Commerce Bancshares (CBSH) Stock Rating Reaffirmed by Keefe, Bruyette & Woods

Commerce Bancshares (NASDAQ:CBSH)‘s stock had its “sell” rating reaffirmed by analysts at Keefe, Bruyette & Woods in a research report issued on Friday. They currently have a $54.00 target price on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential downside of 9.56% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. BidaskClub cut Commerce Bancshares from a “sell” rating to a “strong sell” rating in a research note on Saturday, December 16th. Zacks Investment Research cut Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Barclays reissued a “hold” rating and set a $55.00 target price on shares of Commerce Bancshares in a research note on Sunday, December 24th. Finally, Piper Jaffray Companies reissued a “neutral” rating and set a $60.00 target price on shares of Commerce Bancshares in a research note on Friday, October 6th. 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’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $56.63.

Shares of Commerce Bancshares (NASDAQ CBSH) opened at $59.71 on Friday. Commerce Bancshares has a 12-month low of $49.43 and a 12-month high of $59.72. The firm has a market capitalization of $6,510.00, a P/E ratio of 20.66, a price-to-earnings-growth ratio of 2.30 and a beta of 0.80.

In related news, Vice Chairman Jonathan M. Kemper sold 55,000 shares of the company’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $55.06, for a total value of $3,028,300.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider V Raymond Stranghoener sold 6,399 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $58.40, for a total value of $373,701.60. Following the completion of the sale, the insider now directly owns 47,112 shares in the company, valued at $2,751,340.80. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the stock. SignalPoint Asset Management LLC purchased a new stake in Commerce Bancshares in the third quarter worth $226,000. Wedbush Securities Inc. purchased a new stake in Commerce Bancshares in the third quarter worth $229,000. Cetera Investment Advisers purchased a new stake in Commerce Bancshares in the second quarter worth $272,000. GSA Capital Partners LLP purchased a new stake in Commerce Bancshares in the third quarter worth $283,000. Finally, Archford Capital Strategies LLC grew its stake in Commerce Bancshares by 25.3% in the third quarter. Archford Capital Strategies LLC now owns 5,003 shares of the financial services provider’s stock worth $289,000 after purchasing an additional 1,011 shares during the period. 59.15% of the stock is currently owned by institutional investors.

TRADEMARK VIOLATION NOTICE: “Commerce Bancshares (CBSH) Stock Rating Reaffirmed by Keefe, Bruyette & Woods” was first posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this story on another site, it was copied illegally and reposted in violation of international copyright and trademark laws. The correct version of this story can be viewed at https://www.dispatchtribunal.com/2018/01/21/commerce-bancshares-cbsh-stock-rating-reaffirmed-by-keefe-bruyette-woods.html.

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.

Analyst Recommendations for Commerce Bancshares (NASDAQ:CBSH)

Receive News & Ratings for Commerce Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commerce Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply