Commerce Bancshares’ (NASDAQ:CBSH) “Hold” Rating Reaffirmed at Stephens

Commerce Bancshares (NASDAQ:CBSH)‘s stock had its “hold” rating restated by investment analysts at Stephens in a report issued on Wednesday, October 16th, AnalystRatings.com reports. They currently have a $59.00 target price on the financial services provider’s stock. Stephens’ target price would suggest a potential downside of 10.96% from the stock’s previous close.

A number of other research firms have also recently issued reports on CBSH. Morgan Stanley reduced their target price on shares of Commerce Bancshares from $56.00 to $55.00 and set an “underweight” rating for the company in a research note on Thursday, October 3rd. BidaskClub upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, September 12th. Raymond James lowered shares of Commerce Bancshares from a “market perform” rating to an “underperform” rating in a research report on Monday, July 8th. Finally, DA Davidson lifted their price target on shares of Commerce Bancshares to $62.00 and gave the company a “neutral” rating in a research report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $58.57.

CBSH traded down $0.08 during midday trading on Wednesday, hitting $66.26. 351,400 shares of the company were exchanged, compared to its average volume of 447,861. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $7.14 billion, a price-to-earnings ratio of 17.53, a price-to-earnings-growth ratio of 5.99 and a beta of 0.76. The company’s 50 day simple moving average is $62.02 and its 200 day simple moving average is $59.67. Commerce Bancshares has a 1-year low of $53.40 and a 1-year high of $67.50.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.06. The firm had revenue of $336.30 million during the quarter, compared to analysts’ expectations of $337.31 million. Commerce Bancshares had a net margin of 29.34% and a return on equity of 14.52%. The company’s revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.03 earnings per share. On average, equities analysts anticipate that Commerce Bancshares will post 3.71 EPS for the current year.

In related news, VP Daniel D. Callahan sold 4,000 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $65.70, for a total transaction of $262,800.00. Following the transaction, the vice president now owns 16,997 shares of the company’s stock, valued at $1,116,702.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jeffrey M. Burik sold 3,200 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $60.96, for a total transaction of $195,072.00. Following the transaction, the senior vice president now directly owns 17,120 shares in the company, valued at approximately $1,043,635.20. The disclosure for this sale can be found here. Insiders have sold 42,347 shares of company stock worth $2,712,104 in the last ninety days. 3.60% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Nomura Asset Management Co. Ltd. bought a new stake in Commerce Bancshares in the 2nd quarter valued at $35,000. Synovus Financial Corp bought a new stake in Commerce Bancshares in the 2nd quarter valued at $49,000. Captrust Financial Advisors bought a new stake in Commerce Bancshares in the 2nd quarter valued at $50,000. Meeder Asset Management Inc. increased its holdings in Commerce Bancshares by 217.0% in the 3rd quarter. Meeder Asset Management Inc. now owns 821 shares of the financial services provider’s stock valued at $50,000 after buying an additional 562 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in Commerce Bancshares in the 2nd quarter valued at $60,000. 65.81% of the stock is currently owned by institutional investors and hedge funds.

About Commerce Bancshares

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. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online banking services.

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Analyst Recommendations for Commerce Bancshares (NASDAQ:CBSH)

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