Commerce Bancshares (NASDAQ:CBSH) Stock Rating Lowered by StockNews.com

Commerce Bancshares (NASDAQ:CBSH) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

CBSH has been the subject of a number of other research reports. Keefe, Bruyette & Woods increased their target price on Commerce Bancshares from $66.00 to $78.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler increased their price objective on Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Morgan Stanley cut their target price on Commerce Bancshares from $72.00 to $66.00 and set an “underweight” rating on the stock in a research note on Thursday, March 13th. Raymond James downgraded Commerce Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Finally, Wells Fargo & Company lifted their price objective on shares of Commerce Bancshares from $67.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $68.17.

Commerce Bancshares Stock Down 0.1 %

Shares of CBSH traded down $0.08 on Tuesday, hitting $62.15. The company’s stock had a trading volume of 428,782 shares, compared to its average volume of 577,511. The firm’s fifty day moving average price is $64.18 and its 200-day moving average price is $64.47. Commerce Bancshares has a fifty-two week low of $48.49 and a fifty-two week high of $72.75. The firm has a market capitalization of $8.33 billion, a price-to-earnings ratio of 15.50, a P/E/G ratio of 2.13 and a beta of 0.78.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.06. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The company had revenue of $422.10 million during the quarter, compared to analysts’ expectations of $417.48 million. During the same quarter in the prior year, the company earned $0.84 earnings per share. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, equities analysts predict that Commerce Bancshares will post 3.94 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO John W. Kemper sold 26,042 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $67.28, for a total value of $1,752,105.76. Following the completion of the sale, the chief executive officer now directly owns 211,929 shares in the company, valued at approximately $14,258,583.12. This trade represents a 10.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP John K. Handy sold 2,722 shares of Commerce Bancshares stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $66.68, for a total value of $181,502.96. Following the transaction, the executive vice president now owns 39,638 shares of the company’s stock, valued at $2,643,061.84. The trade was a 6.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 78,434 shares of company stock valued at $5,248,272. 3.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Commerce Bancshares

A number of large investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Commerce Bancshares in the fourth quarter valued at $86,327,000. American Century Companies Inc. boosted its holdings in shares of Commerce Bancshares by 25.5% during the 4th quarter. American Century Companies Inc. now owns 3,675,031 shares of the financial services provider’s stock worth $228,991,000 after buying an additional 745,661 shares during the period. Vanguard Group Inc. grew its stake in Commerce Bancshares by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 13,225,491 shares of the financial services provider’s stock valued at $824,080,000 after buying an additional 642,401 shares during the last quarter. Aristotle Capital Management LLC raised its holdings in Commerce Bancshares by 4.3% in the 4th quarter. Aristotle Capital Management LLC now owns 8,566,476 shares of the financial services provider’s stock valued at $533,777,000 after acquiring an additional 351,406 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Commerce Bancshares by 31.8% during the fourth quarter. Northern Trust Corp now owns 1,286,483 shares of the financial services provider’s stock worth $80,161,000 after acquiring an additional 310,443 shares during the period. Institutional investors own 70.26% 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 in the United States. It operates through three segments: Consumer, Commercial, and Wealth.