Commerce Bancshares (NASDAQ:CBSH) Raised to Sell at Wall Street Zen

Commerce Bancshares (NASDAQ:CBSH) was upgraded by Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued on Saturday.

Several other research analysts also recently commented on CBSH. Piper Sandler reiterated a “neutral” rating and set a $58.50 target price (up from $56.00) on shares of Commerce Bancshares in a research note on Thursday. Zacks Research upgraded Commerce Bancshares from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Keefe, Bruyette & Woods lifted their target price on Commerce Bancshares from $54.00 to $56.00 and gave the stock a “market perform” rating in a research note on Thursday. TD Cowen reiterated a “hold” rating and set a $54.00 target price (up from $53.00) on shares of Commerce Bancshares in a research note on Thursday. Finally, Morgan Stanley reduced their target price on Commerce Bancshares from $67.00 to $65.00 and set an “equal weight” rating for the company in a research note on Monday, March 2nd. One equities research analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $59.16.

Commerce Bancshares Stock Performance

Shares of NASDAQ CBSH opened at $50.56 on Friday. Commerce Bancshares has a 12 month low of $46.99 and a 12 month high of $63.19. The stock has a 50 day moving average of $50.33 and a 200-day moving average of $51.76. The company has a market capitalization of $7.43 billion, a P/E ratio of 12.12, a P/E/G ratio of 3.64 and a beta of 0.60.

Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Tuesday, April 21st. The financial services provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.94 by $0.02. Commerce Bancshares had a return on equity of 14.78% and a net margin of 26.37%.The company had revenue of $475.69 million during the quarter, compared to the consensus estimate of $481.94 million. During the same period in the previous year, the company posted $0.98 EPS. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. Analysts predict that Commerce Bancshares will post 4.08 EPS for the current fiscal year.

Insider Buying and Selling at Commerce Bancshares

In related news, SVP Derrick Brooks sold 1,044 shares of Commerce Bancshares stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $54.40, for a total transaction of $56,793.60. Following the completion of the sale, the senior vice president directly owned 14,585 shares of the company’s stock, valued at approximately $793,424. This trade represents a 6.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John W. Kemper sold 23,397 shares of Commerce Bancshares stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $53.99, for a total value of $1,263,204.03. Following the sale, the chief executive officer directly owned 206,528 shares of the company’s stock, valued at approximately $11,150,446.72. The trade was a 10.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 29,477 shares of company stock worth $1,586,655 in the last 90 days. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Commerce Bancshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Apriem Advisors raised its holdings in Commerce Bancshares by 5.0% in the 4th quarter. Apriem Advisors now owns 4,018 shares of the financial services provider’s stock valued at $210,000 after acquiring an additional 191 shares in the last quarter. Heartland Bank & Trust Co raised its holdings in Commerce Bancshares by 4.4% in the 4th quarter. Heartland Bank & Trust Co now owns 4,595 shares of the financial services provider’s stock valued at $240,000 after acquiring an additional 192 shares in the last quarter. Profund Advisors LLC raised its holdings in Commerce Bancshares by 4.4% in the 3rd quarter. Profund Advisors LLC now owns 4,682 shares of the financial services provider’s stock valued at $280,000 after acquiring an additional 197 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Commerce Bancshares by 0.8% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 25,004 shares of the financial services provider’s stock valued at $1,494,000 after acquiring an additional 200 shares in the last quarter. Finally, Outlook Wealth Advisors LLC raised its holdings in Commerce Bancshares by 3.7% in the 4th quarter. Outlook Wealth Advisors LLC now owns 5,934 shares of the financial services provider’s stock valued at $311,000 after acquiring an additional 214 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Commerce Bancshares Company Profile

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.