Commerce Bancshares (NASDAQ:CBSH) Rating Increased to Hold at Raymond James Financial

Commerce Bancshares (NASDAQ:CBSH) was upgraded by equities researchers at Raymond James Financial to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other analysts have also weighed in on CBSH. Wells Fargo & Company set a $63.00 target price on shares of Commerce Bancshares and gave the stock an “equal weight” rating in a report on Monday, August 10th. Piper Sandler reaffirmed a “neutral” rating and set a $66.00 price target (up from $59.00) on shares of Commerce Bancshares in a research report on Friday, July 17th. Weiss Ratings upgraded Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, July 21st. Stephens set a $64.00 price objective on Commerce Bancshares and gave the stock an “equal weight” rating in a research report on Friday, July 17th. Finally, Keefe, Bruyette & Woods boosted their target price on Commerce Bancshares from $60.00 to $62.00 and gave the company a “market perform” rating in a research note on Monday, July 20th. Three research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $63.29.

Commerce Bancshares Stock Down 0.0%

Shares of NASDAQ CBSH opened at $58.04 on Thursday. The company has a market cap of $8.32 billion, a price-to-earnings ratio of 14.05, a PEG ratio of 2.07 and a beta of 0.59. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.01. The firm’s fifty day moving average is $58.64 and its 200 day moving average is $53.98. Commerce Bancshares has a 52 week low of $46.99 and a 52 week high of $60.92.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.06. Commerce Bancshares had a net margin of 26.07% and a return on equity of 14.31%. The business had revenue of $498.91 million for the quarter, compared to analyst estimates of $492.22 million. During the same quarter last year, the firm earned $1.14 EPS. On average, equities research analysts expect that Commerce Bancshares will post 4.25 earnings per share for the current year.

Insider Buying and Selling at Commerce Bancshares

In other Commerce Bancshares news, EVP Robert S. Holmes sold 5,000 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $60.20, for a total value of $301,000.00. Following the completion of the transaction, the executive vice president owned 55,962 shares in the company, valued at approximately $3,368,912.40. This represents a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John W. Kemper sold 5,830 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $60.58, for a total transaction of $353,181.40. Following the sale, the chief executive officer owned 206,528 shares in the company, valued at approximately $12,511,466.24. This trade represents a 2.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 32,484 shares of company stock worth $1,936,055. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CBSH. Apriem Advisors grew its holdings in Commerce Bancshares by 5.0% in the fourth quarter. Apriem Advisors now owns 4,018 shares of the financial services provider’s stock worth $210,000 after purchasing an additional 191 shares during the period. Heartland Bank & Trust Co boosted its position in shares of Commerce Bancshares by 4.4% in the 4th quarter. Heartland Bank & Trust Co now owns 4,595 shares of the financial services provider’s stock worth $240,000 after purchasing an additional 192 shares in the last quarter. Outlook Wealth Advisors LLC boosted its position in shares of Commerce Bancshares by 3.7% in the 4th quarter. Outlook Wealth Advisors LLC now owns 5,934 shares of the financial services provider’s stock worth $311,000 after purchasing an additional 214 shares in the last quarter. Centerpoint Advisory Group grew its stake in shares of Commerce Bancshares by 5.0% in the 4th quarter. Centerpoint Advisory Group now owns 4,534 shares of the financial services provider’s stock worth $237,000 after buying an additional 215 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its position in Commerce Bancshares by 85.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock valued at $29,000 after buying an additional 216 shares in the last quarter. 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.