Morgan Stanley Reiterates Sell Rating for Commerce Bancshares (NASDAQ:CBSH)

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Commerce Bancshares (NASDAQ:CBSH)‘s stock had its “sell” rating reissued by analysts at Morgan Stanley in a report released on Monday, AnalystRatings.com reports. They currently have a $52.40 price target on the financial services provider’s stock, down from their prior price target of $55.00. Morgan Stanley’s target price suggests a potential downside of 17.55% from the company’s previous close.

Several other research firms have also recently commented on CBSH. BidaskClub upgraded Commerce Bancshares from a “hold” rating to a “buy” rating in a research note on Thursday. Stephens restated a “hold” rating and set a $59.00 price objective on shares of Commerce Bancshares in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Commerce Bancshares presently has a consensus rating of “Hold” and a consensus price target of $58.14.

CBSH traded down $3.48 during trading hours on Monday, reaching $63.55. 623,109 shares of the stock traded hands, compared to its average volume of 442,243. Commerce Bancshares has a fifty-two week low of $53.40 and a fifty-two week high of $67.84. The company has a market cap of $7.19 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 6.00 and a beta of 0.77. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.73 and a quick ratio of 0.73. The firm’s fifty day simple moving average is $64.67 and its two-hundred day simple moving average is $60.27.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. The firm had revenue of $336.30 million for the quarter, compared to analyst estimates of $337.31 million. Commerce Bancshares had a net margin of 29.34% and a return on equity of 14.52%. The firm’s revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.03 EPS. On average, research analysts predict that Commerce Bancshares will post 3.72 earnings per share for the current year.

In other Commerce Bancshares news, VP Daniel D. Callahan sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $65.70, for a total transaction of $262,800.00. Following the sale, the vice president now owns 16,997 shares in the company, valued at $1,116,702.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP John K. Handy sold 1,646 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $67.37, for a total value of $110,891.02. Following the transaction, the executive vice president now directly owns 32,907 shares in the company, valued at approximately $2,216,944.59. The disclosure for this sale can be found here. Insiders have sold a total of 49,462 shares of company stock worth $3,190,154 over the last quarter. 3.60% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of CBSH. Parametric Portfolio Associates LLC raised its stake in Commerce Bancshares by 1.2% during the third quarter. Parametric Portfolio Associates LLC now owns 184,183 shares of the financial services provider’s stock worth $11,171,000 after acquiring an additional 2,219 shares during the period. California State Teachers Retirement System boosted its position in 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. Stifel Financial Corp grew its stake in Commerce Bancshares by 4.4% during the 3rd quarter. Stifel Financial Corp now owns 21,270 shares of the financial services provider’s stock worth $1,287,000 after buying an additional 889 shares during the last quarter. Voya Investment Management LLC grew its stake in 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 worth $1,101,000 after buying an additional 493 shares during the last quarter. Finally, Barber Financial Group Inc. grew its stake in Commerce Bancshares by 6.8% during the 3rd quarter. Barber Financial Group Inc. now owns 16,628 shares of the financial services provider’s stock worth $1,008,000 after buying an additional 1,053 shares during the last quarter. 69.10% of the stock is owned by institutional investors and hedge funds.

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. 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.

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Analyst Recommendations for Commerce Bancshares (NASDAQ:CBSH)

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