Commerce Bancshares (NASDAQ:CBSH) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Monday, February 5th.
CBSH has been the topic of a number of other reports. Zacks Investment Research upgraded Commerce Bancshares from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research report on Monday, January 8th. Keefe, Bruyette & Woods restated a “sell” rating and set a $54.00 target price on shares of Commerce Bancshares in a research report on Friday, January 19th. Piper Jaffray Companies reiterated a “hold” rating and issued a $58.00 price objective on shares of Commerce Bancshares in a report on Tuesday, January 9th. Finally, Barclays reiterated a “hold” rating and issued a $63.00 price objective on shares of Commerce Bancshares in a report on Sunday, January 21st. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $57.13.
Commerce Bancshares (NASDAQ:CBSH) traded up $0.30 during trading on Monday, hitting $57.19. The stock had a trading volume of 334,552 shares, compared to its average volume of 484,047. The firm has a market cap of $6,065.33, a PE ratio of 19.73, a price-to-earnings-growth ratio of 2.13 and a beta of 0.77. Commerce Bancshares has a 52-week low of $51.90 and a 52-week high of $60.61.
Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Thursday, January 18th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.03. The company had revenue of $314.22 million during the quarter, compared to analyst estimates of $312.98 million. Commerce Bancshares had a return on equity of 12.22% and a net margin of 25.27%. research analysts predict that Commerce Bancshares will post 3.36 earnings per share for the current fiscal year.
In related news, insider John W. Kemper sold 78,359 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $57.45, for a total transaction of $4,501,724.55. Following the completion of the transaction, the insider now owns 1,284,021 shares in the company, valued at $73,767,006.45. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Jonathan M. Kemper sold 55,000 shares of the business’s stock in a transaction on Monday, December 11th. The stock was 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. Insiders have sold 171,298 shares of company stock worth $9,758,949 in the last ninety days. Corporate insiders own 4.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. M&T Bank Corp raised its holdings in shares of Commerce Bancshares by 1.0% in the second quarter. M&T Bank Corp now owns 6,179 shares of the financial services provider’s stock valued at $351,000 after buying an additional 62 shares during the last quarter. Advisor Group Inc. raised its holdings in shares of Commerce Bancshares by 2.4% in the second quarter. Advisor Group Inc. now owns 5,023 shares of the financial services provider’s stock valued at $250,000 after buying an additional 120 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in Commerce Bancshares by 3.7% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 16,605 shares of the financial services provider’s stock worth $944,000 after purchasing an additional 600 shares in the last quarter. Cliftonlarsonallen Wealth Advisors LLC raised its holdings in Commerce Bancshares by 5.0% during the fourth quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 18,060 shares of the financial services provider’s stock worth $1,008,000 after purchasing an additional 858 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in Commerce Bancshares by 2.5% during the fourth quarter. Bank of Montreal Can now owns 35,974 shares of the financial services provider’s stock worth $2,009,000 after purchasing an additional 866 shares in the last quarter. Institutional investors own 59.77% of the company’s stock.
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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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