Stephens reiterated their equal weight rating on shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) in a research report sent to investors on Monday morning. They currently have a $56.00 target price on the financial services provider’s stock, up from their previous target price of $52.00.
A number of other research firms have also recently issued reports on CBSH. Wells Fargo & Company reiterated a market perform rating and set a $53.00 target price (up previously from $51.00) on shares of Commerce Bancshares in a report on Friday, July 14th. Piper Jaffray Companies restated a hold rating and issued a $52.00 price objective on shares of Commerce Bancshares in a report on Friday, July 14th. Jefferies Group LLC restated a hold rating and issued a $61.00 price objective on shares of Commerce Bancshares in a report on Friday, July 14th. BidaskClub upgraded Commerce Bancshares from a sell rating to a hold rating in a report on Wednesday, July 5th. Finally, Zacks Investment Research upgraded Commerce Bancshares from a hold rating to a buy rating and set a $64.00 price objective for the company in a report on Tuesday, March 21st. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Commerce Bancshares presently has a consensus rating of Hold and a consensus price target of $55.00.
Commerce Bancshares (NASDAQ:CBSH) opened at 57.74 on Monday. Commerce Bancshares has a 52 week low of $44.27 and a 52 week high of $60.61. The stock has a market cap of $5.87 billion, a P/E ratio of 20.93 and a beta of 0.81. The firm has a 50-day moving average price of $56.47 and a 200-day moving average price of $56.38.
Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Thursday, July 13th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.05. The firm had revenue of $305.89 million during the quarter, compared to analysts’ expectations of $309.44 million. Commerce Bancshares had a return on equity of 12.01% and a net margin of 23.79%. The company’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 EPS. On average, equities research analysts predict that Commerce Bancshares will post $2.94 EPS for the current year.
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In other news, insider Charles G. Kim sold 3,712 shares of the firm’s stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $55.31, for a total value of $205,310.72. Following the completion of the transaction, the insider now owns 80,475 shares in the company, valued at approximately $4,451,072.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider V Raymond Stranghoener sold 4,182 shares of the firm’s stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $56.22, for a total value of $235,112.04. Following the completion of the transaction, the insider now owns 47,112 shares of the company’s stock, valued at approximately $2,648,636.64. The disclosure for this sale can be found here. Insiders sold a total of 49,854 shares of company stock valued at $2,713,227 in the last 90 days. 4.30% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the company. Citizens Financial Group Inc. RI acquired a new position in Commerce Bancshares during the first quarter worth approximately $119,000. Mosaic Family Wealth LLC boosted its position in Commerce Bancshares by 2.9% in the first quarter. Mosaic Family Wealth LLC now owns 3,116 shares of the financial services provider’s stock worth $175,000 after buying an additional 89 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Commerce Bancshares by 67.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,173 shares of the financial services provider’s stock worth $185,000 after buying an additional 1,273 shares during the last quarter. Tudor Investment Corp Et Al acquired a new position in Commerce Bancshares during the fourth quarter worth approximately $206,000. Finally, WFG Advisors LP boosted its position in Commerce Bancshares by 2.8% in the first quarter. WFG Advisors LP now owns 3,939 shares of the financial services provider’s stock worth $221,000 after buying an additional 109 shares during the last quarter. Institutional investors and hedge funds own 62.07% of the company’s stock.
Commerce Bancshares Company Profile
Commerce Bancshares, Inc is a bank holding company of Commerce Bank (the Bank). The Bank is engaged in general banking business, providing a range of retail, mortgage banking, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.
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