Commerce Bancshares (CBSH) Lifted to Buy at BidaskClub

BidaskClub upgraded shares of Commerce Bancshares (NASDAQ:CBSH) from a hold rating to a buy rating in a report issued on Thursday morning.

A number of other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Commerce Bancshares from a hold rating to a sell rating in a research report on Tuesday, December 12th. Barclays reissued a hold rating and set a $55.00 price target on shares of Commerce Bancshares in a research report on Sunday, December 24th. Keefe, Bruyette & Woods reissued a sell rating and set a $54.00 price target on shares of Commerce Bancshares in a research report on Friday, January 19th. Finally, Piper Jaffray Companies reissued a hold rating and set a $58.00 price target on shares of Commerce Bancshares in a research report on Tuesday, January 9th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $57.88.

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Shares of CBSH stock opened at $61.49 on Thursday. Commerce Bancshares has a 1 year low of $51.90 and a 1 year high of $61.83. The firm has a market cap of $6,572.79, a P/E ratio of 21.22, a PEG ratio of 2.31 and a beta of 0.76.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. Commerce Bancshares had a net margin of 25.27% and a return on equity of 12.22%. The business had revenue of $314.22 million during the quarter, compared to the consensus estimate of $312.98 million. research analysts anticipate that Commerce Bancshares will post 3.36 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 26th. Shareholders of record on Friday, March 9th will be issued a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Thursday, March 8th. This is an increase from Commerce Bancshares’s previous quarterly dividend of $0.23. Commerce Bancshares’s payout ratio is currently 32.44%.

In other Commerce Bancshares news, Vice Chairman Jonathan M. Kemper sold 33,424 shares of Commerce Bancshares stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $61.04, for a total value of $2,040,200.96. Following the completion of the transaction, the insider now owns 1,059,102 shares of the company’s stock, valued at $64,647,586.08. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Daniel D. Callahan sold 2,972 shares of Commerce Bancshares stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $58.56, for a total transaction of $174,040.32. Following the completion of the transaction, the vice president now directly owns 36,266 shares of the company’s stock, valued at approximately $2,123,736.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 168,446 shares of company stock valued at $9,859,042. 4.30% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cliftonlarsonallen Wealth Advisors LLC boosted its holdings in shares of Commerce Bancshares by 5.0% during the fourth quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 18,060 shares of the financial services provider’s stock valued at $1,008,000 after acquiring an additional 858 shares during the period. Bank of Montreal Can boosted its holdings in shares of Commerce Bancshares by 2.5% during the fourth quarter. Bank of Montreal Can now owns 35,974 shares of the financial services provider’s stock valued at $2,009,000 after acquiring an additional 866 shares during the period. Jane Street Group LLC boosted its holdings in shares of Commerce Bancshares by 5.9% during the fourth quarter. Jane Street Group LLC now owns 16,277 shares of the financial services provider’s stock valued at $909,000 after acquiring an additional 906 shares during the period. Thomas Story & Son LLC boosted its holdings in shares of Commerce Bancshares by 5.0% during the fourth quarter. Thomas Story & Son LLC now owns 19,139 shares of the financial services provider’s stock valued at $1,069,000 after acquiring an additional 910 shares during the period. Finally, Stratos Wealth Partners LTD. boosted its holdings in shares of Commerce Bancshares by 2.1% during the third quarter. Stratos Wealth Partners LTD. now owns 45,688 shares of the financial services provider’s stock valued at $2,639,000 after acquiring an additional 946 shares during the period. 62.78% of the stock is owned by institutional investors.

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Commerce Bancshares Company Profile

Commerce Bancshares, Inc is a bank holding company of Commerce Bank (the Bank). The Bank is engaged in general banking business, providing a range of retail, mortgage banking, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.

Analyst Recommendations for Commerce Bancshares (NASDAQ:CBSH)

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