Commerce Bancshares (NASDAQ:CBSH) Stock Rating Lowered by Wall Street Zen

Commerce Bancshares (NASDAQ:CBSH) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Monday.

CBSH has been the topic of a number of other reports. Keefe, Bruyette & Woods lifted their price objective on Commerce Bancshares from $56.00 to $57.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Stephens set a $64.00 target price on Commerce Bancshares and gave the company an “equal weight” rating in a report on Friday. Morgan Stanley reaffirmed a “positive” rating and issued a $65.00 price target (up from $61.00) on shares of Commerce Bancshares in a research note on Monday, June 29th. Weiss Ratings upgraded shares of Commerce Bancshares from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 8th. Finally, Hovde Group cut their price target on shares of Commerce Bancshares from $63.00 to $60.00 and set an “outperform” rating on the stock 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $62.43.

Commerce Bancshares Stock Performance

Commerce Bancshares stock opened at $58.37 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.01. The firm has a market cap of $8.51 billion, a P/E ratio of 14.13, a P/E/G ratio of 2.11 and a beta of 0.58. Commerce Bancshares has a 1-year low of $46.99 and a 1-year high of $61.68. The firm has a 50-day moving average of $55.13 and a 200-day moving average of $52.90.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Danske Bank A S bought a new stake in shares of Commerce Bancshares during the third quarter valued at approximately $25,000. Geneos Wealth Management Inc. raised its holdings in Commerce Bancshares by 85.4% in the first quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 216 shares in the last quarter. Daytona Street Capital LLC purchased a new position in Commerce Bancshares during the fourth quarter valued at $25,000. Root Financial Partners LLC lifted its position in Commerce Bancshares by 104.9% during the first quarter. Root Financial Partners LLC now owns 623 shares of the financial services provider’s stock valued at $31,000 after buying an additional 319 shares during the period. Finally, Laurel Wealth Advisors LLC bought a new stake in shares of Commerce Bancshares during the 4th quarter valued at $34,000. Institutional investors own 70.26% of the company’s stock.

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.