Commerce Bancshares, Inc. (NASDAQ:CBSH) has earned a consensus rating of “Hold” from the eight analysts that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $58.00.
CBSH has been the subject of several recent research reports. DA Davidson raised their price objective on shares of Commerce Bancshares to $62.00 and gave the company a “neutral” rating in a research note on Wednesday, July 17th. BidaskClub raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday. Raymond James lowered shares of Commerce Bancshares from a “market perform” rating to an “underperform” rating in a research note on Monday, July 8th. Zacks Investment Research raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating and set a $50.00 price objective for the company in a research note on Wednesday, June 12th. Finally, Stephens reissued a “hold” rating and issued a $57.00 price objective on shares of Commerce Bancshares in a research note on Wednesday, August 14th.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in Commerce Bancshares by 21.8% in the second quarter. JPMorgan Chase & Co. now owns 1,844,892 shares of the financial services provider’s stock worth $108,536,000 after acquiring an additional 330,268 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in Commerce Bancshares in the second quarter worth approximately $14,048,000. Acadian Asset Management LLC lifted its stake in Commerce Bancshares by 4,558.4% in the first quarter. Acadian Asset Management LLC now owns 204,550 shares of the financial services provider’s stock worth $11,877,000 after acquiring an additional 200,159 shares during the last quarter. Lazard Asset Management LLC lifted its stake in Commerce Bancshares by 4.9% in the first quarter. Lazard Asset Management LLC now owns 3,903,818 shares of the financial services provider’s stock worth $226,653,000 after acquiring an additional 183,177 shares during the last quarter. Finally, Commerce Bank lifted its stake in Commerce Bancshares by 2.5% in the first quarter. Commerce Bank now owns 7,240,002 shares of the financial services provider’s stock worth $420,355,000 after acquiring an additional 176,566 shares during the last quarter. 65.79% of the stock is owned by institutional investors and hedge funds.
Shares of CBSH stock opened at $60.78 on Friday. The firm has a market cap of $6.57 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 2.96 and a beta of 0.75. The company has a 50-day moving average of $57.76 and a two-hundred day moving average of $59.13. Commerce Bancshares has a 1-year low of $53.40 and a 1-year high of $70.33.
Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $0.96 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.02. Commerce Bancshares had a net margin of 29.90% and a return on equity of 15.02%. The company had revenue of $338.90 million during the quarter, compared to analyst estimates of $339.94 million. During the same quarter last year, the firm posted $0.96 earnings per share. Commerce Bancshares’s revenue was up 4.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Commerce Bancshares will post 3.67 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, September 6th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Thursday, September 5th. Commerce Bancshares’s payout ratio is 27.51%.
Commerce Bancshares Company Profile
Commerce Bancshares, Inc operates as the bank holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online banking services.
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