BidaskClub Lowers Commerce Bancshares (NASDAQ:CBSH) to Sell

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BidaskClub downgraded shares of Commerce Bancshares (NASDAQ:CBSH) from a hold rating to a sell rating in a report issued on Wednesday, BidAskClub reports.

Other equities research analysts have also issued reports about the company. Raymond James lowered First Midwest Bancorp to a hold rating in a research note on Monday, July 8th. DA Davidson dropped their price target on Commerce Bancshares to $60.00 and set a neutral rating for the company in a research note on Friday, April 12th. Zacks Investment Research upgraded Eutelsat Communications from a hold rating to a strong-buy rating and set a $21.00 price target for the company in a research note on Wednesday, June 12th. Finally, Stephens started coverage on Falcon Minerals in a research note on Thursday, April 11th. They set an overweight rating and a $12.00 price target for the company. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $59.24.

Shares of NASDAQ:CBSH opened at $58.34 on Wednesday. The firm has a market capitalization of $6.45 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 1.99 and a beta of 0.73. The stock’s 50-day moving average price is $58.82. Commerce Bancshares has a 12 month low of $53.40 and a 12 month high of $72.55.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.96 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.02. The company had revenue of $338.90 million during the quarter, compared to analyst estimates of $339.94 million. Commerce Bancshares had a return on equity of 15.02% and a net margin of 29.90%. The firm’s revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.96 earnings per share. On average, research analysts forecast that Commerce Bancshares will post 3.66 EPS for the current fiscal year.

In other news, insider John K. Handy sold 3,541 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $61.79, for a total value of $218,798.39. Following the completion of the sale, the insider now owns 35,251 shares of the company’s stock, valued at $2,178,159.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.60% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of CBSH. LPL Financial LLC lifted its holdings in Commerce Bancshares by 4.3% during the fourth quarter. LPL Financial LLC now owns 14,158 shares of the financial services provider’s stock valued at $798,000 after purchasing an additional 586 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in Commerce Bancshares by 1.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 12,503 shares of the financial services provider’s stock valued at $704,000 after purchasing an additional 169 shares in the last quarter. Advisor Group Inc. lifted its holdings in Commerce Bancshares by 12.8% during the fourth quarter. Advisor Group Inc. now owns 5,644 shares of the financial services provider’s stock valued at $318,000 after purchasing an additional 640 shares in the last quarter. Northern Trust Corp lifted its holdings in Commerce Bancshares by 6.9% during the fourth quarter. Northern Trust Corp now owns 830,027 shares of the financial services provider’s stock valued at $46,789,000 after purchasing an additional 53,619 shares in the last quarter. Finally, Bessemer Group Inc. purchased a new position in Commerce Bancshares during the fourth quarter valued at approximately $249,000. 63.08% of the stock is owned by institutional investors.

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. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online banking services.

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Analyst Recommendations for Commerce Bancshares (NASDAQ:CBSH)

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