Commerce Bancshares (NASDAQ:CBSH) had its price target decreased by DA Davidson to $60.00 in a report released on Friday, The Fly reports. DA Davidson currently has a neutral rating on the financial services provider’s stock. DA Davidson also issued estimates for Commerce Bancshares’ Q2 2019 earnings at $0.89 EPS, Q3 2019 earnings at $0.88 EPS, Q4 2019 earnings at $0.88 EPS and FY2020 earnings at $3.55 EPS.
Other equities research analysts have also recently issued reports about the company. Stephens reiterated a hold rating and issued a $65.00 price target on shares of Commerce Bancshares in a research note on Wednesday, December 19th. Barclays reiterated a hold rating and issued a $65.00 price target on shares of Commerce Bancshares in a research note on Friday, January 11th. Raymond James upgraded Commerce Bancshares from an underperform rating to a market perform rating and set a $60.43 price target for the company in a research note on Friday, January 18th. They noted that the move was a valuation call. BidaskClub upgraded Commerce Bancshares from a sell rating to a hold rating in a research note on Thursday, January 31st. Finally, Zacks Investment Research cut Commerce Bancshares from a buy rating to a hold rating in a research note on Thursday, April 4th. Three equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The company has a consensus rating of Hold and a consensus price target of $62.68.
Shares of CBSH stock opened at $59.17 on Friday. Commerce Bancshares has a 1-year low of $53.40 and a 1-year high of $72.55. The stock has a market cap of $6.46 billion, a P/E ratio of 15.65, a P/E/G ratio of 3.53 and a beta of 0.74.
Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Thursday, April 11th. The financial services provider reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.06). Commerce Bancshares had a net margin of 30.39% and a return on equity of 15.95%. The company had revenue of $324.73 million for the quarter, compared to the consensus estimate of $333.99 million. On average, equities analysts expect that Commerce Bancshares will post 3.79 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were paid a $0.26 dividend. The ex-dividend date was Thursday, March 7th. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a yield of 1.76%. Commerce Bancshares’s dividend payout ratio (DPR) is 27.51%.
In other Commerce Bancshares news, EVP John K. Handy sold 1,634 shares of the stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $63.70, for a total value of $104,085.80. Following the completion of the sale, the executive vice president now directly owns 40,368 shares in the company, valued at $2,571,441.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Patricia R. Kellerhals sold 851 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $61.17, for a total value of $52,055.67. Following the completion of the sale, the insider now owns 6,127 shares of the company’s stock, valued at $374,788.59. The disclosure for this sale can be found here. Over the last quarter, insiders sold 94,093 shares of company stock valued at $5,735,892. 3.60% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in CBSH. Oregon Public Employees Retirement Fund raised its stake in shares of Commerce Bancshares by 5,818.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,190,482 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 2,153,473 shares during the last quarter. Norges Bank purchased a new position in shares of Commerce Bancshares in the fourth quarter worth about $45,661,000. BlackRock Inc. raised its stake in shares of Commerce Bancshares by 8.0% in the fourth quarter. BlackRock Inc. now owns 9,340,462 shares of the financial services provider’s stock worth $526,523,000 after purchasing an additional 695,399 shares during the last quarter. Findlay Park Partners LLP raised its stake in shares of Commerce Bancshares by 58.3% in the fourth quarter. Findlay Park Partners LLP now owns 1,583,037 shares of the financial services provider’s stock worth $89,236,000 after purchasing an additional 583,037 shares during the last quarter. Finally, Vanguard Group Inc raised its stake in shares of Commerce Bancshares by 3.1% in the third quarter. Vanguard Group Inc now owns 9,851,300 shares of the financial services provider’s stock worth $650,384,000 after purchasing an additional 300,762 shares during the last quarter. Hedge funds and other institutional investors own 64.17% of the company’s stock.
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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