Keefe, Bruyette & Woods Reiterates “Sell” Rating for Commerce Bancshares (CBSH)

Commerce Bancshares (NASDAQ:CBSH)‘s stock had its “sell” rating reissued by equities research analysts at Keefe, Bruyette & Woods in a note issued to investors on Friday. They currently have a $54.00 target price on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price suggests a potential downside of 9.56% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the stock. BidaskClub cut shares of Commerce Bancshares from a “sell” rating to a “strong sell” rating in a research report on Saturday, December 16th. Zacks Investment Research cut shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Barclays restated a “hold” rating and issued a $55.00 price target on shares of Commerce Bancshares in a research report on Sunday, December 24th. Finally, Piper Jaffray Companies restated a “neutral” rating and issued a $60.00 price target on shares of Commerce Bancshares in a research report on Friday, October 6th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $56.63.

Commerce Bancshares (NASDAQ:CBSH) traded up $1.28 during trading on Friday, hitting $59.71. 642,588 shares of the stock traded hands, compared to its average volume of 497,069. The company has a market capitalization of $6,350.00, a PE ratio of 20.66, a P/E/G ratio of 2.29 and a beta of 0.80. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.68 and a current ratio of 0.68. Commerce Bancshares has a 52-week low of $51.90 and a 52-week high of $60.61.

In other Commerce Bancshares news, Vice Chairman Jonathan M. Kemper sold 55,000 shares of the business’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $55.06, for a total transaction of $3,028,300.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider V Raymond Stranghoener sold 6,399 shares of the business’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $58.40, for a total transaction of $373,701.60. Following the transaction, the insider now owns 47,112 shares in the company, valued at approximately $2,751,340.80. The disclosure for this sale can be found here. Insiders own 4.30% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. M&T Bank Corp increased its position in Commerce Bancshares by 1.0% during the second quarter. M&T Bank Corp now owns 6,179 shares of the financial services provider’s stock valued at $351,000 after acquiring an additional 62 shares during the last quarter. Advisor Group Inc. increased its position in Commerce Bancshares by 2.4% during the second quarter. Advisor Group Inc. now owns 5,023 shares of the financial services provider’s stock valued at $250,000 after acquiring an additional 120 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its position in Commerce Bancshares by 3.7% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 16,605 shares of the financial services provider’s stock valued at $944,000 after acquiring an additional 600 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Commerce Bancshares by 0.6% during the second quarter. PNC Financial Services Group Inc. now owns 123,834 shares of the financial services provider’s stock valued at $7,036,000 after acquiring an additional 775 shares during the last quarter. Finally, Bank of Montreal Can increased its position in Commerce Bancshares by 2.5% during the fourth quarter. Bank of Montreal Can now owns 35,974 shares of the financial services provider’s stock valued at $2,009,000 after acquiring an additional 866 shares during the last quarter. Institutional investors and hedge funds own 59.15% of the company’s stock.

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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.

Analyst Recommendations for Commerce Bancshares (NASDAQ:CBSH)

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