BidaskClub Upgrades Commerce Bancshares (NASDAQ:CBSH) to “Hold”

BidaskClub upgraded shares of Commerce Bancshares (NASDAQ:CBSH) from a sell rating to a hold rating in a research note published on Thursday morning, BidAskClub reports.

Other equities analysts have also recently issued research reports about the stock. Stephens restated a hold rating and issued a $57.00 price objective on shares of Commerce Bancshares in a research note on Wednesday, August 14th. DA Davidson upped their target price on shares of Commerce Bancshares to $62.00 and gave the stock a neutral rating in a report on Wednesday, July 17th. Zacks Investment Research raised shares of Commerce Bancshares from a sell rating to a hold rating and set a $50.00 target price on the stock in a report on Wednesday, June 12th. Finally, Raymond James lowered shares of Commerce Bancshares from a market perform rating to an underperform rating in a report on Monday, July 8th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Commerce Bancshares presently has an average rating of Hold and a consensus target price of $58.41.

Shares of CBSH stock opened at $61.33 on Thursday. Commerce Bancshares has a 52-week low of $53.40 and a 52-week high of $69.75. The stock has a market cap of $6.67 billion, a price-to-earnings ratio of 16.22, a P/E/G ratio of 3.01 and a beta of 0.75. The firm has a fifty day moving average of $57.79 and a 200-day moving average of $59.12.



Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.02. Commerce Bancshares had a net margin of 29.90% and a return on equity of 15.02%. The company had revenue of $338.90 million during the quarter, compared to analysts’ expectations of $339.94 million. During the same quarter in the prior year, the company posted $0.96 EPS. The business’s revenue was up 4.4% on a year-over-year basis. On average, research analysts forecast that Commerce Bancshares will post 3.67 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, September 6th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Thursday, September 5th. Commerce Bancshares’s payout ratio is 27.51%.

Institutional investors and hedge funds have recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. bought a new stake in shares of Commerce Bancshares in the 2nd quarter worth about $35,000. Synovus Financial Corp bought a new stake in shares of Commerce Bancshares in the 2nd quarter worth about $49,000. Captrust Financial Advisors bought a new stake in shares of Commerce Bancshares in the 2nd quarter worth about $50,000. Point72 Asset Management L.P. bought a new stake in shares of Commerce Bancshares in the 2nd quarter worth about $60,000. Finally, Trustcore Financial Services LLC bought a new stake in shares of Commerce Bancshares in the 2nd quarter worth about $75,000. 65.79% of the stock is currently owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Commerce Bancshares (NASDAQ:CBSH)

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