Keefe, Bruyette & Woods Has Lowered Expectations for Commerce Bancshares (NASDAQ:CBSH) Stock Price

Commerce Bancshares (NASDAQ:CBSH) had its price target lowered by Keefe, Bruyette & Woods from $74.00 to $70.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 16.63% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Morgan Stanley upgraded Commerce Bancshares from an “underweight” rating to an “equal weight” rating and lowered their target price for the stock from $66.00 to $58.00 in a research note on Monday, April 7th. StockNews.com cut shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday. Piper Sandler raised their price target on shares of Commerce Bancshares from $69.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Raymond James downgraded shares of Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Finally, Wells Fargo & Company lowered their target price on shares of Commerce Bancshares from $70.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat.com, Commerce Bancshares presently has an average rating of “Hold” and an average price target of $63.83.

Commerce Bancshares Trading Up 2.2 %

CBSH opened at $60.02 on Thursday. The stock’s fifty day simple moving average is $61.81 and its 200 day simple moving average is $64.07. Commerce Bancshares has a 1-year low of $49.81 and a 1-year high of $72.75. The stock has a market cap of $8.05 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 2.13 and a beta of 0.71.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Wednesday, April 16th. The financial services provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.93 by $0.05. The business had revenue of $428.05 million during the quarter, compared to the consensus estimate of $417.85 million. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. Equities analysts forecast that Commerce Bancshares will post 3.94 earnings per share for the current year.

Insider Transactions at Commerce Bancshares

In other Commerce Bancshares news, CFO Charles G. Kim sold 13,493 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $67.76, for a total transaction of $914,285.68. Following the completion of the sale, the chief financial officer now directly owns 86,246 shares in the company, valued at $5,844,028.96. This represents a 13.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John W. Kemper sold 26,042 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $67.28, for a total value of $1,752,105.76. Following the completion of the sale, the chief executive officer now directly owns 211,929 shares in the company, valued at approximately $14,258,583.12. This represents a 10.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 78,434 shares of company stock valued at $5,248,272. Company insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Kapitalo Investimentos Ltda acquired a new position in Commerce Bancshares during the 4th quarter worth approximately $26,000. CoreFirst Bank & Trust bought a new stake in shares of Commerce Bancshares during the fourth quarter worth $33,000. Marshall Investment Management LLC acquired a new position in shares of Commerce Bancshares during the fourth quarter worth $35,000. V Square Quantitative Management LLC lifted its stake in shares of Commerce Bancshares by 84.0% in the 4th quarter. V Square Quantitative Management LLC now owns 791 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 361 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in shares of Commerce Bancshares by 46.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 839 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 268 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc operates as the bank holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses in the United States. It operates through three segments: Consumer, Commercial, and Wealth.