Commerce Bancshares (NASDAQ:CBSH) had its price target increased by Morgan Stanley from $57.00 to $59.00 in a research note issued to investors on Tuesday. The firm currently has an “underweight” rating on the financial services provider’s stock. Morgan Stanley’s price objective points to a potential downside of 7.01% from the company’s previous close.
A number of other brokerages have also recently weighed in on CBSH. ValuEngine raised shares of Commerce Bancshares from a “hold” rating to a “buy” rating in a research note on Thursday, April 12th. DA Davidson lifted their target price on shares of Commerce Bancshares to $67.00 and gave the stock a “neutral” rating in a research note on Friday. Barclays lifted their target price on shares of Commerce Bancshares from $58.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday. BidaskClub raised shares of Commerce Bancshares from a “hold” rating to a “buy” rating in a research note on Thursday, March 15th. Finally, Zacks Investment Research raised shares of Commerce Bancshares from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research note on Monday, April 9th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $60.33.
Commerce Bancshares stock traded up $0.03 during mid-day trading on Tuesday, reaching $63.45. The company had a trading volume of 64,908 shares, compared to its average volume of 519,402. Commerce Bancshares has a 1 year low of $51.90 and a 1 year high of $64.21. The stock has a market cap of $6,689.18, a PE ratio of 22.92, a price-to-earnings-growth ratio of 2.25 and a beta of 0.69.
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, beating the Zacks’ consensus estimate of $0.71 by $0.03. Commerce Bancshares had a net margin of 27.16% and a return on equity of 13.21%. The company had revenue of $314.22 million during the quarter, compared to analysts’ expectations of $312.98 million. research analysts predict that Commerce Bancshares will post 3.51 earnings per share for the current fiscal year.
In related news, VP Daniel D. Callahan sold 2,972 shares of Commerce Bancshares stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $58.56, for a total transaction of $174,040.32. Following the transaction, the vice president now owns 36,266 shares in the company, valued at approximately $2,123,736.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John W. Kemper sold 78,359 shares of Commerce Bancshares 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 transaction, the insider now owns 1,284,021 shares in the company, valued at approximately $73,767,006.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 168,774 shares of company stock worth $9,878,981. 4.00% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the stock. Cliftonlarsonallen Wealth Advisors LLC lifted its holdings in Commerce Bancshares by 5.0% in the 4th quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 18,060 shares of the financial services provider’s stock worth $1,008,000 after buying an additional 858 shares in the last quarter. Bank of Montreal Can increased its position in shares of Commerce Bancshares by 2.5% in the 4th 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 during the last quarter. Jane Street Group LLC increased its position in shares of Commerce Bancshares by 5.9% in the 4th quarter. Jane Street Group LLC now owns 16,277 shares of the financial services provider’s stock worth $909,000 after purchasing an additional 906 shares during the last quarter. Thomas Story & Son LLC increased its position in shares of Commerce Bancshares by 5.0% in the 4th quarter. Thomas Story & Son LLC now owns 19,139 shares of the financial services provider’s stock worth $1,069,000 after purchasing an additional 910 shares during the last quarter. Finally, Bbva Compass Bancshares Inc. increased its position in shares of Commerce Bancshares by 13.0% in the 4th quarter. Bbva Compass Bancshares Inc. now owns 8,253 shares of the financial services provider’s stock worth $462,000 after purchasing an additional 952 shares during the last quarter. Institutional investors and hedge funds own 62.76% of the company’s stock.
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About Commerce Bancshares
Commerce Bancshares, Inc operates as the holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online, mobile, and telephone banking services.
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