Commerce Bancshares (CBSH) Earning Somewhat Positive Media Coverage, Analysis Shows
Headlines about Commerce Bancshares (NASDAQ:CBSH) have been trending somewhat positive this week, Accern Sentiment reports. The research group scores the sentiment of media coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Commerce Bancshares earned a news sentiment score of 0.22 on Accern’s scale. Accern also assigned media stories about the financial services provider an impact score of 45.3742631826624 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Several brokerages have issued reports on CBSH. Jefferies Group LLC reissued a “hold” rating and issued a $61.00 target price on shares of Commerce Bancshares in a research report on Sunday, June 11th. BidaskClub cut Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Barclays PLC reissued an “equal weight” rating and issued a $54.00 target price (down from $55.00) on shares of Commerce Bancshares in a research report on Wednesday, July 12th. Keefe, Bruyette & Woods reissued a “sell” rating and issued a $46.00 target price on shares of Commerce Bancshares in a research report on Monday, June 12th. Finally, Wells Fargo & Company reissued a “market perform” rating and issued a $53.00 target price (up from $51.00) on shares of Commerce Bancshares in a research report on Friday, July 14th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $55.00.
Commerce Bancshares (NASDAQ:CBSH) opened at 58.20 on Friday. The stock’s 50 day moving average price is $57.27 and its 200-day moving average price is $56.40. The stock has a market capitalization of $5.91 billion, a PE ratio of 21.09 and a beta of 0.81. Commerce Bancshares has a 52-week low of $44.41 and a 52-week high of $60.61.
Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Thursday, July 13th. The financial services provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.05. The business had revenue of $305.89 million for the quarter, compared to analyst estimates of $309.44 million. Commerce Bancshares had a return on equity of 12.01% and a net margin of 23.79%. The company’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.70 earnings per share. On average, equities analysts expect that Commerce Bancshares will post $2.94 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 25th. Stockholders of record on Friday, September 8th will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Thursday, September 7th. Commerce Bancshares’s dividend payout ratio is presently 32.64%.
In other news, insider Jeffery D. Aberdeen sold 687 shares of the company’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $59.09, for a total value of $40,594.83. Following the sale, the insider now owns 40,232 shares in the company, valued at $2,377,308.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Jonathan M. Kemper sold 36,979 shares of the company’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $54.10, for a total value of $2,000,563.90. Following the completion of the sale, the insider now owns 1,045,605 shares in the company, valued at approximately $56,567,230.50. The disclosure for this sale can be found here. Insiders sold 48,099 shares of company stock worth $2,643,431 in the last 90 days. Company insiders own 4.30% of the company’s stock.
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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.
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