Zacks Investment Research Downgrades Commerce Bancshares, Inc. (CBSH) to Sell

Commerce Bancshares, Inc. (NASDAQ:CBSH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.

According to Zacks, “Commerce Bancshares’ shares marginally underperformed the Zacks categorized Midwest Banking industry in the last three months. Rising expenses continue to be a major concern for the company. Also, significant exposure to real estate loans might pose some risks for the company in the near-term. Nevertheless, the company's efforts to expand its footprint in newer markets, improving rate scenario and potential lesser regulations are expected to support top line growth.”

A number of other equities research analysts have also recently commented on CBSH. Jefferies Group LLC reissued a “hold” rating and set a $61.00 target price on shares of Commerce Bancshares in a research report on Sunday, June 11th. BidaskClub raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Keefe, Bruyette & Woods reissued a “sell” rating and set a $46.00 target price on shares of Commerce Bancshares in a research report on Monday, June 12th. Morgan Stanley raised their price target on shares of Commerce Bancshares from $48.00 to $49.00 and gave the stock an “underweight” rating in a report on Tuesday, June 6th. Finally, Piper Jaffray Companies decreased their price target on shares of Commerce Bancshares from $55.00 to $52.00 and set a “neutral” rating for the company in a report on Wednesday, April 19th. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company. The stock has an average rating of “Hold” and an average target price of $54.50.

Analyst Recommendations for Commerce Bancshares (NASDAQ:CBSH)

Commerce Bancshares (NASDAQ CBSH) traded down 0.3358% during midday trading on Tuesday, reaching $57.1275. 116,213 shares of the company’s stock were exchanged. Commerce Bancshares has a 12-month low of $42.44 and a 12-month high of $60.61. The stock has a market capitalization of $5.81 billion, a price-to-earnings ratio of 21.3721 and a beta of 0.78. The stock’s 50-day moving average is $55.28 and its 200-day moving average is $56.51.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, April 13th. The financial services provider reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.03. Commerce Bancshares had a net margin of 23.43% and a return on equity of 11.76%. The company had revenue of $295.30 million during the quarter, compared to analysts’ expectations of $298.61 million. During the same quarter in the prior year, the company posted $0.62 earnings per share. Commerce Bancshares’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, equities analysts forecast that Commerce Bancshares will post $2.84 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 26th. Shareholders of record on Friday, June 9th will be issued a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.57%. Commerce Bancshares’s dividend payout ratio is currently 33.65%.

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In other Commerce Bancshares news, insider V Raymond Stranghoener sold 4,182 shares of the firm’s stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $56.22, for a total value of $235,112.04. Following the completion of the transaction, the insider now owns 47,112 shares of the company’s stock, valued at $2,648,636.64. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Vice Chairman Jonathan M. Kemper sold 36,979 shares of the firm’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $54.10, for a total transaction of $2,000,563.90. Following the completion of the transaction, the insider now directly owns 1,045,605 shares of the company’s stock, valued at approximately $56,567,230.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,167 shares of company stock valued at $3,602,308. Corporate insiders own 4.30% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of CBSH. Capstone Asset Management Co. boosted its position in 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 worth $405,000 after buying an additional 37 shares in the last quarter. Bank of The Ozarks raised its stake in 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 worth $1,125,000 after buying an additional 74 shares during the last quarter. Mosaic Family Wealth LLC raised 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 worth $175,000 after buying an additional 89 shares during the last quarter. WFG Advisors LP raised its stake in Commerce Bancshares by 2.8% in the first quarter. WFG Advisors LP now owns 3,939 shares of the financial services provider’s stock worth $221,000 after buying an additional 109 shares during the last quarter. Finally, World Asset Management Inc raised its stake in Commerce Bancshares by 2.1% in the first quarter. World Asset Management Inc now owns 5,418 shares of the financial services provider’s stock worth $304,000 after buying an additional 112 shares during the last quarter. 62.11% of the stock is owned by institutional investors and hedge funds.

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.

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