Morgan Stanley Issues Positive Forecast for Commerce Bancshares (NASDAQ:CBSH) Stock Price

by · The Markets Daily

Commerce Bancshares (NASDAQ:CBSH – Free Report) had its price objective upped by Morgan Stanley from $76.00 to $77.00 in a research report report published on Monday, MarketBeat reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other brokerages have also recently weighed in on CBSH. Keefe, Bruyette & Woods upped their price target on Commerce Bancshares from $60.00 to $62.00 and gave the company a “market perform” rating in a research report on Monday, July 20th. Weiss Ratings raised Commerce Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, September 16th. Wells Fargo & Company set a $63.00 target price on shares of Commerce Bancshares and gave the company an “equal weight” rating in a research note on Monday, August 10th. Wall Street Zen raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, July 28th. Finally, Piper Sandler reiterated a “neutral” rating and set a $66.00 target price (up from $59.00) on shares of Commerce Bancshares in a research report on Friday, July 17th. Three research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $65.00.

Read Our Latest Analysis on CBSH

Commerce Bancshares Stock Down 1.0%

Shares of CBSH opened at $55.88 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $58.41 and a two-hundred day moving average price of $54.70. The stock has a market cap of $8.01 billion, a price-to-earnings ratio of 13.53, a P/E/G ratio of 2.01 and a beta of 0.58. Commerce Bancshares has a 12 month low of $46.99 and a 12 month high of $60.92.

Commerce Bancshares (NASDAQ:CBSH – Get Free Report) last released its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.06. Commerce Bancshares had a return on equity of 14.31% and a net margin of 26.07%.The company had revenue of $498.91 million for the quarter, compared to analyst estimates of $492.22 million. During the same period in the prior year, the company posted $1.14 EPS. Equities analysts predict that Commerce Bancshares will post 4.25 EPS for the current fiscal year.

Commerce Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Friday, September 4th were paid a $0.2750 dividend. The ex-dividend date was Friday, September 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.0%. Commerce Bancshares’s dividend payout ratio (DPR) is 26.63%.

Insiders Place Their Bets

In other Commerce Bancshares news, EVP Robert S. Holmes sold 5,000 shares of the firm’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $60.20, for a total value of $301,000.00. Following the completion of the sale, the executive vice president owned 55,962 shares in the company, valued at approximately $3,368,912.40. This trade represents a 8.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Douglas D. Neff sold 666 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $58.15, for a total transaction of $38,727.90. Following the completion of the transaction, the senior vice president directly owned 11,746 shares of the company’s stock, valued at approximately $683,029.90. This represents a 5.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 32,950 shares of company stock valued at $1,963,777 over the last three months. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Commerce Bancshares

Several hedge funds have recently modified their holdings of CBSH. Keating Financial Advisory Services Inc. bought a new position in Commerce Bancshares in the 2nd quarter worth approximately $29,000. Root Financial Partners LLC lifted its holdings in Commerce Bancshares by 104.9% during 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. Rothschild Investment LLC boosted its position in Commerce Bancshares by 75.3% in the 4th quarter. Rothschild Investment LLC now owns 1,031 shares of the financial services provider’s stock valued at $54,000 after buying an additional 443 shares during the last quarter. Continuum Advisory LLC bought a new position in Commerce Bancshares in the 2nd quarter valued at $64,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Commerce Bancshares in the 2nd quarter valued at $93,000. 70.26% of the stock is owned by institutional investors.

About Commerce Bancshares

(Get Free Report)

Commerce Bancshares, Inc is a financial services holding company headquartered in Kansas City, Missouri. Through its principal subsidiary, Commerce Bank, the company provides banking and financial services to individuals, businesses, institutions and government entities.

Commerce Bank offers deposit accounts, consumer and commercial lending, treasury and payment services, wealth management, trust services, investment banking and brokerage services. Its commercial banking activities include financing, cash-management solutions and other services designed for businesses and institutional clients.

Founded in 1865, Commerce Bancshares primarily serves customers through a regional network centered in Missouri and extending into Kansas, Illinois, Oklahoma and Colorado.

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