Commerce Bancshares (CBSH) Given Hold Rating at Barclays

Commerce Bancshares (NASDAQ:CBSH)‘s stock had its “hold” rating reaffirmed by equities researchers at Barclays in a note issued to investors on Sunday. They presently have a $63.00 price target on the financial services provider’s stock. Barclays’ price objective would suggest a potential upside of 5.51% from the company’s current price.

A number of other research firms have also recently weighed in on CBSH. Keefe, Bruyette & Woods reaffirmed a “sell” rating and issued a $54.00 price target on shares of Commerce Bancshares in a report on Friday. Zacks Investment Research cut Commerce Bancshares from a “buy” rating to a “hold” rating in a report on Monday, October 9th. Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $60.00 price target on shares of Commerce Bancshares in a report on Friday, October 6th. Finally, BidaskClub raised Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $57.13.

Commerce Bancshares (NASDAQ CBSH) traded up $1.28 during midday trading on Friday, reaching $59.71. The company had a trading volume of 642,588 shares, compared to its average volume of 484,426. The firm has a market cap of $6,370.00, a PE ratio of 20.66, a price-to-earnings-growth ratio of 2.35 and a beta of 0.80. Commerce Bancshares has a 12 month low of $49.43 and a 12 month high of $59.72.

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

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position 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 purchasing an additional 246,065 shares in the last quarter. Commerce Bank grew its position in shares of Commerce Bancshares by 2.8% in the fourth quarter. Commerce Bank now owns 8,288,567 shares of the financial services provider’s stock valued at $352,595,000 after purchasing an additional 224,768 shares in the last quarter. BlackRock Inc. grew its position 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 purchasing an additional 82,095 shares in the last quarter. State Street Corp grew its position in shares of Commerce Bancshares by 3.9% in the fourth quarter. State Street Corp now owns 6,095,893 shares of the financial services provider’s stock valued at $352,407,000 after purchasing an additional 229,173 shares in the last quarter. Finally, BlackRock Fund Advisors grew its position in shares of Commerce Bancshares by 4.3% in the third quarter. BlackRock Fund Advisors now owns 3,149,247 shares of the financial services provider’s stock valued at $155,132,000 after purchasing an additional 130,170 shares in the last quarter. 59.15% of the stock is owned by institutional investors and hedge funds.

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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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