Commerce Bancshares, Inc. (NASDAQ:CBSH) has earned an average rating of “Hold” from the eight brokerages that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $58.00.
CBSH has been the subject of several analyst reports. DA Davidson lifted their price objective on Commerce Bancshares to $62.00 and gave the company a “neutral” rating in a report on Wednesday, July 17th. BidaskClub cut Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Zacks Investment Research raised Commerce Bancshares from a “sell” rating to a “hold” rating and set a $50.00 price objective for the company in a report on Wednesday, June 12th. Stephens reaffirmed a “hold” rating and issued a $57.00 price objective on shares of Commerce Bancshares in a report on Wednesday, August 14th. Finally, Raymond James cut Commerce Bancshares from a “market perform” rating to an “underperform” rating in a report on Monday, July 8th.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its position in shares of Commerce Bancshares by 12.8% during the fourth quarter. Geode Capital Management LLC now owns 1,086,439 shares of the financial services provider’s stock worth $61,242,000 after buying an additional 122,991 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Commerce Bancshares during the first quarter worth approximately $340,000. Creative Planning grew its position in shares of Commerce Bancshares by 1.9% during the first quarter. Creative Planning now owns 134,813 shares of the financial services provider’s stock worth $7,827,000 after buying an additional 2,534 shares in the last quarter. Virginia Retirement Systems ET AL grew its position in shares of Commerce Bancshares by 115.5% during the first quarter. Virginia Retirement Systems ET AL now owns 18,095 shares of the financial services provider’s stock worth $1,051,000 after buying an additional 9,700 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its position in shares of Commerce Bancshares by 61.4% during the first quarter. BNP Paribas Arbitrage SA now owns 67,746 shares of the financial services provider’s stock worth $3,933,000 after buying an additional 25,776 shares in the last quarter. 63.23% of the stock is owned by hedge funds and other institutional investors.
Commerce Bancshares (NASDAQ:CBSH) last released its quarterly 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. The business had revenue of $338.90 million during the quarter, compared to analysts’ expectations of $339.94 million. Commerce Bancshares had a return on equity of 15.02% and a net margin of 29.90%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the firm posted $0.96 EPS. As a group, equities analysts anticipate that Commerce Bancshares will post 3.68 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Friday, September 6th will be issued a $0.26 dividend. The ex-dividend date is Thursday, September 5th. This represents a $1.04 annualized dividend and a yield of 1.88%. Commerce Bancshares’s dividend payout ratio is presently 27.51%.
About Commerce Bancshares
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.
Receive News & Ratings for Commerce Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commerce Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.