Keefe, Bruyette & Woods Reaffirms Sell Rating for Commerce Bancshares, Inc. (CBSH)

Keefe, Bruyette & Woods reiterated their sell rating on shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) in a report released on Friday. Keefe, Bruyette & Woods currently has a $51.00 price target on the financial services provider’s stock.

CBSH has been the topic of several other research reports. Zacks Investment Research upgraded Commerce Bancshares from a sell rating to a hold rating in a report on Monday, July 10th. Barclays PLC set a $58.00 price target on Commerce Bancshares and gave the stock a hold rating in a report on Sunday, July 16th. UBS AG downgraded Commerce Bancshares to an underperform rating in a report on Thursday, August 10th. BidaskClub upgraded Commerce Bancshares from a sell rating to a hold rating in a report on Tuesday, June 13th. Finally, Jefferies Group LLC restated a hold rating and set a $61.00 price target on shares of Commerce Bancshares in a report on Friday, July 14th. Five research analysts have rated the stock with a sell rating and six have given a hold rating to the company. The stock has an average rating of Hold and a consensus target price of $55.25.

Shares of Commerce Bancshares (CBSH) opened at 55.78 on Friday. The company’s 50-day moving average price is $55.48 and its 200-day moving average price is $55.94. The company has a market cap of $5.67 billion, a P/E ratio of 20.21 and a beta of 0.82. Commerce Bancshares has a 12 month low of $47.64 and a 12 month high of $60.61.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Thursday, July 13th. The financial services provider reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.05. Commerce Bancshares had a return on equity of 12.01% and a net margin of 23.79%. The company had revenue of $305.89 million for the quarter, compared to the consensus estimate of $309.44 million. During the same quarter in the prior year, the business earned $0.70 EPS. Commerce Bancshares’s revenue was up 6.1% on a year-over-year basis. Equities analysts forecast that Commerce Bancshares will post $2.94 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 25th. Stockholders of record on Friday, September 8th will be given a dividend of $0.225 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.90 annualized dividend and a dividend yield of 1.61%. Commerce Bancshares’s dividend payout ratio is currently 32.64%.

In other news, Chairman David W. Kemper sold 10,132 shares of the company’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $57.83, for a total transaction of $585,933.56. Following the completion of the transaction, the chairman now directly owns 1,270,757 shares of the company’s stock, valued at approximately $73,487,877.31. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 transaction, the insider now directly owns 40,232 shares of the company’s stock, valued at $2,377,308.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,819 shares of company stock valued at $1,174,728. Insiders own 4.30% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado boosted its position in shares of Commerce Bancshares by 0.3% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 12,520 shares of the financial services provider’s stock worth $712,000 after acquiring an additional 42 shares in the last quarter. M&T Bank Corp boosted its position in shares of Commerce Bancshares by 1.0% in the 2nd quarter. M&T Bank Corp now owns 6,179 shares of the financial services provider’s stock valued at $351,000 after purchasing an additional 62 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Commerce Bancshares by 1.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 7,354 shares of the financial services provider’s stock valued at $418,000 after purchasing an additional 103 shares during the period. WFG Advisors LP boosted its position in shares of Commerce Bancshares by 2.8% in the 1st quarter. WFG Advisors LP now owns 3,939 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 109 shares during the period. Finally, World Asset Management Inc boosted its position in shares of Commerce Bancshares by 2.1% in the 1st quarter. World Asset Management Inc now owns 5,418 shares of the financial services provider’s stock valued at $304,000 after purchasing an additional 112 shares during the period. 62.20% of the stock is owned by institutional investors and hedge funds.

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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