Bank of America Corp. Upgrades Commerce Bancshares to Neutral (CBSH)
Commerce Bancshares (NASDAQ:CBSH) was upgraded by Bank of America Corp. from an “underperform” rating to a “neutral” rating in a research note issued on Thursday, AnalystRatings.NET reports. The firm currently has a $85.00 price target on the stock, up from their previous price target of $46.00. Bank of America Corp.’s price objective would suggest a potential upside of 90.11% from the company’s current price.
CBSH has been the subject of a number of other recent research reports. Analysts at Morgan Stanley upgraded shares of Commerce Bancshares from an “underweight” rating to an “equal weight” rating in a research note to investors on Monday. They now have a $43.00 price target on the stock. Separately, analysts at Keefe, Bruyette & Woods cut their price target on shares of Commerce Bancshares from $43.00 to $41.00 in a research note to investors on Monday, December 16th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Commerce Bancshares in a research note to investors on Tuesday, November 26th. They now have a $50.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $49.88.
Shares of Commerce Bancshares (NASDAQ:CBSH) traded up 2.12% on Thursday, hitting $45.66. 646,759 shares of the company’s stock traded hands. Commerce Bancshares has a 52 week low of $34.2857 and a 52 week high of $45.7714. The stock has a 50-day moving average of $44.65 and a 200-day moving average of $43.31. The company has a market cap of $4.377 billion and a price-to-earnings ratio of 16.41.
Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Tuesday, October 15th. The company reported $0.75 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.72 by $0.03. During the same quarter last year, the company posted $0.71 earnings per share. On average, analysts predict that Commerce Bancshares will post $2.75 earnings per share for the current fiscal year.
Commerce Bancshares, Inc is a bank holding company. Through a wholly owned bank holding company, it owns all of the outstanding capital stock of Commerce Bank (NASDAQ:CBSH).
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