Commerce Bancshares (NASDAQ:CBSH - Get Free Report) had its price target boosted by stock analysts at Bank of America from $69.00 to $71.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the financial services provider's stock. Bank of America's price target would indicate a potential upside of 15.71% from the stock's current price.
CBSH has been the subject of a number of other research reports. Wall Street Zen cut shares of Commerce Bancshares from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Piper Sandler raised their price target on Commerce Bancshares from $65.00 to $66.00 and gave the stock a "neutral" rating in a research report on Thursday, April 17th. Keefe, Bruyette & Woods decreased their price objective on Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating for the company in a research report on Thursday, April 17th. Morgan Stanley raised their target price on shares of Commerce Bancshares from $58.00 to $61.00 and gave the stock an "equal weight" rating in a report on Tuesday, June 17th. Finally, Wells Fargo & Company cut their price target on Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, Commerce Bancshares currently has an average rating of "Hold" and a consensus price target of $65.00.
Check Out Our Latest Analysis on CBSH
Commerce Bancshares Trading Up 1.0%
CBSH opened at $61.36 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market cap of $8.19 billion, a price-to-earnings ratio of 14.86, a price-to-earnings-growth ratio of 4.02 and a beta of 0.60. The firm has a 50 day simple moving average of $62.29 and a 200 day simple moving average of $62.98. Commerce Bancshares has a fifty-two week low of $50.90 and a fifty-two week high of $72.75.
Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last released its earnings results on Wednesday, April 16th. The financial services provider reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.05. The firm had revenue of $428.05 million during the quarter, compared to analyst estimates of $417.85 million. Commerce Bancshares had a net margin of 25.95% and a return on equity of 16.23%. On average, sell-side analysts anticipate that Commerce Bancshares will post 3.94 earnings per share for the current year.
Insider Buying and Selling
In other Commerce Bancshares news, Director June Mcallister Fowler sold 1,618 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $60.72, for a total transaction of $98,244.96. Following the sale, the director now directly owns 3,175 shares of the company's stock, valued at approximately $192,786. This represents a 33.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.10% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Commerce Bancshares
A number of institutional investors and hedge funds have recently modified their holdings of CBSH. Kapitalo Investimentos Ltda bought a new position in Commerce Bancshares during the fourth quarter worth about $26,000. Smartleaf Asset Management LLC lifted its position in shares of Commerce Bancshares by 191.0% in the first quarter. Smartleaf Asset Management LLC now owns 451 shares of the financial services provider's stock valued at $28,000 after buying an additional 296 shares during the last quarter. IMA Advisory Services Inc. bought a new position in shares of Commerce Bancshares during the 1st quarter worth approximately $29,000. Geneos Wealth Management Inc. increased its holdings in shares of Commerce Bancshares by 85.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider's stock worth $29,000 after acquiring an additional 216 shares during the last quarter. Finally, CoreFirst Bank & Trust acquired a new position in shares of Commerce Bancshares during the 4th quarter worth approximately $33,000. 70.26% of the stock is owned by institutional investors.
Commerce Bancshares Company Profile
(
Get Free Report)
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.
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