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

Commerce Bancshares (NASDAQ:CBSH) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.

A number of other research analysts have also recently commented on the stock. Keefe, Bruyette & Woods raised their price target on shares of Commerce Bancshares from $56.00 to $58.00 and gave the stock a “market perform” rating in a research note on Wednesday. Piper Sandler raised their price target on shares of Commerce Bancshares from $53.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday. Bank of America initiated coverage on shares of Commerce Bancshares in a research note on Thursday, January 11th. They issued a “neutral” rating and a $55.00 target price for the company. Morgan Stanley lifted their target price on shares of Commerce Bancshares from $46.00 to $55.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Finally, Raymond James upgraded 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 research note on Wednesday. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $55.00.

Commerce Bancshares Stock Performance

Shares of NASDAQ:CBSH traded up $1.06 during midday trading on Wednesday, hitting $53.07. The company’s stock had a trading volume of 810,414 shares, compared to its average volume of 489,016. The stock’s 50 day simple moving average is $51.97 and its 200 day simple moving average is $50.92. Commerce Bancshares has a fifty-two week low of $40.91 and a fifty-two week high of $56.75. The stock has a market capitalization of $6.89 billion, a price-to-earnings ratio of 14.62 and a beta of 0.79.

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

Insider Activity at Commerce Bancshares

In related news, Director Benjamin F. Rassieur III sold 1,785 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $53.83, for a total value of $96,086.55. Following the completion of the sale, the director now owns 33,567 shares of the company’s stock, valued at $1,806,911.61. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Commerce Bancshares news, Director Benjamin F. Rassieur III sold 1,785 shares of Commerce Bancshares stock in a transaction on Monday, January 29th. The shares were sold at an average price of $53.83, for a total transaction of $96,086.55. Following the completion of the sale, the director now owns 33,567 shares of the company’s stock, valued at approximately $1,806,911.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert S. Holmes sold 5,000 shares of Commerce Bancshares stock in a transaction on Monday, March 11th. The stock was sold at an average price of $52.66, for a total transaction of $263,300.00. Following the sale, the executive vice president now directly owns 50,293 shares of the company’s stock, valued at approximately $2,648,429.38. The disclosure for this sale can be found here. Insiders sold a total of 14,321 shares of company stock valued at $752,387 over the last quarter. Corporate insiders own 3.10% of the company’s stock.

Institutional Trading of Commerce Bancshares

Institutional investors have recently bought and sold shares of the business. First Republic Investment Management Inc. boosted its position in shares of Commerce Bancshares by 0.3% during the second quarter. First Republic Investment Management Inc. now owns 53,245 shares of the financial services provider’s stock worth $3,496,000 after purchasing an additional 138 shares in the last quarter. Cetera Advisors LLC boosted its position in shares of Commerce Bancshares by 3.6% during the fourth quarter. Cetera Advisors LLC now owns 5,099 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 179 shares in the last quarter. Capital Advisors Inc. OK boosted its position in shares of Commerce Bancshares by 5.0% during the fourth quarter. Capital Advisors Inc. OK now owns 4,431 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 210 shares in the last quarter. Signaturefd LLC boosted its position in shares of Commerce Bancshares by 14.4% during the fourth quarter. Signaturefd LLC now owns 1,694 shares of the financial services provider’s stock worth $90,000 after purchasing an additional 213 shares in the last quarter. Finally, Angeles Investment Advisors LLC boosted its position in shares of Commerce Bancshares by 5.0% during the fourth quarter. Angeles Investment Advisors LLC now owns 4,557 shares of the financial services provider’s stock worth $243,000 after purchasing an additional 217 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

About Commerce Bancshares

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.