Commerce Bancshares (NASDAQ:CBSH - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Wednesday.
Several other brokerages have also weighed in on CBSH. 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 report on Thursday, April 17th. Piper Sandler increased their price objective on Commerce Bancshares from $65.00 to $66.00 and gave the stock a "neutral" rating in a report on Thursday, April 17th. Morgan Stanley upgraded Commerce Bancshares from an "underweight" rating to an "equal weight" rating and cut their target price for the stock from $66.00 to $58.00 in a research note on Monday, April 7th. Finally, Wells Fargo & Company decreased their price target on Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $63.20.
View Our Latest Analysis on Commerce Bancshares
Commerce Bancshares Stock Performance
Shares of Commerce Bancshares stock traded down $0.47 during mid-day trading on Wednesday, hitting $62.76. 484,581 shares of the stock were exchanged, compared to its average volume of 594,419. Commerce Bancshares has a 12 month low of $49.97 and a 12 month high of $72.75. The company has a 50-day simple moving average of $61.22 and a 200 day simple moving average of $64.34. The company has a market capitalization of $8.37 billion, a P/E ratio of 15.65, a P/E/G ratio of 2.13 and a beta of 0.60.
Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last issued its quarterly 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. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. The business had revenue of $428.05 million for the quarter, compared to analyst estimates of $417.85 million. Analysts predict that Commerce Bancshares will post 3.94 EPS for the current year.
Insider Buying and Selling at Commerce Bancshares
In other Commerce Bancshares news, Director June Mcallister Fowler sold 1,618 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $60.72, for a total value of $98,244.96. Following the completion of the transaction, the director now owns 3,175 shares of the company's stock, valued at $192,786. The trade was a 33.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.10% of the company's stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kapitalo Investimentos Ltda bought a new stake in Commerce Bancshares during the fourth quarter worth about $26,000. Smartleaf Asset Management LLC raised its holdings in shares of Commerce Bancshares by 191.0% during the 1st 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 in the last quarter. IMA Advisory Services Inc. bought a new stake in Commerce Bancshares in the 1st quarter worth approximately $29,000. Geneos Wealth Management Inc. boosted its stake in Commerce Bancshares by 85.4% in the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider's stock worth $29,000 after buying an additional 216 shares in the last quarter. Finally, CoreFirst Bank & Trust bought a new position in Commerce Bancshares during the fourth quarter valued at approximately $33,000. 70.26% of the stock is currently owned by hedge funds and other 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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