Commerce Bancshares (CBSH) PT Raised to $59.00 at Barclays

Lloyd Doyle
January 19, 2018

Commerce Bancshares Inc now has $6.46 billion valuation. Commerce Bancshares had 27 analyst reports since October 15, 2015 according to SRatingsIntel. The bank reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.96 by $0.02. "However, continuously rising expenses and significant exposure to real estate loans, remain the major causes of concern". Also, the company has significant exposure to real estate loans, which remains a major concern.

A number of research analysts recently issued reports on the stock.

1/2/2018 - Commerce Bancshares had its price target raised by analysts at Barclays PLC from $55.00 to $59.00. BidaskClub downgraded shares of Commerce Bancshares from a "hold" rating to a "sell" rating in a research note on Thursday, January 4th. Zacks Investment Research downgraded shares of Commerce Bancshares from a "buy" rating to a "hold" rating in a research note on Monday, September 18th. Citigroup upgraded Seaspan Corporation (NYSE:SSW) on Tuesday, May 2 to "Neutral" rating. Finally, Barclays reiterated a "hold" rating and issued a $55.00 price target on shares of Commerce Bancshares in a research note on Sunday, December 24th. As per Monday, May 1, the company rating was downgraded by Credit Suisse. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company's stock. The company now has a consensus rating of "Hold" and a consensus price target of $56.25. Below is a list of Prosperity Bancshares, Inc. The firm has a 50 day moving average of $70.46 and a 200-day moving average of $58.46. Paragon Capital Mngmt Llc reported 1.82% of its portfolio in Commerce Bancshares, Inc. The biggest holder now is David W. Kemper who owns 1,287,857 shares (1.15% of those outstanding), whilst Jonathan M. Kemper holds 1,042,885 (0.93% of shares outstanding) and Mr. John W. Kemper holds 122,620 (0.11% of shares outstanding). The firm earned $183.80 million during the quarter, compared to the consensus estimate of $189.25 million. Prosperity Bancshares had a net margin of 34.79% and a return on equity of 7.38%. The firm's quarterly revenue was down 2.2% compared to the same quarter past year.

For the year, the company reported profit of $319.4 million, or $2.89 per share.

They expect $0.71 EPS, up 8.45% or $0.06 from last year's $0.65 per share. Investors of record on Thursday, November 30th were given a dividend of $0.225 per share. This is a boost from Prosperity Bancshares's previous quarterly dividend of $0.30. N+1 Singer maintained the stock with "Corporate" rating in Wednesday, November 30 report. (NYSE:SSW) shareholders before Jan 19, 2018 will receive the $0.13 dividend. Commerce Bancshares's payout ratio is 33.58%. KEMPER JONATHAN M had sold 55,000 shares worth $3.03 million. The stock was sold at an average price of $66.15, for a total value of $330,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider V Raymond Stranghoener sold 6,399 shares of the firm's stock in a transaction that occurred on Thursday, October 26th. About 1.36M shares traded or 3.54% up from the average. Following the completion of the sale, the insider now directly owns 47,112 shares in the company, valued at approximately $2,751,340.80. The disclosure for this sale can be found here. Bank of New York Mellon Corp grew its position in shares of Commerce Bancshares by 3.4% during the third quarter. The Vigilant Capital Management Llc holds 208,873 shares with $12.07 million value, up from 178,299 last quarter. Price T Rowe Associates Inc. RBC Capital Markets maintained Prosperity Bancshares, Inc. Schwab Charles Investment Management Inc. now owns 468,110 shares of the financial services provider's stock worth $26,603,000 after buying an additional 8,179 shares in the last quarter. The company was initiated on Friday, December 18 by JP Morgan. Legal & General Group Plc now owns 404,973 shares of the financial services provider's stock valued at $23,016,000 after purchasing an additional 6,542 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Prosperity Bancshares during the 3rd quarter valued at $105,000. Hedge funds and other institutional investors own 74.12% of the company's stock.

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