Commerce Bancshares (NASDAQ:CBSH) Upgraded to Hold at Stephens

Commerce Bancshares (NASDAQ:CBSH) was upgraded by stock analysts at Stephens to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

CBSH has been the topic of a number of other reports. Wall Street Zen raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Sunday. Piper Sandler increased their price objective on Commerce Bancshares from $58.50 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. Keefe, Bruyette & Woods raised their price objective on Commerce Bancshares from $56.00 to $57.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Weiss Ratings raised Commerce Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 8th. Finally, Hovde Group lowered their target price on Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, April 22nd. Two analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $59.14.

Commerce Bancshares Trading Up 0.4%

NASDAQ CBSH opened at $58.16 on Tuesday. The company’s 50-day moving average price is $54.55 and its 200-day moving average price is $52.72. The stock has a market cap of $8.48 billion, a PE ratio of 13.95, a PEG ratio of 2.97 and a beta of 0.58. Commerce Bancshares has a 12 month low of $46.99 and a 12 month high of $62.42.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.02. The company had revenue of $475.69 million during the quarter, compared to analyst estimates of $481.94 million. Commerce Bancshares had a net margin of 26.37% and a return on equity of 14.78%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $0.98 EPS. As a group, sell-side analysts forecast that Commerce Bancshares will post 4.15 earnings per share for the current year.

Hedge Funds Weigh In On Commerce Bancshares

Institutional investors have recently bought and sold shares of the business. Daytona Street Capital LLC purchased a new stake in Commerce Bancshares during the fourth quarter worth $25,000. Danske Bank A S purchased a new position in shares of Commerce Bancshares in the 3rd quarter valued at $25,000. Geneos Wealth Management Inc. raised its position in shares of 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 acquiring an additional 216 shares in the last quarter. Root Financial Partners LLC raised its position in shares of 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 acquiring an additional 319 shares in the last quarter. Finally, Laurel Wealth Advisors LLC purchased a new stake in shares of Commerce Bancshares during the 4th quarter worth $34,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Commerce Bancshares Company Profile

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.