Commerce Bancshares (NASDAQ:CBSH) Downgraded by StockNews.com to “Sell”

Commerce Bancshares (NASDAQ:CBSH) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

Several other equities research analysts have also recently commented on the company. Wells Fargo & Company cut their target price on Commerce Bancshares from $70.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 9th. Morgan Stanley upgraded shares of Commerce Bancshares from an “underweight” rating to an “equal weight” rating and reduced their target price for the stock from $66.00 to $58.00 in a report on Monday, April 7th. Keefe, Bruyette & Woods lowered their price target on shares of Commerce Bancshares from $74.00 to $70.00 and set a “market perform” rating on the stock in a research note on Thursday, April 17th. Finally, Piper Sandler boosted their price target on shares of Commerce Bancshares from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Commerce Bancshares presently has a consensus rating of “Hold” and a consensus price target of $63.20.

Commerce Bancshares Stock Down 0.9%

Shares of CBSH stock opened at $64.99 on Wednesday. Commerce Bancshares has a 12-month low of $49.97 and a 12-month high of $72.75. The firm has a fifty day moving average of $61.12 and a 200-day moving average of $64.46. The company has a market capitalization of $8.67 billion, a price-to-earnings ratio of 16.21, a P/E/G ratio of 2.13 and a beta of 0.60.

Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Wednesday, April 16th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.05. The firm had revenue of $428.05 million during the quarter, compared to analysts’ expectations of $417.85 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. On average, equities analysts expect that Commerce Bancshares will post 3.94 EPS for the current year.

Insider Activity

In other Commerce Bancshares news, Director June Mcallister Fowler sold 1,618 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $60.72, for a total transaction of $98,244.96. Following the completion of the sale, the director now owns 3,175 shares of the company’s stock, valued at $192,786. This trade represents a 33.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.10% of the company’s stock.

Institutional Trading of Commerce Bancshares

Hedge funds have recently modified their holdings of the stock. Atria Wealth Solutions Inc. raised its holdings in Commerce Bancshares by 1.5% in the 4th quarter. Atria Wealth Solutions Inc. now owns 11,062 shares of the financial services provider’s stock valued at $689,000 after acquiring an additional 166 shares during the period. Canopy Partners LLC grew its position in shares of Commerce Bancshares by 4.9% in the fourth quarter. Canopy Partners LLC now owns 3,609 shares of the financial services provider’s stock valued at $225,000 after purchasing an additional 168 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of Commerce Bancshares by 0.5% in the first quarter. Louisiana State Employees Retirement System now owns 34,200 shares of the financial services provider’s stock valued at $2,128,000 after purchasing an additional 175 shares during the last quarter. Apriem Advisors increased its stake in shares of Commerce Bancshares by 5.0% during the fourth quarter. Apriem Advisors now owns 3,827 shares of the financial services provider’s stock worth $238,000 after purchasing an additional 182 shares during the period. Finally, Verde Capital Management lifted its holdings in Commerce Bancshares by 5.4% during the 4th quarter. Verde Capital Management now owns 3,573 shares of the financial services provider’s stock worth $223,000 after purchasing an additional 183 shares during the last quarter. Institutional investors and hedge funds 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.