Other equities research analysts have also recently issued reports about the company. Zacks Investment Research raised Commerce Bancshares from a sell rating to a hold rating in a research note on Wednesday, May 15th. DA Davidson cut their target price on Commerce Bancshares to $60.00 and set a neutral rating on the stock in a research note on Friday, April 12th. Finally, Stephens reissued a hold rating and issued a $62.00 target price on shares of Commerce Bancshares in a research note on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The company currently has an average rating of Hold and an average target price of $60.18.
NASDAQ CBSH opened at $58.96 on Tuesday. Commerce Bancshares has a 12 month low of $53.40 and a 12 month high of $72.55. The firm has a market capitalization of $6.51 billion, a PE ratio of 15.69, a P/E/G ratio of 2.01 and a beta of 0.75.
Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Thursday, April 11th. The financial services provider reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.06). Commerce Bancshares had a return on equity of 15.65% and a net margin of 30.39%. The company had revenue of $324.73 million during the quarter, compared to analysts’ expectations of $333.99 million. As a group, equities research analysts anticipate that Commerce Bancshares will post 3.67 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, June 7th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.76%. Commerce Bancshares’s dividend payout ratio is currently 27.51%.
In related news, insider John K. Handy sold 3,541 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $61.79, for a total transaction of $218,798.39. Following the sale, the insider now directly owns 35,251 shares of the company’s stock, valued at $2,178,159.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.60% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc boosted its position in shares of Commerce Bancshares by 3.1% during the third quarter. Vanguard Group Inc now owns 9,851,300 shares of the financial services provider’s stock valued at $650,384,000 after buying an additional 300,762 shares during the last quarter. BlackRock Inc. boosted its position in shares of Commerce Bancshares by 1.2% during the first quarter. BlackRock Inc. now owns 9,449,871 shares of the financial services provider’s stock valued at $548,659,000 after buying an additional 109,409 shares during the last quarter. Commerce Bank boosted its position in shares of Commerce Bancshares by 2.5% during the first quarter. Commerce Bank now owns 7,240,002 shares of the financial services provider’s stock valued at $420,355,000 after buying an additional 176,566 shares during the last quarter. Lazard Asset Management LLC boosted its position in shares of Commerce Bancshares by 4.9% during the first quarter. Lazard Asset Management LLC now owns 3,903,818 shares of the financial services provider’s stock valued at $226,653,000 after buying an additional 183,177 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in shares of Commerce Bancshares by 5,818.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,190,482 shares of the financial services provider’s stock valued at $39,000 after buying an additional 2,153,473 shares during the last quarter. 63.08% of the stock is currently owned by institutional investors.
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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