Morgan Stanley Boosts Commerce Bancshares (NASDAQ:CBSH) Price Target to $54.00

Commerce Bancshares (NASDAQ:CBSH) had its price target upped by research analysts at Morgan Stanley from $52.38 to $54.00 in a research note issued on Wednesday, BenzingaRatingsTable reports. The brokerage presently has an “underweight” rating on the financial services provider’s stock. Morgan Stanley’s price target would indicate a potential downside of 14.27% from the stock’s current price.

Several other research firms have also recently commented on CBSH. BidaskClub cut Commerce Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday. Stephens reaffirmed a “hold” rating and set a $59.00 target price on shares of Commerce Bancshares in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $58.41.

Shares of NASDAQ:CBSH opened at $62.99 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.09. The company’s 50-day moving average price is $65.11 and its 200 day moving average price is $60.38. The company has a market cap of $7.19 billion, a PE ratio of 17.50, a P/E/G ratio of 6.00 and a beta of 0.77. Commerce Bancshares has a fifty-two week low of $53.40 and a fifty-two week high of $67.84.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.92 by $0.06. The company had revenue of $336.30 million for the quarter, compared to analyst estimates of $337.31 million. Commerce Bancshares had a net margin of 29.34% and a return on equity of 14.52%. Commerce Bancshares’s revenue was down .8% compared to the same quarter last year. During the same quarter last year, the business earned $1.03 earnings per share. As a group, equities analysts anticipate that Commerce Bancshares will post 3.54 EPS for the current year.

In other Commerce Bancshares news, EVP John K. Handy sold 1,646 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $67.37, for a total value of $110,891.02. Following the completion of the sale, the executive vice president now directly owns 32,907 shares in the company, valued at $2,216,944.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jeffrey M. Burik sold 3,200 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $60.96, for a total value of $195,072.00. Following the completion of the sale, the senior vice president now owns 17,120 shares of the company’s stock, valued at $1,043,635.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,462 shares of company stock worth $3,190,154. 3.60% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. BBVA USA Bancshares Inc. lifted its stake in Commerce Bancshares by 2.7% during the third quarter. BBVA USA Bancshares Inc. now owns 15,502 shares of the financial services provider’s stock valued at $940,000 after purchasing an additional 407 shares during the last quarter. Citadel Advisors LLC raised its position in shares of Commerce Bancshares by 21.3% during the second quarter. Citadel Advisors LLC now owns 10,588 shares of the financial services provider’s stock worth $632,000 after purchasing an additional 1,858 shares during the period. Reilly Financial Advisors LLC acquired a new stake in shares of Commerce Bancshares during the third quarter worth $316,000. First Trust Advisors LP lifted its holdings in shares of Commerce Bancshares by 10.9% during the third quarter. First Trust Advisors LP now owns 182,261 shares of the financial services provider’s stock valued at $11,054,000 after purchasing an additional 17,949 shares during the last quarter. Finally, Signition LP purchased a new stake in Commerce Bancshares during the third quarter valued at about $213,000. 69.10% of the stock is currently 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.

Featured Article: Why is the price-sales ratio important?

Analyst Recommendations for Commerce Bancshares (NASDAQ:CBSH)

Receive News & Ratings for Commerce Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commerce Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.