Jefferies Group LLC Reaffirms Hold Rating for Commerce Bancshares, Inc. (CBSH)
Commerce Bancshares, Inc. (NASDAQ:CBSH)‘s stock had its “hold” rating reaffirmed by analysts at Jefferies Group LLC in a report issued on Friday. They presently have a $61.00 target price on the financial services provider’s stock. Jefferies Group LLC’s target price points to a potential upside of 10.47% from the stock’s current price.
Other equities analysts also recently issued reports about the company. Piper Jaffray Companies dropped their target price on Commerce Bancshares from $55.00 to $52.00 and set a “neutral” rating for the company in a research report on Wednesday, April 19th. Barclays PLC increased their target price on Commerce Bancshares from $54.00 to $55.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 19th. Stephens reiterated a “hold” rating on shares of Commerce Bancshares in a research report on Monday, April 17th. UBS AG downgraded Commerce Bancshares to an “underperform” rating in a research report on Thursday. Finally, Raymond James Financial, Inc. reiterated an “underperform” rating on shares of Commerce Bancshares in a research report on Thursday. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $55.00.
Commerce Bancshares (NASDAQ:CBSH) opened at 55.22 on Friday. The stock has a 50 day moving average of $57.34 and a 200 day moving average of $56.49. The firm has a market capitalization of $5.61 billion, a price-to-earnings ratio of 20.01 and a beta of 0.81. Commerce Bancshares has a one year low of $45.37 and a one year high of $60.61.
Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, July 13th. The financial services provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.70 by $0.05. The firm had revenue of $305.89 million during the quarter, compared to the consensus estimate of $309.44 million. Commerce Bancshares had a return on equity of 12.42% and a net margin of 25.68%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the company earned $0.70 earnings per share. Analysts forecast that Commerce Bancshares will post $2.94 earnings per share for the current year.
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In other news, insider Jeffery D. Aberdeen sold 687 shares of the 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 completion of the sale, the insider now owns 40,232 shares of the company’s stock, valued at $2,377,308.88. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman David W. Kemper sold 10,132 shares of the stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $57.83, for a total value of $585,933.56. Following the completion of the sale, the chairman now directly owns 1,270,757 shares of the company’s stock, valued at approximately $73,487,877.31. The disclosure for this sale can be found here. In the last three months, insiders sold 48,099 shares of company stock valued at $2,643,431. Insiders own 4.30% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Capstone Asset Management Co. boosted its stake in shares of Commerce Bancshares by 0.5% in the first quarter. Capstone Asset Management Co. now owns 7,220 shares of the financial services provider’s stock valued at $405,000 after buying an additional 37 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its stake in shares of Commerce Bancshares by 0.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 12,520 shares of the financial services provider’s stock valued at $712,000 after buying an additional 42 shares during the last quarter. M&T Bank Corp boosted its stake in shares of Commerce Bancshares by 1.0% in the second quarter. M&T Bank Corp now owns 6,179 shares of the financial services provider’s stock valued at $351,000 after buying an additional 62 shares during the last quarter. Bank of The Ozarks boosted its stake in shares of Commerce Bancshares by 0.4% in the first quarter. Bank of The Ozarks now owns 20,027 shares of the financial services provider’s stock valued at $1,125,000 after buying an additional 74 shares during the last quarter. Finally, Mosaic Family Wealth LLC boosted its stake in Commerce Bancshares by 2.9% in the first quarter. Mosaic Family Wealth LLC now owns 3,116 shares of the financial services provider’s stock valued at $175,000 after buying an additional 89 shares in the last quarter. 62.13% of the stock is owned by institutional investors.
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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