Commerce Bancshares (NASDAQ:CBSH) PT Raised to $62.00

Commerce Bancshares (NASDAQ:CBSH) had its price target raised by equities researchers at Jefferies Financial Group from $60.00 to $62.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 11.77% from the company’s current price.

A number of other equities analysts have also commented on the stock. Piper Sandler raised their price objective on shares of Commerce Bancshares from $53.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. StockNews.com raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. Keefe, Bruyette & Woods lifted their target price on shares of Commerce Bancshares from $58.00 to $60.00 and gave the company a “market perform” rating in a research note on Friday, May 10th. Finally, Raymond James raised shares of Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 target price for the company in a research note on Wednesday, April 17th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Commerce Bancshares currently has a consensus rating of “Hold” and an average price target of $56.71.

Commerce Bancshares Stock Performance

Commerce Bancshares stock opened at $55.47 on Wednesday. The firm’s 50 day moving average price is $55.11 and its two-hundred day moving average price is $53.52. Commerce Bancshares has a 1 year low of $40.91 and a 1 year high of $57.48. The firm has a market cap of $7.19 billion, a price-to-earnings ratio of 15.47, a price-to-earnings-growth ratio of 1.82 and a beta of 0.76.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. Commerce Bancshares had a net margin of 23.33% and a return on equity of 16.78%. The firm had revenue of $397.80 million during the quarter, compared to analyst estimates of $389.49 million. During the same quarter last year, the business posted $0.90 EPS. The company’s revenue was up 2.2% on a year-over-year basis. As a group, equities analysts predict that Commerce Bancshares will post 3.57 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO John W. Kemper sold 26,581 shares of Commerce Bancshares stock in a transaction on Friday, May 10th. The shares were sold at an average price of $56.77, for a total value of $1,509,003.37. Following the transaction, the chief executive officer now owns 198,387 shares in the company, valued at approximately $11,262,429.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CBSH. BKM Wealth Management LLC bought a new position in shares of Commerce Bancshares during the 4th quarter worth about $29,000. Creative Financial Designs Inc. ADV bought a new position in shares of Commerce Bancshares during the 4th quarter worth about $35,000. Clarity Asset Management Inc. bought a new position in shares of Commerce Bancshares during the 4th quarter worth about $43,000. Bessemer Group Inc. increased its holdings in shares of Commerce Bancshares by 86.3% during the 1st quarter. Bessemer Group Inc. now owns 842 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 390 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Commerce Bancshares by 156.5% during the 2nd quarter. GAMMA Investing LLC now owns 854 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 521 shares during the period. 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.