Commerce Bancshares (NASDAQ:CBSH) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Commerce Bancshares (NASDAQ:CBSH) from a hold rating to a sell rating in a research report released on Saturday morning.

CBSH has been the subject of a number of other reports. Keefe, Bruyette & Woods lowered their price target on Commerce Bancshares from $65.00 to $60.00 and set a “market perform” rating on the stock in a research report on Friday. Zacks Research downgraded Commerce Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 27th. Piper Sandler dropped their price target on Commerce Bancshares from $70.00 to $63.00 and set a “neutral” rating on the stock in a research report on Friday. Wells Fargo & Company reduced their price objective on Commerce Bancshares from $69.00 to $65.00 and set an “equal weight” rating for the company in a research report on Monday, September 29th. Finally, Bank of America raised their price objective on shares of Commerce Bancshares from $69.00 to $71.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 24th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $66.00.

Commerce Bancshares Stock Up 2.4%

Shares of NASDAQ:CBSH opened at $53.68 on Friday. The firm has a fifty day moving average of $59.95 and a two-hundred day moving average of $61.24. Commerce Bancshares has a 12-month low of $52.11 and a 12-month high of $72.75. The firm has a market capitalization of $7.16 billion, a P/E ratio of 12.81, a price-to-earnings-growth ratio of 6.61 and a beta of 0.59.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, October 16th. The financial services provider reported $1.06 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.03). The business had revenue of $440.97 million during the quarter, compared to the consensus estimate of $447.04 million. Commerce Bancshares had a return on equity of 15.73% and a net margin of 26.48%.The business’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.07 earnings per share. Equities research analysts expect that Commerce Bancshares will post 3.94 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.10 annualized dividend and a yield of 2.0%. Commerce Bancshares’s dividend payout ratio is currently 26.19%.

Institutional Trading of Commerce Bancshares

Several institutional investors and hedge funds have recently made changes to their positions in CBSH. Allspring Global Investments Holdings LLC acquired a new stake in shares of Commerce Bancshares in the 1st quarter valued at approximately $1,855,000. HighTower Advisors LLC grew its holdings in shares of Commerce Bancshares by 39.5% in the 1st quarter. HighTower Advisors LLC now owns 19,259 shares of the financial services provider’s stock valued at $1,198,000 after buying an additional 5,453 shares during the period. Alliancebernstein L.P. increased its position in shares of Commerce Bancshares by 67.6% in the 1st quarter. Alliancebernstein L.P. now owns 271,115 shares of the financial services provider’s stock valued at $16,871,000 after buying an additional 109,375 shares in the last quarter. GAMMA Investing LLC raised its stake in Commerce Bancshares by 64.9% during the 1st quarter. GAMMA Investing LLC now owns 1,878 shares of the financial services provider’s stock worth $117,000 after buying an additional 739 shares during the period. Finally, Novem Group lifted its holdings in Commerce Bancshares by 35.3% during the first quarter. Novem Group now owns 16,663 shares of the financial services provider’s stock worth $1,037,000 after acquiring an additional 4,344 shares in the last quarter. 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.