Commerce Bancshares’ (CBSH) Market Perform Rating Reaffirmed at Wells Fargo & Company

Commerce Bancshares, Inc. (NASDAQ:CBSH)‘s stock had its “market perform” rating reiterated by equities research analysts at Wells Fargo & Company in a note issued to investors on Friday, July 14th. They presently have a $53.00 price objective on the financial services provider’s stock, up from their prior price objective of $51.00. Wells Fargo & Company’s price target would suggest a potential downside of 4.02% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Commerce Bancshares from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a report on Tuesday, March 21st. BidaskClub lowered shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Stephens reiterated a “hold” rating on shares of Commerce Bancshares in a report on Monday, April 17th. Barclays PLC lifted their price objective on shares of Commerce Bancshares from $54.00 to $55.00 and gave the company an “equal weight” rating in a report on Wednesday, April 19th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $61.00 price objective on shares of Commerce Bancshares in a report on Tuesday, April 4th. Five analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $55.00.

Commerce Bancshares (NASDAQ CBSH) opened at 55.22 on Friday. The stock has a 50 day moving average price of $57.34 and a 200 day moving average price of $56.49. Commerce Bancshares has a 52-week low of $45.37 and a 52-week high of $60.61. The company has a market capitalization of $5.61 billion, a price-to-earnings ratio of 20.01 and a beta of 0.81.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Thursday, July 13th. The financial services provider reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.05. Commerce Bancshares had a net margin of 23.79% and a return on equity of 12.01%. The business had revenue of $305.89 million during the quarter, compared to analyst estimates of $309.44 million. During the same quarter last year, the business earned $0.70 earnings per share. Commerce Bancshares’s quarterly revenue was up 6.1% compared to the same quarter last year. Analysts anticipate that Commerce Bancshares will post $2.94 EPS for the current fiscal year.

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In related news, Vice Chairman Jonathan M. Kemper sold 36,979 shares of the business’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $54.10, for a total value of $2,000,563.90. Following the completion of the transaction, the insider now directly owns 1,045,605 shares in the company, valued at approximately $56,567,230.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jeffery D. Aberdeen sold 687 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $59.09, for a total transaction of $40,594.83. Following the completion of the transaction, the insider now owns 40,232 shares of the company’s stock, valued at $2,377,308.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,099 shares of company stock valued at $2,643,431. Company insiders own 4.30% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake in shares of Commerce Bancshares by 5.0% in the second quarter. Dimensional Fund Advisors LP now owns 924,115 shares of the financial services provider’s stock valued at $52,520,000 after buying an additional 43,967 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of Commerce Bancshares by 3.7% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 16,605 shares of the financial services provider’s stock valued at $944,000 after buying an additional 600 shares during the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of Commerce Bancshares by 7.3% in the second quarter. Parametric Portfolio Associates LLC now owns 199,758 shares of the financial services provider’s stock valued at $11,352,000 after buying an additional 13,643 shares during the last quarter. Advisor Group Inc. raised its stake 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. Finally, Suntrust Banks Inc. raised its stake in shares of Commerce Bancshares by 35.3% in the second quarter. Suntrust Banks Inc. now owns 7,793 shares of the financial services provider’s stock valued at $442,000 after buying an additional 2,035 shares during the last quarter. Hedge funds and other institutional investors own 62.13% of the company’s stock.

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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