Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Commerce Bancshares (NASDAQ:CBSH) Stock

Commerce Bancshares (NASDAQ:CBSH) had its price objective upped by stock analysts at Keefe, Bruyette & Woods from $60.00 to $62.00 in a report issued on Monday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 6.22% from the company’s previous close.

CBSH has been the topic of several other research reports. Wells Fargo & Company upped their price target on Commerce Bancshares from $53.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Monday, July 6th. Hovde Group lowered their price objective on Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, April 22nd. Stephens set a $64.00 price objective on Commerce Bancshares and gave the company an “equal weight” rating in a research note on Friday. Piper Sandler reissued a “neutral” rating and issued a $66.00 target price (up from $59.00) on shares of Commerce Bancshares in a report on Friday. Finally, Wall Street Zen cut Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Monday. Two investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Commerce Bancshares has an average rating of “Hold” and an average price target of $62.43.

Commerce Bancshares Trading Down 0.7%

NASDAQ:CBSH opened at $58.37 on Monday. The firm has a market capitalization of $8.51 billion, a P/E ratio of 14.13, a PEG ratio of 2.11 and a beta of 0.58. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.82 and a quick ratio of 0.82. Commerce Bancshares has a one year low of $46.99 and a one year high of $61.68. The company’s 50-day simple moving average is $55.13 and its 200 day simple moving average is $52.90.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, July 16th. The financial services provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.06. Commerce Bancshares had a net margin of 26.07% and a return on equity of 14.31%. The business had revenue of $498.91 million during the quarter, compared to the consensus estimate of $492.22 million. During the same quarter last year, the firm earned $1.14 earnings per share. As a group, analysts forecast that Commerce Bancshares will post 4.22 EPS for the current fiscal year.

Institutional Trading of Commerce Bancshares

Institutional investors and hedge funds have recently modified their holdings of the business. Daytona Street Capital LLC bought a new position in shares of Commerce Bancshares during the fourth quarter valued at $25,000. Danske Bank A S bought a new stake in Commerce Bancshares in the 3rd quarter worth about $25,000. Geneos Wealth Management Inc. increased its holdings in Commerce Bancshares by 85.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after buying an additional 216 shares in the last quarter. Root Financial Partners LLC increased its holdings in Commerce Bancshares by 104.9% in the 1st quarter. Root Financial Partners LLC now owns 623 shares of the financial services provider’s stock worth $31,000 after buying an additional 319 shares in the last quarter. Finally, Laurel Wealth Advisors LLC purchased a new position in Commerce Bancshares in the 4th quarter worth about $34,000. Institutional investors own 70.26% of the company’s stock.

About Commerce Bancshares

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.