Commerce Bancshares Inc. (NASDAQ:CBSH) was downgraded by Morgan Stanley from an “equal weight” rating to an “underweight” rating in a report issued on Tuesday.

Other equities research analysts have also issued research reports about the company. Zacks Investment Research lowered Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Monday. Piper Jaffray Cos. assumed coverage on Commerce Bancshares in a research report on Monday, July 11th. They issued a “neutral” rating and a $43.50 price target on the stock. Finally, Jefferies Group reiterated a “hold” rating and issued a $48.00 price target on shares of Commerce Bancshares in a research report on Thursday, July 7th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $45.08.

Analyst Recommendations for Commerce Bancshares (NASDAQ:CBSH)

Commerce Bancshares (NASDAQ:CBSH) traded down 0.79% on Tuesday, hitting $48.67. The company had a trading volume of 528,567 shares. Commerce Bancshares has a one year low of $37.44 and a one year high of $51.30. The company has a market capitalization of $4.70 billion, a P/E ratio of 18.65 and a beta of 0.81. The stock’s 50-day moving average price is $49.08 and its 200 day moving average price is $47.32.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/morgan-stanley-downgrades-commerce-bancshares-inc-cbsh-to-underweight.html

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Wednesday, July 13th. The financial services provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Commerce Bancshares had a return on equity of 11.58% and a net margin of 23.03%. The firm had revenue of $288.40 million for the quarter, compared to analyst estimates of $295.65 million. During the same quarter in the previous year, the company posted $0.71 EPS. The business’s revenue was up 3.9% on a year-over-year basis. On average, analysts expect that Commerce Bancshares will post $2.77 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 26th. Stockholders of record on Friday, September 9th will be paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Wednesday, September 7th. Commerce Bancshares’s dividend payout ratio is 34.50%.

In other news, CEO David W. Kemper sold 40,000 shares of the business’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $48.86, for a total value of $1,954,400.00. Following the transaction, the chief executive officer now directly owns 1,316,068 shares of the company’s stock, valued at approximately $64,303,082.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider V Raymond Stranghoener sold 4,964 shares of the business’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $48.49, for a total value of $240,704.36. Following the completion of the transaction, the insider now directly owns 80,869 shares in the company, valued at $3,921,337.81. The disclosure for this sale can be found here. 4.60% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Walleye Trading LLC purchased a new position in Commerce Bancshares during the second quarter worth $101,000. Pacad Investment Ltd. purchased a new position in Commerce Bancshares during the second quarter worth $120,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Commerce Bancshares by 28.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,547 shares of the financial services provider’s stock worth $122,000 after buying an additional 566 shares during the period. WFG Advisors LP increased its position in Commerce Bancshares by 0.5% in the second quarter. WFG Advisors LP now owns 3,725 shares of the financial services provider’s stock worth $178,000 after buying an additional 20 shares during the period. Finally, Advisor Group Inc. purchased a new position in Commerce Bancshares during the second quarter worth $183,000. 60.87% of the stock is currently owned by institutional investors.

About Commerce Bancshares

Commerce Bancshares, Inc is a bank holding company of Commerce Bank (the Bank). The Bank is engaged in general banking business, providing a range of retail, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.

5 Day Chart for NASDAQ:CBSH

Receive News & Ratings for Commerce Bancshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commerce Bancshares Inc. and related companies with MarketBeat.com's FREE daily email newsletter.