Commerce Bancshares (NASDAQ:CBSH) Rating Increased to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Commerce Bancshares from “sell” to “hold,” bringing the overall analyst consensus to “Hold” with an average price target of $62.43.
• Recent analyst views were mixed but generally constructive: Piper Sandler raised its target to $66, Morgan Stanley to $65, and Weiss Ratings upgraded the stock to “buy.”
• Commerce Bancshares beat quarterly expectations, reporting $1.10 EPS versus the $1.04 consensus and revenue of $498.91 million versus $492.22 million expected. Shares opened at $59.00, near their 52-week high of $60.76.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Tuesday.

Other research analysts have also recently issued reports about the company. Piper Sandler reissued a "neutral" rating and issued a $66.00 target price (up from $59.00) on shares of Commerce Bancshares in a research note on Friday, July 17th. Morgan Stanley reiterated a "positive" rating and set a $65.00 price objective (up from $61.00) on shares of Commerce Bancshares in a report on Monday, June 29th. Weiss Ratings upgraded Commerce Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, July 21st. Keefe, Bruyette & Woods increased their target price on Commerce Bancshares from $60.00 to $62.00 and gave the stock a "market perform" rating in a research note on Monday, July 20th. Finally, Stephens set a $64.00 price target on shares of Commerce Bancshares and gave the company an "equal weight" rating in a research note on Friday, July 17th. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $62.43.

Commerce Bancshares Stock Performance

Shares of Commerce Bancshares stock opened at $59.00 on Tuesday. The firm has a fifty day moving average of $55.76 and a two-hundred day moving average of $53.06. The stock has a market capitalization of $8.60 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 2.12 and a beta of 0.58. Commerce Bancshares has a 52 week low of $46.99 and a 52 week high of $60.76. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.82 and a current ratio of 0.82.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last announced its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $1.04 by $0.06. Commerce Bancshares had a net margin of 26.07% and a return on equity of 14.31%. The business had revenue of $498.91 million for the quarter, compared to the consensus estimate of $492.22 million. During the same period last year, the company posted $1.14 EPS. As a group, equities research analysts predict that Commerce Bancshares will post 4.22 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Apriem Advisors lifted its stake in Commerce Bancshares by 5.0% in the fourth quarter. Apriem Advisors now owns 4,018 shares of the financial services provider's stock worth $210,000 after acquiring an additional 191 shares during the period. Heartland Bank & Trust Co grew its holdings in Commerce Bancshares by 4.4% during the 4th quarter. Heartland Bank & Trust Co now owns 4,595 shares of the financial services provider's stock worth $240,000 after acquiring an additional 192 shares in the last quarter. Outlook Wealth Advisors LLC increased its position in Commerce Bancshares by 3.7% during the 4th quarter. Outlook Wealth Advisors LLC now owns 5,934 shares of the financial services provider's stock valued at $311,000 after purchasing an additional 214 shares during the period. Elser Financial Planning Inc increased its position in Commerce Bancshares by 5.0% during the 4th quarter. Elser Financial Planning Inc now owns 4,531 shares of the financial services provider's stock valued at $237,000 after purchasing an additional 215 shares during the period. Finally, Centerpoint Advisory Group raised its holdings in shares of Commerce Bancshares by 5.0% in the 4th quarter. Centerpoint Advisory Group now owns 4,534 shares of the financial services provider's stock valued at $237,000 after purchasing an additional 215 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

About Commerce Bancshares

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company's commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.

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