Commerce Bancshares Upgraded to Neutral at Merrill Lynch (CBSH)
Commerce Bancshares (NASDAQ:CBSH) was upgraded by research analysts at Merrill Lynch to a “neutral” rating in a report released on Thursday, Stock Ratings Network reports.
Commerce Bancshares (NASDAQ:CBSH) traded up 2.39% on Thursday, hitting $45.78. The stock had a trading volume of 762,911 shares. Commerce Bancshares has a 1-year low of $34.2857 and a 1-year 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 $4.388 billion and a price-to-earnings ratio of 16.41.
Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly 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 in the prior 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.
A number of other analysts have also recently weighed in on CBSH. Analysts at Bank of America Corp. upgraded shares of Commerce Bancshares from an “underperform” rating to a “neutral” rating in a research note to investors on Thursday. They now have a $85.00 price target on the stock, up previously from $46.00. Separately, 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. Finally, 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. Commerce Bancshares has an average rating of “Hold” and an average target price of $49.88.
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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