Commerce Bancshares (NASDAQ:CBSH - Get Free Report) had its price objective increased by investment analysts at Wells Fargo & Company from $60.00 to $62.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the financial services provider's stock. Wells Fargo & Company's target price points to a potential downside of 5.39% from the stock's previous close.
Other equities research analysts also recently issued reports about the company. Morgan Stanley increased their price target on Commerce Bancshares from $58.00 to $61.00 and gave the stock an "equal weight" rating in a report on Tuesday, June 17th. Wall Street Zen lowered shares of Commerce Bancshares from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Keefe, Bruyette & Woods lowered their price target on Commerce Bancshares from $74.00 to $70.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Bank of America raised their price target on Commerce Bancshares from $69.00 to $71.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 24th. Finally, Piper Sandler upped their target price on Commerce Bancshares from $65.00 to $66.00 and gave the company a "neutral" rating in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $66.00.
Read Our Latest Stock Analysis on Commerce Bancshares
Commerce Bancshares Stock Performance
Shares of CBSH stock opened at $65.54 on Thursday. Commerce Bancshares has a one year low of $52.69 and a one year high of $72.75. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.76 and a current ratio of 0.76. The firm's 50 day moving average price is $63.06 and its 200-day moving average price is $62.78. The firm has a market cap of $8.74 billion, a P/E ratio of 15.82, a P/E/G ratio of 2.88 and a beta of 0.59.
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 the consensus estimate of $0.93 by $0.05. Commerce Bancshares had a return on equity of 16.23% and a net margin of 25.95%. The firm had revenue of $428.05 million during the quarter, compared to analysts' expectations of $417.85 million. As a group, equities research analysts predict that Commerce Bancshares will post 3.94 EPS for the current year.
Insider Activity at Commerce Bancshares
In related news, Director June Mcallister Fowler sold 1,618 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $60.72, for a total value of $98,244.96. Following the completion of the transaction, the director directly owned 3,175 shares of the company's stock, valued at $192,786. This trade represents a 33.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.10% of the company's stock.
Institutional Investors Weigh In On Commerce Bancshares
Hedge funds have recently added to or reduced their stakes in the stock. Kapitalo Investimentos Ltda bought a new position in shares of Commerce Bancshares in the 4th quarter valued at about $26,000. Smartleaf Asset Management LLC increased its stake in shares of Commerce Bancshares by 191.0% in the 1st quarter. Smartleaf Asset Management LLC now owns 451 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 296 shares during the last quarter. IMA Advisory Services Inc. bought a new position in Commerce Bancshares during the first quarter worth about $29,000. Geneos Wealth Management Inc. lifted its holdings in Commerce Bancshares by 85.4% during the first 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 in the last quarter. Finally, CoreFirst Bank & Trust bought a new position in shares of Commerce Bancshares in the 4th quarter valued at about $33,000. Institutional investors own 70.26% of the company's stock.
About Commerce Bancshares
(
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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