COMMERCE BANCSHARES INC /MO/
No SEC Form 4 filings for $CBSH in the last 30 days.
Massachusetts banks are expanding into New Hampshire as residents and businesses migrate north. Cambridge Savings Bank ($7B) will buy First Seacoast Bank for $80.9M cash, pending approvals. The article cites other deals (Rockland Trust, Needham Bank, and Camden National). It notes NH has 42 deposit banks vs 120 in MA, and that NH gained six MA companies and 500 jobs last year.
Commerce Bancshares (NASDAQ: CBSH) announced a $99 million gain after Visa accepted its tender of Class B-2 common stock in exchange for Class B-3 and Class C common stock. Following this, the company plans to reposition $911 million of its available-for-sale debt securities portfolio, anticipating a $95 million pretax loss but expecting increased net interest income and reduced earnings volatility. The overall impact on the Common Equity Tier 1 ratio is expected to be neutral.
Wall Street Zen upgraded Commerce Bancshares (NASDAQ:CBSH) from a "strong sell" to a "sell" rating, though the consensus among MarketBeat analysts remains a "Hold" with a target price of $59.16. The company reported quarterly EPS of $0.96, beating estimates, but revenue slightly missed expectations. Insider activity showed mixed signals, with the CEO selling shares and a director purchasing shares, while institutional investors hold over 70% of the stock.
