Trading Report: The Barclays PLC Increases Commerce Bancshares Inc. (CBSH) Price Target to $48.00

The Barclays PLC Increases Commerce Bancshares Inc. (CBSH) Price Target to $48.00

Commerce Bancshares Inc. (NASDAQ:CBSH) had its price objective upped by equities researchers at Barclays PLC from $45.00 to $48.00 in a research note issued on Tuesday. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Barclays PLC’s price target would indicate a potential downside of 4.76% from the stock’s previous close.

A number of other research analysts also recently commented on the company. Zacks Investment Research upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a 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 on the stock. in a report on Tuesday, September 20th. Jefferies Group reiterated a “hold” rating on shares of Commerce Bancshares in a report on Thursday, August 18th. Finally, Piper Jaffray Cos. began coverage on Commerce Bancshares in a report on Monday, July 11th. They issued a “neutral” rating and a $43.50 price objective on the stock. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Commerce Bancshares has an average rating of “Hold” and a consensus target price of $45.75.

Commerce Bancshares (NASDAQ:CBSH) opened at 50.40 on Tuesday. The firm has a market capitalization of $4.87 billion, a P/E ratio of 19.31 and a beta of 0.74. The firm has a 50-day moving average price of $49.58 and a 200-day moving average price of $47.83. Commerce Bancshares has a one year low of $37.44 and a one year high of $51.30.

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

The company also recently declared a quarterly dividend, which was paid on Monday, September 26th. Investors of record on Friday, September 9th were paid a dividend of $0.225 per share. 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 1.79%. Commerce Bancshares’s dividend payout ratio is presently 34.50%.

In related news, insider V Raymond Stranghoener sold 4,964 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Jonathan M. Kemper sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $50.07, for a total value 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 disclosure for this sale can be found here. Corporate insiders own 4.60% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capstone Asset Management Co. boosted its stake in Commerce Bancshares by 1.0% in the third quarter. Capstone Asset Management Co. now owns 6,804 shares of the financial services provider’s stock worth $335,000 after buying an additional 69 shares during the last quarter. Creative Planning boosted its stake in Commerce Bancshares by 2.6% in the third quarter. Creative Planning now owns 100,953 shares of the financial services provider’s stock worth $4,973,000 after buying an additional 2,534 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Commerce Bancshares by 2.0% in the third quarter. Oregon Public Employees Retirement Fund now owns 28,758 shares of the financial services provider’s stock worth $1,417,000 after buying an additional 572 shares during the last quarter. Mason Street Advisors LLC bought a new stake in Commerce Bancshares during the second quarter worth $1,814,000. Finally, Public Employees Retirement System of Ohio boosted its stake in Commerce Bancshares by 30.8% in the second quarter. Public Employees Retirement System of Ohio now owns 36,618 shares of the financial services provider’s stock worth $1,754,000 after buying an additional 8,626 shares during the last quarter. Hedge funds and other institutional investors own 60.86% of the company’s stock.

Commerce Bancshares Company Profile

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