Commerce Bancshares (NASDAQ:CBSH) Stock Rating Upgraded by Stephens

Commerce Bancshares (NASDAQ:CBSH) was upgraded by analysts at Stephens to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

A number of other equities analysts have also recently commented on CBSH. Hovde Group dropped their price objective on shares of Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, April 22nd. Wells Fargo & Company increased their price target on shares of Commerce Bancshares from $53.00 to $57.00 and gave the company an “equal weight” rating in a report on Monday, July 6th. Weiss Ratings upgraded Commerce Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 8th. Piper Sandler raised their price objective on Commerce Bancshares from $58.50 to $59.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. Finally, TD Cowen reiterated a “hold” rating and issued a $54.00 target price (up from $53.00) on shares of Commerce Bancshares in a report on Thursday, April 23rd. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Commerce Bancshares currently has an average rating of “Hold” and an average price target of $59.14.

Commerce Bancshares Stock Performance

CBSH stock opened at $58.16 on Tuesday. The firm has a fifty day moving average price of $54.55 and a 200 day moving average price of $52.72. Commerce Bancshares has a fifty-two week low of $46.99 and a fifty-two week high of $62.42. The firm has a market cap of $8.48 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 2.97 and a beta of 0.58.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.02. The company had revenue of $475.69 million for the quarter, compared to analysts’ expectations of $481.94 million. Commerce Bancshares had a net margin of 26.37% and a return on equity of 14.78%. Commerce Bancshares’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.98 earnings per share. On average, equities analysts predict that Commerce Bancshares will post 4.15 EPS for the current year.

Institutional Trading of Commerce Bancshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fulton Bank N.A. lifted its stake in Commerce Bancshares by 21.8% in the second quarter. Fulton Bank N.A. now owns 11,757 shares of the financial services provider’s stock worth $679,000 after purchasing an additional 2,105 shares during the last quarter. Trust Point Inc. grew its stake in shares of Commerce Bancshares by 10.6% during the second quarter. Trust Point Inc. now owns 4,919 shares of the financial services provider’s stock valued at $284,000 after buying an additional 471 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Commerce Bancshares by 39.7% during the second quarter. GAMMA Investing LLC now owns 1,900 shares of the financial services provider’s stock valued at $110,000 after buying an additional 540 shares during the last quarter. Stonebridge Financial Group LLC raised its holdings in shares of Commerce Bancshares by 4.4% in the second quarter. Stonebridge Financial Group LLC now owns 81,288 shares of the financial services provider’s stock worth $4,694,000 after buying an additional 3,433 shares during the period. Finally, Pacer Advisors Inc. raised its holdings in shares of Commerce Bancshares by 5.2% in the first quarter. Pacer Advisors Inc. now owns 16,273 shares of the financial services provider’s stock worth $801,000 after buying an additional 805 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

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.