Jefferies Group LLC reaffirmed their hold rating on shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) in a research note issued to investors on Tuesday. They currently have a $61.00 price objective on the financial services provider’s stock.
A number of other equities research analysts have also issued reports on CBSH. Barclays PLC raised their price target on shares of Commerce Bancshares from $47.00 to $55.00 and gave the stock an equal weight rating in a report on Tuesday, December 6th. Wells Fargo & Co started coverage on shares of Commerce Bancshares in a research report on Friday, January 6th. They issued a market perform rating for the company. Finally, Zacks Investment Research cut shares of Commerce Bancshares from a buy rating to a hold rating in a research report on Monday, January 23rd. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $53.29.
Shares of Commerce Bancshares (NASDAQ:CBSH) traded up 1.50% on Tuesday, hitting $54.84. The stock had a trading volume of 209,793 shares. 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 $5.58 billion, a P/E ratio of 20.50 and a beta of 0.74. The company has a 50 day moving average of $56.29 and a 200-day moving average of $54.76.
Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Thursday, April 13th. The financial services provider reported $0.68 EPS for the quarter, beating the Thomson Reuters’ 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 quarter last year, the firm earned $0.62 EPS. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. Equities analysts predict that Commerce Bancshares will post $2.83 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Monday, June 26th. Stockholders of record on Friday, June 9th will be paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.67%. Commerce Bancshares’s dividend payout ratio is presently 34.44%.
In related news, insider Patricia R. Kellerhals sold 604 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 5,563 shares in the company, valued at $303,183.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charles G. Kim sold 9,106 shares of the business’s stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $57.19, for a total transaction of $520,772.14. Following the sale, the insider now owns 96,712 shares of the company’s stock, valued at $5,530,959.28. The disclosure for this sale can be found here. Insiders sold 71,209 shares of company stock valued at $4,030,367 over the last quarter. Company insiders own 4.60% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV purchased a new position in shares of Commerce Bancshares during the fourth quarter valued at $108,000. MUFG Americas Holdings Corp increased its position in shares of 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 in the last quarter. Mosaic Family Wealth LLC increased its position in Commerce Bancshares by 11.2% in the third quarter. Mosaic Family Wealth LLC now owns 2,889 shares of the financial services provider’s stock valued at $142,000 after buying an additional 291 shares during the period. Envestnet Asset Management Inc. increased its position in Commerce Bancshares by 67.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,173 shares of the financial services provider’s stock valued at $185,000 after buying an additional 1,273 shares during the period. Finally, Tudor Investment Corp Et Al bought a new position in Commerce Bancshares during the fourth quarter valued at approximately $206,000. 57.14% of the stock is currently owned by institutional investors and hedge funds.
Commerce Bancshares Company Profile
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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