Several other equities research analysts also recently commented on the company. Morgan Stanley reduced their price objective on Commerce Bancshares from $54.00 to $51.00 and set an “underweight” rating for the company in a report on Tuesday, March 17th. Wells Fargo & Co reiterated a “sell” rating on shares of Commerce Bancshares in a report on Friday, March 6th. Finally, DA Davidson lifted their price objective on Commerce Bancshares to $69.00 and gave the stock a “neutral” rating in a report on Tuesday, December 24th. Four investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The stock presently has a consensus rating of “Sell” and an average price target of $56.80.
CBSH opened at $51.62 on Friday. The stock has a 50-day moving average price of $61.92 and a 200-day moving average price of $64.12. The firm has a market cap of $5.58 billion, a PE ratio of 14.39, a P/E/G ratio of 5.06 and a beta of 0.81. Commerce Bancshares has a 1 year low of $45.51 and a 1 year high of $71.92.
Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.88 by $0.05. Commerce Bancshares had a return on equity of 14.18% and a net margin of 29.06%. The company had revenue of $346.12 million during the quarter, compared to the consensus estimate of $332.87 million. During the same period last year, the company earned $0.91 EPS. As a group, equities analysts anticipate that Commerce Bancshares will post 3.27 EPS for the current fiscal year.
In related news, Director David W. Kemper sold 30,981 shares of Commerce Bancshares stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $68.35, for a total value of $2,117,551.35. Following the completion of the sale, the director now directly owns 1,221,025 shares in the company, valued at approximately $83,457,058.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kevin G. Barth sold 7,107 shares of Commerce Bancshares stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $67.83, for a total value of $482,067.81. Following the completion of the sale, the executive vice president now owns 55,587 shares of the company’s stock, valued at $3,770,466.21. The disclosure for this sale can be found here. Insiders sold a total of 68,144 shares of company stock valued at $4,670,062 over the last quarter. 3.40% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in CBSH. Voya Investment Management LLC grew its stake in shares of Commerce Bancshares by 2.8% during the 3rd quarter. Voya Investment Management LLC now owns 18,151 shares of the financial services provider’s stock valued at $1,101,000 after purchasing an additional 493 shares during the period. Stifel Financial Corp grew its stake in shares of Commerce Bancshares by 4.4% during the 3rd quarter. Stifel Financial Corp now owns 21,270 shares of the financial services provider’s stock valued at $1,287,000 after purchasing an additional 889 shares during the period. California State Teachers Retirement System grew its stake in shares of Commerce Bancshares by 0.3% during the 3rd quarter. California State Teachers Retirement System now owns 158,695 shares of the financial services provider’s stock valued at $9,625,000 after purchasing an additional 428 shares during the period. Parametric Portfolio Associates LLC grew its stake in shares of Commerce Bancshares by 1.2% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 184,183 shares of the financial services provider’s stock valued at $11,171,000 after purchasing an additional 2,219 shares during the period. Finally, Resources Management Corp CT ADV bought a new stake in shares of Commerce Bancshares during the 3rd quarter valued at about $34,000. Institutional investors and hedge funds own 69.80% of the company’s stock.
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.
Further Reading: The Role of a Fiduciary and Individual Investors
Receive News & Ratings for Commerce Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commerce Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.