Commerce Bancshares (NASDAQ:CBSH) Lifted to Hold at StockNews.com

Commerce Bancshares (NASDAQ:CBSH) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

Several other research firms have also recently issued reports on CBSH. Morgan Stanley increased their price target on shares of Commerce Bancshares from $46.00 to $55.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Keefe, Bruyette & Woods increased their target price on shares of Commerce Bancshares from $56.00 to $58.00 and gave the company a “market perform” rating in a report on Wednesday. Raymond James raised shares of Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 target price for the company in a report on Wednesday. Piper Sandler increased their target price on shares of Commerce Bancshares from $53.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Bank of America assumed coverage on shares of Commerce Bancshares in a report on Thursday, January 11th. They issued a “neutral” rating and a $55.00 target price for the company. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $55.00.

Commerce Bancshares Stock Up 2.0 %

NASDAQ CBSH traded up $1.06 during trading hours on Wednesday, hitting $53.07. 810,414 shares of the stock were exchanged, compared to its average volume of 489,016. The company has a market cap of $6.89 billion, a price-to-earnings ratio of 14.62 and a beta of 0.79. Commerce Bancshares has a 12-month low of $40.91 and a 12-month high of $56.75. The stock has a 50-day moving average of $51.97 and a 200 day moving average of $50.92.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.06. The firm had revenue of $397.80 million during the quarter, compared to analysts’ expectations of $389.49 million. Commerce Bancshares had a net margin of 24.41% and a return on equity of 17.46%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 earnings per share. On average, equities research analysts expect that Commerce Bancshares will post 3.24 earnings per share for the current year.

Insider Activity

In related news, EVP Robert S. Holmes sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $52.66, for a total transaction of $263,300.00. Following the sale, the executive vice president now owns 50,293 shares in the company, valued at $2,648,429.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Robert S. Holmes sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $52.66, for a total transaction of $263,300.00. Following the sale, the executive vice president now owns 50,293 shares in the company, valued at $2,648,429.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Patricia R. Kellerhals sold 730 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $54.87, for a total transaction of $40,055.10. Following the sale, the senior vice president now owns 25,502 shares in the company, valued at approximately $1,399,294.74. The disclosure for this sale can be found here. Insiders have sold 14,321 shares of company stock worth $752,387 over the last ninety days. 3.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Commerce Bancshares

Hedge funds have recently made changes to their positions in the stock. First Republic Investment Management Inc. raised its stake in shares of Commerce Bancshares by 0.3% in the 2nd quarter. First Republic Investment Management Inc. now owns 53,245 shares of the financial services provider’s stock valued at $3,496,000 after acquiring an additional 138 shares during the period. Cetera Advisors LLC raised its stake in shares of Commerce Bancshares by 3.6% in the 4th quarter. Cetera Advisors LLC now owns 5,099 shares of the financial services provider’s stock valued at $347,000 after acquiring an additional 179 shares during the period. Capital Advisors Inc. OK raised its stake in shares of Commerce Bancshares by 5.0% in the 4th quarter. Capital Advisors Inc. OK now owns 4,431 shares of the financial services provider’s stock valued at $237,000 after acquiring an additional 210 shares during the period. Signaturefd LLC raised its stake in shares of Commerce Bancshares by 14.4% in the 4th quarter. Signaturefd LLC now owns 1,694 shares of the financial services provider’s stock valued at $90,000 after acquiring an additional 213 shares during the period. Finally, Angeles Investment Advisors LLC raised its stake in shares of Commerce Bancshares by 5.0% in the 4th quarter. Angeles Investment Advisors LLC now owns 4,557 shares of the financial services provider’s stock valued at $243,000 after acquiring an additional 217 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc operates as the bank holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses in the United States. It operates through three segments: Consumer, Commercial, and Wealth.