Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH – Get Free Report) have been assigned an average recommendation of “Hold” from the ten ratings firms that are covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $63.2857.
A number of research analysts have weighed in on CBSH shares. Wells Fargo & Company set a $63.00 price target on shares of Commerce Bancshares and gave the company an “equal weight” rating in a research report on Monday, August 10th. Morgan Stanley restated a “positive” rating and set a $65.00 target price (up from $61.00) on shares of Commerce Bancshares in a report on Monday, June 29th. TD Cowen reaffirmed a “hold” rating and set a $63.00 price target (up from $62.00) on shares of Commerce Bancshares in a research report on Friday, July 17th. Wall Street Zen upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, July 28th. Finally, Weiss Ratings raised Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, July 21st.
View Our Latest Report on CBSH
Commerce Bancshares Price Performance
Commerce Bancshares (NASDAQ:CBSH – Get Free Report) last posted its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.06. Commerce Bancshares had a net margin of 26.07% and a return on equity of 14.31%. The company had revenue of $498.91 million during the quarter, compared to the consensus estimate of $492.22 million. During the same quarter in the prior year, the company posted $1.14 EPS. As a group, sell-side analysts anticipate that Commerce Bancshares will post 4.23 earnings per share for the current year.
Commerce Bancshares Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Friday, September 4th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.10 annualized dividend and a yield of 1.9%. Commerce Bancshares’s payout ratio is 26.63%.
Insider Buying and Selling at Commerce Bancshares
In other news, CFO Charles G. Kim sold 19,771 shares of the stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $59.18, for a total transaction of $1,170,047.78. Following the completion of the transaction, the chief financial officer directly owned 119,410 shares in the company, valued at approximately $7,066,683.80. This represents a 14.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Robert S. Holmes sold 5,000 shares of the firm’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $60.20, for a total transaction of $301,000.00. Following the transaction, the executive vice president directly owned 55,962 shares of the company’s stock, valued at approximately $3,368,912.40. This represents a 8.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 33,150 shares of company stock valued at $1,974,783. 1.80% of the stock is owned by company insiders.
Institutional Investors Weigh In On Commerce Bancshares
A number of institutional investors have recently modified their holdings of CBSH. Danske Bank A S acquired a new position in Commerce Bancshares in the third quarter valued at approximately $25,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of Commerce Bancshares during the 2nd quarter worth approximately $29,000. Geneos Wealth Management Inc. raised its position in shares of Commerce Bancshares by 85.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 216 shares during the period. Root Financial Partners LLC lifted its stake in Commerce Bancshares by 104.9% in the first quarter. Root Financial Partners LLC now owns 623 shares of the financial services provider’s stock valued at $31,000 after buying an additional 319 shares during the last quarter. Finally, Rothschild Investment LLC lifted its position in Commerce Bancshares by 75.3% in the 4th quarter. Rothschild Investment LLC now owns 1,031 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 443 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.
About Commerce Bancshares
Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.
The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.
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