximately $4,945,965. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John W. Kemper sold 10,041 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $64.24, for a total transaction of $645,033.84. Following the completion of the sale, the chief executive officer now owns 142,239 shares in the company, valued at approximately $9,137,433.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,385 shares of company stock worth $2,944,406. Company insiders own 3.60% of the company’s stock.

Institutional investors have recently modified their holdings of the company. BBVA USA Bancshares Inc. raised its stake in shares of Commerce Bancshares by 2.7% in the 3rd quarter. BBVA USA Bancshares Inc. now owns 15,502 shares of the financial services provider’s stock valued at $940,000 after purchasing an additional 407 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in Commerce Bancshares by 1.2% during the third quarter. Parametric Portfolio Associates LLC now owns 184,183 shares of the financial services provider’s stock worth $11,171,000 after acquiring an additional 2,219 shares during the period. Barber Financial Group Inc. raised its stake in Commerce Bancshares by 6.8% during the third quarter. Barber Financial Group Inc. now owns 16,628 shares of the financial services provider’s stock worth $1,008,000 after acquiring an additional 1,053 shares during the period. First Trust Advisors LP raised its stake in Commerce Bancshares by 10.9% during the third quarter. First Trust Advisors LP now owns 182,261 shares of the financial services provider’s stock worth $11,054,000 after acquiring an additional 17,949 shares during the period. Finally, Citadel Advisors LLC raised its stake in Commerce Bancshares by 21.3% during the second quarter. Citadel Advisors LLC now owns 10,588 shares of the financial services provider’s stock worth $632,000 after acquiring an additional 1,858 shares during the period. Institutional investors and hedge funds 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.

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Analyst Recommendations for Commerce Bancshares (NASDAQ:CBSH)

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