Commerce Bancshares (NASDAQ:CBSH) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

Other research analysts also recently issued research reports about the company. Piper Jaffray Companies reissued a “hold” rating and issued a $58.00 price target on shares of Commerce Bancshares in a research note on Tuesday. Zacks Investment Research downgraded Commerce Bancshares from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. Barclays increased their price target on Commerce Bancshares from $55.00 to $59.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods restated a “sell” rating and issued a $51.00 price objective on shares of Commerce Bancshares in a research report on Friday, September 15th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. Commerce Bancshares currently has a consensus rating of “Hold” and an average price target of $56.25.

Commerce Bancshares (CBSH) traded up $0.71 during mid-day trading on Thursday, hitting $58.06. The stock had a trading volume of 382,888 shares, compared to its average volume of 424,386. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a market cap of $6,120.00, a P/E ratio of 21.66, a P/E/G ratio of 3.05 and a beta of 0.80. Commerce Bancshares has a one year low of $51.90 and a one year high of $60.61.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Thursday, October 12th. The financial services provider reported $0.71 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.03). The company had revenue of $304.83 million during the quarter, compared to analyst estimates of $317.28 million. Commerce Bancshares had a net margin of 23.93% and a return on equity of 12.08%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the company earned $0.68 EPS. analysts predict that Commerce Bancshares will post 2.76 EPS for the current year.

In related news, Vice Chairman Jonathan M. Kemper sold 55,000 shares of the company’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $55.06, for a total value of $3,028,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider V Raymond Stranghoener sold 6,399 shares of the company’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $58.40, for a total transaction of $373,701.60. Following the completion of the sale, the insider now owns 47,112 shares of the company’s stock, valued at approximately $2,751,340.80. The disclosure for this sale can be found here. 4.30% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. M&T Bank Corp increased its holdings in Commerce Bancshares by 1.0% during the 2nd quarter. M&T Bank Corp now owns 6,179 shares of the financial services provider’s stock worth $351,000 after purchasing an additional 62 shares in the last quarter. Advisor Group Inc. increased its holdings in Commerce Bancshares by 2.4% during the 2nd quarter. Advisor Group Inc. now owns 5,023 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 120 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Commerce Bancshares by 8.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,339 shares of the financial services provider’s stock worth $190,000 after purchasing an additional 264 shares in the last quarter. Citizens Financial Group Inc RI increased its holdings in Commerce Bancshares by 25.5% during the 2nd quarter. Citizens Financial Group Inc RI now owns 2,650 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 539 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in Commerce Bancshares by 3.7% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 16,605 shares of the financial services provider’s stock worth $944,000 after purchasing an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 59.14% of the company’s stock.

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About Commerce Bancshares

Commerce Bancshares, Inc is a bank holding company of Commerce Bank (the Bank). The Bank is engaged in general banking business, providing a range of retail, mortgage banking, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.

Analyst Recommendations for Commerce Bancshares (NASDAQ:CBSH)

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