Commerce Bancshares, Inc. (NASDAQ:CBSH)‘s stock had its “sell” rating restated by equities researchers at Keefe, Bruyette & Woods in a research report issued on Friday. They currently have a $51.00 target price on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential downside of 7.56% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Commerce Bancshares from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research note on Monday, July 17th. Stephens reissued an “equal weight” rating and set a $56.00 price target (up from $52.00) on shares of Commerce Bancshares in a research note on Monday, July 17th. Barclays PLC reissued an “equal weight” rating and set a $54.00 price target (down from $55.00) on shares of Commerce Bancshares in a research note on Wednesday, July 12th. BidaskClub raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $61.00 price target on shares of Commerce Bancshares in a research note on Sunday, June 11th. Five research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $55.25.

Commerce Bancshares (NASDAQ:CBSH) traded up 0.84% on Friday, hitting $55.17. 1,068,133 shares of the stock traded hands. The stock has a 50-day moving average price of $55.53 and a 200 day moving average price of $56.01. The stock has a market cap of $5.61 billion, a P/E ratio of 19.99 and a beta of 0.82. Commerce Bancshares has a 12-month low of $47.64 and a 12-month high of $60.61.

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

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In other news, Director John R. Capps sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $54.82, for a total value of $548,200.00. Following the completion of the transaction, the director now owns 12,828 shares in the company, valued at $703,230.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman David W. Kemper sold 10,132 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $57.83, for a total transaction of $585,933.56. Following the completion of the transaction, the chairman now owns 1,270,757 shares of the company’s stock, valued at approximately $73,487,877.31. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,819 shares of company stock valued at $1,174,728. Corporate insiders own 4.30% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Commerce Bancshares by 2.9% in the second quarter. Vanguard Group Inc. now owns 8,599,122 shares of the financial services provider’s stock valued at $488,688,000 after buying an additional 246,065 shares during the period. BlackRock Inc. boosted its holdings in shares of Commerce Bancshares by 1.1% in the second quarter. BlackRock Inc. now owns 7,591,937 shares of the financial services provider’s stock valued at $431,451,000 after buying an additional 82,095 shares during the period. FMR LLC boosted its holdings in shares of Commerce Bancshares by 2.0% in the second quarter. FMR LLC now owns 2,029,867 shares of the financial services provider’s stock valued at $115,357,000 after buying an additional 40,600 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of Commerce Bancshares by 27.1% in the second quarter. Lazard Asset Management LLC now owns 1,448,515 shares of the financial services provider’s stock valued at $82,318,000 after buying an additional 308,460 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Commerce Bancshares by 5.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,288,663 shares of the financial services provider’s stock valued at $72,371,000 after buying an additional 61,106 shares during the period. Institutional investors own 62.20% of the company’s stock.

Commerce Bancshares Company Profile

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.

Analyst Recommendations for Commerce Bancshares (NASDAQ:CBSH)

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