The Analysts Set Commerce Bancshares Inc. (CBSH) PT at $44.70

The Analysts Set Commerce Bancshares Inc. (CBSH) PT at $44.70

Commerce Bancshares Inc. (NASDAQ:CBSH) has earned an average recommendation of “Hold” from the seven research firms that are covering the company. One analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $45.30.

CBSH has been the subject of several research reports. Zacks Investment Research upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, September 26th. Morgan Stanley downgraded Commerce Bancshares from an “equal weight” rating to an “underweight” rating and set a $45.00 price objective for the company. in a research report on Tuesday, September 20th. Jefferies Group restated a “hold” rating and set a $48.00 price objective on shares of Commerce Bancshares in a research report on Thursday, July 7th. Barclays PLC lifted their price objective on Commerce Bancshares from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, Piper Jaffray Cos. initiated coverage on Commerce Bancshares in a research report on Monday, July 11th. They set a “neutral” rating and a $43.50 price objective for the company.

Commerce Bancshares (NASDAQ:CBSH) opened at 49.50 on Tuesday. Commerce Bancshares has a 12 month low of $37.44 and a 12 month high of $51.30. The company has a 50-day moving average price of $49.58 and a 200 day moving average price of $47.84. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 18.97 and a beta of 0.74.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Wednesday, July 13th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.02. Commerce Bancshares had a net margin of 23.03% and a return on equity of 11.58%. The company earned $288.40 million during the quarter, compared to the consensus estimate of $295.65 million. During the same period last year, the firm earned $0.71 EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. Equities analysts predict that Commerce Bancshares will post $2.77 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, September 26th. Shareholders of record on Friday, September 9th were given a $0.225 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $0.90 dividend on an annualized basis and a yield of 1.82%. Commerce Bancshares’s payout ratio is 34.50%.

In other news, Vice Chairman Jonathan M. Kemper sold 50,000 shares of the firm’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $50.07, for a total transaction of $2,503,500.00. Following the transaction, the insider now owns 1,192,407 shares in the company, valued at approximately $59,703,818.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider V Raymond Stranghoener sold 4,964 shares of the firm’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $48.49, for a total transaction of $240,704.36. Following the transaction, the insider now owns 80,869 shares in the company, valued at approximately $3,921,337.81. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its position in Commerce Bancshares by 142.8% in the second quarter. JPMorgan Chase & Co. now owns 555,447 shares of the financial services provider’s stock worth $26,606,000 after buying an additional 326,694 shares in the last quarter. Principal Financial Group Inc. increased its position in Commerce Bancshares by 88.0% in the second quarter. Principal Financial Group Inc. now owns 518,053 shares of the financial services provider’s stock worth $24,827,000 after buying an additional 242,451 shares in the last quarter. Vanguard Group Inc. increased its position in Commerce Bancshares by 3.3% in the second quarter. Vanguard Group Inc. now owns 6,706,151 shares of the financial services provider’s stock worth $321,225,000 after buying an additional 217,230 shares in the last quarter. Martingale Asset Management L P increased its position in Commerce Bancshares by 76.5% in the second quarter. Martingale Asset Management L P now owns 447,072 shares of the financial services provider’s stock worth $21,416,000 after buying an additional 193,807 shares in the last quarter. Finally, Bank of Montreal Can acquired a new position in Commerce Bancshares during the second quarter worth $7,771,000. Institutional investors and hedge funds own 60.86% of the company’s stock.

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