Commerce Bancshares (NASDAQ:CBSH) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, December 28th.
Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Commerce Bancshares from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. Barclays reaffirmed a “hold” rating and set a $55.00 price objective on shares of Commerce Bancshares in a research report on Sunday, December 24th. Piper Jaffray Companies reaffirmed 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 reaffirmed a “sell” rating and set a $51.00 price objective on shares of Commerce Bancshares in a research report on Friday, September 15th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $56.25.
Shares of Commerce Bancshares (NASDAQ:CBSH) opened at $57.95 on Thursday. The stock has a market cap of $6,180.00, a P/E ratio of 21.62, a PEG ratio of 2.28 and a beta of 0.80. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.04. Commerce Bancshares has a 1-year low of $49.43 and a 1-year high of $58.66.
Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, October 12th. The financial services provider reported $0.71 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analyst estimates of $317.28 million. During the same quarter last year, the business posted $0.68 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. research analysts forecast that Commerce Bancshares will post 2.76 earnings per share for the current fiscal year.
In other Commerce Bancshares news, insider V Raymond Stranghoener sold 6,399 shares of the company’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Jonathan M. Kemper sold 55,000 shares of the company’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $55.06, for a total transaction of $3,028,300.00. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Captrust Financial Advisors acquired a new position in Commerce Bancshares during the second quarter worth approximately $106,000. Citizens Financial Group Inc RI increased its position in shares of Commerce Bancshares by 25.5% in the second quarter. Citizens Financial Group Inc RI now owns 2,650 shares of the financial services provider’s stock worth $151,000 after acquiring an additional 539 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Commerce Bancshares by 8.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,339 shares of the financial services provider’s stock worth $190,000 after acquiring an additional 264 shares in the last quarter. SignalPoint Asset Management LLC acquired a new stake in shares of Commerce Bancshares in the third quarter worth $226,000. Finally, Wedbush Securities Inc. acquired a new stake in shares of Commerce Bancshares in the third quarter worth $229,000. 59.14% of the stock is currently owned by institutional investors and hedge funds.
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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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