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

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

CBSH has been the topic of several other research reports. Morgan Stanley lowered shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $66.00 to $64.00 in a research report on Monday, September 30th. Wells Fargo & Company boosted their price target on shares of Commerce Bancshares from $52.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Monday, July 22nd. Jefferies Financial Group boosted their price target on shares of Commerce Bancshares from $60.00 to $62.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Finally, Piper Sandler set a $68.50 price target on shares of Commerce Bancshares and gave the stock a “neutral” rating in a research report on Friday. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Commerce Bancshares currently has a consensus rating of “Hold” and an average price target of $61.79.

Commerce Bancshares Stock Up 0.3 %

Shares of NASDAQ CBSH opened at $61.28 on Friday. The company’s 50-day simple moving average is $61.10 and its 200-day simple moving average is $58.07. Commerce Bancshares has a 52-week low of $40.91 and a 52-week high of $65.86. The firm has a market cap of $7.94 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 3.02 and a beta of 0.74.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, July 18th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.17. Commerce Bancshares had a net margin of 23.62% and a return on equity of 16.50%. The business had revenue of $414.90 million for the quarter, compared to analyst estimates of $406.88 million. During the same quarter last year, the business earned $0.97 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities research analysts anticipate that Commerce Bancshares will post 3.92 EPS for the current fiscal year.

Insider Activity

In related news, EVP Robert S. Holmes sold 3,795 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $64.75, for a total transaction of $245,726.25. Following the sale, the executive vice president now directly owns 50,293 shares of the company’s stock, valued at $3,256,471.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Patricia R. Kellerhals sold 1,500 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $60.82, for a total value of $91,230.00. Following the completion of the transaction, the senior vice president now owns 25,381 shares in the company, valued at approximately $1,543,672.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Robert S. Holmes sold 3,795 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $64.75, for a total transaction of $245,726.25. Following the completion of the transaction, the executive vice president now owns 50,293 shares of the company’s stock, valued at approximately $3,256,471.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,612 shares of company stock valued at $3,184,609. Company insiders own 3.20% of the company’s stock.

Institutional Trading of Commerce Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the business. V Square Quantitative Management LLC purchased a new stake in Commerce Bancshares in the 3rd quarter valued at $26,000. Bessemer Group Inc. raised its position in Commerce Bancshares by 86.3% during the 1st quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock worth $45,000 after buying an additional 390 shares during the last quarter. GAMMA Investing LLC raised its position in Commerce Bancshares by 156.5% during the 2nd quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock worth $48,000 after buying an additional 521 shares during the last quarter. Eagle Bay Advisors LLC raised its position in Commerce Bancshares by 2,864.7% during the 2nd quarter. Eagle Bay Advisors LLC now owns 1,008 shares of the financial services provider’s stock worth $56,000 after buying an additional 974 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Commerce Bancshares by 12,340.0% in the 3rd quarter. Blue Trust Inc. now owns 1,244 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 1,234 shares in the last quarter. Hedge funds and other institutional investors 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.