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%.
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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.
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