Commerce Bancshares (NASDAQ:CBSH) Stock Rating Lowered by Zacks Research

Commerce Bancshares (NASDAQ:CBSH) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Thursday,Zacks.com reports.

Several other analysts have also weighed in on the company. Cowen reissued a “hold” rating on shares of Commerce Bancshares in a report on Tuesday, October 21st. Keefe, Bruyette & Woods decreased their price objective on shares of Commerce Bancshares from $61.90 to $57.14 and set a “market perform” rating on the stock in a research report on Friday, October 17th. TD Cowen dropped their target price on shares of Commerce Bancshares from $61.00 to $55.00 and set a “hold” rating for the company in a report on Wednesday. Hovde Group assumed coverage on shares of Commerce Bancshares in a research report on Monday, October 6th. They set an “outperform” rating and a $66.67 target price for the company. Finally, Wall Street Zen downgraded shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $62.03.

Commerce Bancshares Trading Down 2.1%

Shares of CBSH opened at $53.85 on Thursday. Commerce Bancshares has a twelve month low of $48.69 and a twelve month high of $65.59. The firm has a market capitalization of $7.13 billion, a P/E ratio of 12.85, a PEG ratio of 3.31 and a beta of 0.62. The firm’s 50-day moving average is $52.11 and its two-hundred day moving average is $55.57.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.06 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.03). The firm had revenue of $448.85 million for the quarter, compared to analysts’ expectations of $447.04 million. Commerce Bancshares had a return on equity of 15.73% and a net margin of 26.48%.Commerce Bancshares’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $1.02 EPS. Analysts predict that Commerce Bancshares will post 3.94 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CBSH. Danske Bank A S acquired a new position in shares of Commerce Bancshares during the 3rd quarter valued at $25,000. Geneos Wealth Management Inc. boosted its position in Commerce Bancshares by 85.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock valued at $29,000 after buying an additional 216 shares during the last quarter. Quent Capital LLC purchased a new stake in shares of Commerce Bancshares during the third quarter worth about $31,000. CoreFirst Bank & Trust purchased a new stake in shares of Commerce Bancshares during the second quarter worth about $33,000. Finally, Rothschild Investment LLC lifted its stake in shares of Commerce Bancshares by 3,820.0% in the third quarter. Rothschild Investment LLC now owns 588 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 573 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

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.