Commerce Bancshares (NASDAQ:CBSH) Rating Increased to Hold at StockNews.com

Commerce Bancshares (NASDAQ:CBSH) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

Several other equities research analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Commerce Bancshares from $56.00 to $58.00 and gave the company a “market perform” rating in a research report on Wednesday. Bank of America started coverage on shares of Commerce Bancshares in a research report on Thursday, January 11th. They set a “neutral” rating and a $55.00 price objective on the stock. Morgan Stanley raised their target price on shares of Commerce Bancshares from $46.00 to $55.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Raymond James raised shares of Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 target price for the company in a report on Wednesday. Finally, Piper Sandler raised their target price on shares of Commerce Bancshares from $53.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Commerce Bancshares presently has an average rating of “Hold” and a consensus target price of $55.00.

Commerce Bancshares Trading Up 0.1 %

NASDAQ CBSH opened at $53.10 on Wednesday. Commerce Bancshares has a 12 month low of $40.91 and a 12 month high of $56.75. The stock has a market cap of $6.90 billion, a price-to-earnings ratio of 14.81 and a beta of 0.79. The company’s 50 day moving average is $52.02 and its two-hundred day moving average is $50.93.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.06. The firm had revenue of $397.80 million for the quarter, compared to analysts’ expectations of $389.49 million. Commerce Bancshares had a net margin of 23.33% and a return on equity of 16.78%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 earnings per share. Sell-side analysts forecast that Commerce Bancshares will post 3.24 EPS for the current year.

Insiders Place Their Bets

In other Commerce Bancshares news, SVP Patricia R. Kellerhals sold 730 shares of Commerce Bancshares stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $54.87, for a total transaction of $40,055.10. Following the completion of the transaction, the senior vice president now directly owns 25,502 shares of the company’s stock, valued at $1,399,294.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Douglas D. Neff sold 614 shares of Commerce Bancshares stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $50.25, for a total transaction of $30,853.50. Following the completion of the sale, the senior vice president now directly owns 8,038 shares in the company, valued at $403,909.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Patricia R. Kellerhals sold 730 shares of Commerce Bancshares stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $54.87, for a total value of $40,055.10. Following the sale, the senior vice president now owns 25,502 shares of the company’s stock, valued at $1,399,294.74. The disclosure for this sale can be found here. Insiders sold 14,321 shares of company stock valued at $752,387 over the last three months. 3.20% of the stock is owned by company insiders.

Institutional Trading of Commerce Bancshares

Institutional investors and hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. lifted its position in shares of Commerce Bancshares by 16.5% during the third quarter. Victory Capital Management Inc. now owns 130,936 shares of the financial services provider’s stock worth $6,282,000 after purchasing an additional 18,535 shares during the last quarter. Mutual Advisors LLC lifted its position in shares of Commerce Bancshares by 3.9% during the third quarter. Mutual Advisors LLC now owns 417,063 shares of the financial services provider’s stock worth $20,011,000 after purchasing an additional 15,508 shares during the last quarter. Handelsinvest Investeringsforvaltning bought a new stake in shares of Commerce Bancshares during the fourth quarter worth $526,000. CWM LLC lifted its position in shares of Commerce Bancshares by 10.7% during the third quarter. CWM LLC now owns 147,743 shares of the financial services provider’s stock worth $7,089,000 after purchasing an additional 14,323 shares during the last quarter. Finally, Stifel Financial Corp raised its holdings in shares of Commerce Bancshares by 23.0% in the third quarter. Stifel Financial Corp now owns 110,881 shares of the financial services provider’s stock valued at $5,322,000 after acquiring an additional 20,737 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc operates as the bank holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses in the United States. It operates through three segments: Consumer, Commercial, and Wealth.