Commerce Bancshares (NASDAQ:CBSH) Stock Rating Lowered by Wall Street Zen

Commerce Bancshares (NASDAQ:CBSH) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Wednesday.

Other analysts have also recently issued reports about the company. Wells Fargo & Company dropped their target price on Commerce Bancshares from $70.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, April 9th. Keefe, Bruyette & Woods decreased their price target on Commerce Bancshares from $74.00 to $70.00 and set a “market perform” rating on the stock in a research note on Thursday, April 17th. Morgan Stanley raised Commerce Bancshares from an “underweight” rating to an “equal weight” rating and decreased their price target for the company from $66.00 to $58.00 in a research note on Monday, April 7th. Finally, Piper Sandler increased their target price on Commerce Bancshares from $65.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $63.20.

Commerce Bancshares Stock Up 0.1%

CBSH opened at $63.23 on Wednesday. The company has a market cap of $8.44 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 2.13 and a beta of 0.60. The firm’s fifty day simple moving average is $61.20 and its two-hundred day simple moving average is $64.45. Commerce Bancshares has a 52-week low of $49.97 and a 52-week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data 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 16.31% and a net margin of 25.24%. The company had revenue of $428.05 million during the quarter, compared to analyst estimates of $417.85 million. On average, research analysts forecast that Commerce Bancshares will post 3.94 EPS for the current year.

Insider Buying and Selling

In other Commerce Bancshares news, Director June Mcallister Fowler sold 1,618 shares of the firm’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $60.72, for a total transaction of $98,244.96. Following the completion of the transaction, the director now directly owns 3,175 shares in the company, valued at approximately $192,786. This trade represents a 33.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Commerce Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CBSH. Barclays PLC grew its stake in Commerce Bancshares by 19.4% in the 3rd quarter. Barclays PLC now owns 106,934 shares of the financial services provider’s stock worth $6,353,000 after acquiring an additional 17,400 shares during the period. Wealthcare Advisory Partners LLC grew its position in shares of Commerce Bancshares by 5.3% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 3,727 shares of the financial services provider’s stock valued at $232,000 after purchasing an additional 187 shares during the period. HB Wealth Management LLC purchased a new stake in Commerce Bancshares in the 4th quarter valued at about $206,000. Crossmark Global Holdings Inc. grew its holdings in Commerce Bancshares by 4.8% in the 4th quarter. Crossmark Global Holdings Inc. now owns 7,972 shares of the financial services provider’s stock valued at $497,000 after buying an additional 367 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in Commerce Bancshares by 5.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 9,326 shares of the financial services provider’s stock valued at $581,000 after buying an additional 442 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Company Profile

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.