Commerce Bancshares, Inc. (NASDAQ:CBSH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

According to Zacks, “Commerce Bancshares’ shares have outperformed the industry in the last three months. The company's efforts to expand its footprint in newer markets, an improving rate scenario and expectation of lesser regulations are expected to boost revenues further. Also, strong loan and deposit balance should support its profitability. Given a solid liquidity position, the company should be able to continue with its steady capital deployment activities. However, rising expenses mainly due to increase in personnel costs and investments in franchise remain a major headwind. Further, a significant exposure to real estate loans remains a near-term concern for the company.”

CBSH has been the topic of several other research reports. Barclays PLC set a $58.00 price objective on shares of Commerce Bancshares and gave the stock a “hold” rating in a research note on Sunday, July 16th. BidaskClub raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. UBS AG cut shares of Commerce Bancshares to an “underperform” rating in a research note on Thursday, August 10th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $61.00 price objective on shares of Commerce Bancshares in a research note on Friday, July 14th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and issued a $53.00 price objective (up previously from $51.00) on shares of Commerce Bancshares in a research note on Friday, July 14th. Five equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $55.00.

Shares of Commerce Bancshares (CBSH) traded down 3.10% during mid-day trading on Thursday, hitting $54.46. 307,845 shares of the company’s stock traded hands. Commerce Bancshares has a 1-year low of $45.37 and a 1-year high of $60.61. The stock has a 50 day moving average price of $57.32 and a 200-day moving average price of $56.46. The stock has a market cap of $5.53 billion, a P/E ratio of 19.73 and a beta of 0.81.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Thursday, July 13th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.05. The company had revenue of $305.89 million for the quarter, compared to analysts’ expectations of $309.44 million. Commerce Bancshares had a net margin of 23.79% and a return on equity of 12.01%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 EPS. Equities research analysts anticipate that Commerce Bancshares will post $2.94 EPS for the current fiscal year.

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In other Commerce Bancshares news, Chairman David W. Kemper sold 10,132 shares of the firm’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $57.83, for a total value of $585,933.56. Following the completion of the transaction, the chairman now directly owns 1,270,757 shares in the company, valued at $73,487,877.31. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Vice Chairman Jonathan M. Kemper sold 36,979 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $54.10, for a total transaction of $2,000,563.90. Following the completion of the transaction, the insider now owns 1,045,605 shares of the company’s stock, valued at $56,567,230.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,099 shares of company stock valued at $2,643,431. Corporate insiders own 4.30% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in CBSH. Captrust Financial Advisors purchased a new position in shares of Commerce Bancshares during the second quarter valued at approximately $106,000. Citizens Financial Group Inc. RI bought a new stake in Commerce Bancshares during the first quarter valued at approximately $119,000. Citizens Financial Group Inc RI boosted its stake in Commerce Bancshares by 25.5% in the second quarter. Citizens Financial Group Inc RI now owns 2,650 shares of the financial services provider’s stock valued at $151,000 after buying an additional 539 shares in the last quarter. Mosaic Family Wealth LLC boosted its stake in Commerce Bancshares by 2.9% in the first quarter. Mosaic Family Wealth LLC now owns 3,116 shares of the financial services provider’s stock valued at $175,000 after buying an additional 89 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Commerce Bancshares by 8.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,339 shares of the financial services provider’s stock valued at $190,000 after buying an additional 264 shares in the last quarter. Institutional investors own 61.42% of the company’s stock.

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, mortgage banking, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.

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Analyst Recommendations for Commerce Bancshares (NASDAQ:CBSH)

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