Piper Jaffray Companies Reaffirms “Hold” Rating for Commerce Bancshares (CBSH)

Piper Jaffray Companies reiterated their hold rating on shares of Commerce Bancshares (NASDAQ:CBSH) in a research note released on Tuesday, January 9th. They currently have a $58.00 target price on the financial services provider’s stock.

Several other equities analysts have also weighed in on the company. Keefe, Bruyette & Woods restated a sell rating and issued a $51.00 price target on shares of Commerce Bancshares in a research note on Friday, September 15th. BidaskClub lowered Commerce Bancshares from a sell rating to a strong sell rating in a research note on Saturday, December 16th. Zacks Investment Research lowered Commerce Bancshares from a hold rating to a sell rating in a research note on Tuesday, December 12th. Finally, Barclays restated a hold rating and issued a $55.00 price target on shares of Commerce Bancshares in a research note on Sunday, December 24th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. Commerce Bancshares has an average rating of Hold and an average price target of $56.25.

Commerce Bancshares (NASDAQ CBSH) opened at $57.95 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.04. Commerce Bancshares has a 52 week low of $51.90 and a 52 week high of $60.61. The firm has a market capitalization of $6,184.10, a PE ratio of 21.58, a P/E/G ratio of 2.30 and a beta of 0.80.

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 18th. Investors of record on Thursday, November 30th were issued a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Wednesday, November 29th. Commerce Bancshares’s payout ratio is 33.51%.

In related news, insider V Raymond Stranghoener sold 6,399 shares of Commerce Bancshares stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $58.40, for a total value of $373,701.60. Following the sale, the insider now directly owns 47,112 shares in the company, valued at approximately $2,751,340.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Vice Chairman Jonathan M. Kemper sold 55,000 shares of Commerce Bancshares stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $55.06, for a total value of $3,028,300.00. The disclosure for this sale can be found here. Insiders own 4.30% of the company’s stock.

Several institutional investors have recently modified their holdings of CBSH. Lazard Asset Management LLC boosted its holdings in shares of Commerce Bancshares by 27.1% during the 2nd quarter. Lazard Asset Management LLC now owns 1,448,515 shares of the financial services provider’s stock worth $82,318,000 after purchasing an additional 308,460 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Commerce Bancshares by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 8,599,122 shares of the financial services provider’s stock worth $488,688,000 after purchasing an additional 246,065 shares during the last quarter. Janus Henderson Group PLC acquired a new position in shares of Commerce Bancshares during the 2nd quarter worth approximately $8,022,000. State of Tennessee Treasury Department boosted its holdings in shares of Commerce Bancshares by 366.7% during the 3rd quarter. State of Tennessee Treasury Department now owns 140,000 shares of the financial services provider’s stock worth $8,088,000 after purchasing an additional 110,000 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of Commerce Bancshares by 1.1% during the 2nd quarter. BlackRock Inc. now owns 7,591,937 shares of the financial services provider’s stock worth $431,451,000 after purchasing an additional 82,095 shares during the last quarter. Institutional investors and hedge funds own 59.15% of the company’s stock.

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About Commerce Bancshares

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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