Commerce Bancshares Given Average Recommendation of “Buy” by Brokerages (NASDAQ:CBSH)
Shares of Commerce Bancshares (NASDAQ:CBSH) have been given a consensus recommendation of “Buy” by the eight analysts that are presently covering the stock, Analyst Ratings Network.com reports. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $45.57.
Commerce Bancshares (NASDAQ:CBSH) opened at 46.45 on Wednesday. Commerce Bancshares has a 52-week low of $40.0381 and a 52-week high of $47.65. The stock has a 50-day moving average of $45.44 and a 200-day moving average of $44.65. The company has a market cap of $4.421 billion and a price-to-earnings ratio of 16.87. Commerce Bancshares also was the recipient of a significant growth in short interest in June. As of June 30th, there was short interest totalling 4,429,661 shares, a growth of 189.4% from the June 13th total of 1,530,648 shares. Based on an average daily volume of 379,006 shares, the short-interest ratio is presently 11.7 days. Approximately 4.9% of the company’s stock are short sold.
CBSH has been the subject of a number of recent research reports. Analysts at Barclays raised their price target on shares of Commerce Bancshares from $47.00 to $53.00 in a research note on Wednesday. They now have an “overweight” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Commerce Bancshares in a research note on Friday, May 30th. They now have a $46.00 price target on the stock. Finally, analysts at Drexel Hamilton initiated coverage on shares of Commerce Bancshares in a research note on Thursday, May 8th. They set a “buy” rating on the stock.
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).