Commerce Bancshares (NASDAQ:CBSH) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Commerce Bancshares (NASDAQ:CBSH) from a hold rating to a sell rating in a report published on Monday.

Other analysts have also issued research reports about the stock. Weiss Ratings upgraded shares of Commerce Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 8th. Wells Fargo & Company upped their price objective on shares of Commerce Bancshares from $53.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Monday, July 6th. Stephens set a $64.00 target price on shares of Commerce Bancshares and gave the stock an “equal weight” rating in a research note on Friday, July 17th. TD Cowen restated a “hold” rating and set a $63.00 target price (up from $62.00) on shares of Commerce Bancshares in a research report on Friday, July 17th. Finally, Morgan Stanley restated a “positive” rating and issued a $65.00 price target (up from $61.00) on shares of Commerce Bancshares in a research note on Monday, June 29th. Two equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Commerce Bancshares has a consensus rating of “Hold” and an average target price of $62.43.

Commerce Bancshares Trading Up 0.6%

Commerce Bancshares stock opened at $58.70 on Monday. The firm has a market cap of $8.56 billion, a PE ratio of 14.21, a P/E/G ratio of 2.09 and a beta of 0.58. Commerce Bancshares has a 12 month low of $46.99 and a 12 month high of $61.54. The stock’s 50 day simple moving average is $55.30 and its two-hundred day simple moving average is $52.94. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.01.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, July 16th. The financial services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.06. Commerce Bancshares had a net margin of 26.07% and a return on equity of 14.31%. The firm had revenue of $498.91 million during the quarter, compared to analyst estimates of $492.22 million. During the same period in the previous year, the firm earned $1.14 EPS. Analysts anticipate that Commerce Bancshares will post 4.22 earnings per share for the current year.

Commerce Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Friday, June 5th were paid a $0.275 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.10 dividend on an annualized basis and a yield of 1.9%. Commerce Bancshares’s dividend payout ratio (DPR) is currently 26.63%.

Hedge Funds Weigh In On Commerce Bancshares

A number of large investors have recently added to or reduced their stakes in the stock. Apriem Advisors boosted its stake in Commerce Bancshares by 5.0% during the fourth quarter. Apriem Advisors now owns 4,018 shares of the financial services provider’s stock worth $210,000 after buying an additional 191 shares during the period. Heartland Bank & Trust Co raised its stake in shares of Commerce Bancshares by 4.4% in the 4th quarter. Heartland Bank & Trust Co now owns 4,595 shares of the financial services provider’s stock valued at $240,000 after acquiring an additional 192 shares during the period. Outlook Wealth Advisors LLC raised its stake in shares of Commerce Bancshares by 3.7% in the 4th quarter. Outlook Wealth Advisors LLC now owns 5,934 shares of the financial services provider’s stock valued at $311,000 after acquiring an additional 214 shares during the period. Elser Financial Planning Inc lifted its holdings in shares of Commerce Bancshares by 5.0% in the 4th quarter. Elser Financial Planning Inc now owns 4,531 shares of the financial services provider’s stock worth $237,000 after acquiring an additional 215 shares during the last quarter. Finally, Centerpoint Advisory Group boosted its position in shares of Commerce Bancshares by 5.0% during the 4th quarter. Centerpoint Advisory Group now owns 4,534 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 215 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.