Commerce Bancshares (NASDAQ:CBSH) had its price target raised by Barclays from $55.00 to $59.00 in a report issued on Tuesday, MarketBeat.com reports. They currently have an equal weight rating on the financial services provider’s stock.
Several other equities analysts have also issued reports on the company. BidaskClub raised Commerce Bancshares from a sell rating to a hold rating in a research note on Thursday, December 28th. Zacks Investment Research downgraded Commerce Bancshares from a hold rating to a sell rating in a report on Tuesday, December 12th. Piper Jaffray Companies restated a neutral rating and set a $60.00 price target on shares of Commerce Bancshares in a report on Friday, October 6th. Finally, Keefe, Bruyette & Woods reiterated a sell rating and issued a $51.00 price objective on shares of Commerce Bancshares in a report on Friday, September 15th. Six research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Commerce Bancshares currently has an average rating of Sell and a consensus price target of $56.75.
Commerce Bancshares (NASDAQ CBSH) traded down $0.06 during trading on Tuesday, hitting $55.66. The stock had a trading volume of 406,300 shares, compared to its average volume of 432,833. The stock has a market capitalization of $5,946.13, a PE ratio of 20.72, a PEG ratio of 3.03 and a beta of 0.80. Commerce Bancshares has a 1-year low of $51.90 and a 1-year high of $60.61. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.68 and a quick ratio of 0.68.
Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, October 12th. The financial services provider reported $0.71 EPS for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.03). The business had revenue of $304.83 million during the quarter, compared to analysts’ expectations of $317.28 million. Commerce Bancshares had a net margin of 23.93% and a return on equity of 12.08%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.68 earnings per share. equities analysts forecast that Commerce Bancshares will post 2.76 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, December 18th. Investors of record on Thursday, November 30th were issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date was Wednesday, November 29th. Commerce Bancshares’s payout ratio is currently 33.51%.
In related news, insider V Raymond Stranghoener sold 6,399 shares of the business’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $58.40, for a total value of $373,701.60. Following the completion of the sale, the insider now directly owns 47,112 shares of the company’s stock, valued at $2,751,340.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Vice Chairman Jonathan M. Kemper sold 55,000 shares of the business’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $55.06, for a total value of $3,028,300.00. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC lifted its position in Commerce Bancshares by 27.1% in the second quarter. Lazard Asset Management LLC now owns 1,448,515 shares of the financial services provider’s stock worth $82,318,000 after purchasing an additional 308,460 shares during the period. Schroder Investment Management Group increased its holdings in shares of Commerce Bancshares by 53.0% during the second quarter. Schroder Investment Management Group now owns 831,785 shares of the financial services provider’s stock worth $47,686,000 after buying an additional 288,009 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Commerce Bancshares by 2.9% in the second quarter. Vanguard Group Inc. now owns 8,599,122 shares of the financial services provider’s stock valued at $488,688,000 after purchasing an additional 246,065 shares in the last quarter. Janus Henderson Group PLC bought a new position in Commerce Bancshares in the second quarter valued at approximately $8,022,000. Finally, State of Tennessee Treasury Department boosted its stake in Commerce Bancshares by 366.7% in the third quarter. State of Tennessee Treasury Department now owns 140,000 shares of the financial services provider’s stock valued at $8,088,000 after acquiring an additional 110,000 shares during the last quarter. Institutional investors and hedge funds own 59.14% of the company’s stock.
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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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