Commerce Bancshares (NASDAQ:CBSH) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Friday, December 22nd.
Other analysts have also issued research reports about the company. Zacks Investment Research raised Commerce Bancshares from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research note on Friday, October 6th. Piper Jaffray Companies reissued a “neutral” rating and set a $60.00 price objective on shares of Commerce Bancshares in a research report on Friday, October 6th. Finally, Keefe, Bruyette & Woods reissued a “sell” rating and set a $51.00 price objective on shares of Commerce Bancshares in a research report on Friday, September 15th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $56.25.
Shares of Commerce Bancshares (CBSH) traded down $0.11 during midday trading on Friday, reaching $57.95. 626,616 shares of the company’s stock were exchanged, compared to its average volume of 439,434. The company has a market capitalization of $6,184.08, a PE ratio of 21.58, a P/E/G ratio of 2.28 and a beta of 0.80. Commerce Bancshares has a twelve month low of $49.43 and a twelve month high of $58.66. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.68 and a quick ratio of 0.68.
Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Thursday, October 12th. The financial services provider reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Commerce Bancshares had a net margin of 23.93% and a return on equity of 12.08%. The company had revenue of $304.83 million for the quarter, compared to analysts’ expectations of $317.28 million. During the same period last year, the company posted $0.68 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. sell-side analysts forecast that Commerce Bancshares will post 2.73 earnings per share for the current year.
In other Commerce Bancshares news, Vice Chairman Jonathan M. Kemper sold 55,000 shares of the business’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $55.06, for a total transaction of $3,028,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider V Raymond Stranghoener sold 6,399 shares of the business’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $58.40, for a total value of $373,701.60. Following the sale, the insider now owns 47,112 shares of the company’s stock, valued at $2,751,340.80. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in shares of Commerce Bancshares by 3.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,083,851 shares of the financial services provider’s stock valued at $62,613,000 after buying an additional 35,361 shares in the last quarter. Cetera Investment Advisers purchased a new position in Commerce Bancshares in the 2nd quarter worth approximately $272,000. Nuance Investments LLC lifted its holdings in Commerce Bancshares by 4.3% in the 3rd quarter. Nuance Investments LLC now owns 996,414 shares of the financial services provider’s stock worth $57,563,000 after purchasing an additional 40,997 shares in the last quarter. Schroder Investment Management Group lifted its holdings in Commerce Bancshares by 1.5% in the 3rd quarter. Schroder Investment Management Group now owns 844,628 shares of the financial services provider’s stock worth $48,491,000 after purchasing an additional 12,843 shares in the last quarter. Finally, WBI Investments Inc. purchased a new position in Commerce Bancshares in the 2nd quarter worth approximately $2,496,000. 59.14% of the stock is currently owned by hedge funds and other institutional investors.
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Commerce Bancshares Company Profile
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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