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.
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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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