Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH – Get Free Report) have earned an average recommendation of “Hold” from the nine brokerages that are covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $62.4286.
CBSH has been the topic of a number of research reports. Keefe, Bruyette & Woods upped their price objective on Commerce Bancshares from $60.00 to $62.00 and gave the company a “market perform” rating in a research note on Monday, July 20th. Piper Sandler reissued a “neutral” rating and set a $66.00 price objective (up from $59.00) on shares of Commerce Bancshares in a report on Friday, July 17th. Morgan Stanley reissued a “positive” rating and issued a $65.00 target price (up from $61.00) on shares of Commerce Bancshares in a research report on Monday, June 29th. Stephens set a $64.00 price target on Commerce Bancshares and gave the company an “equal weight” rating in a research report on Friday, July 17th. Finally, Weiss Ratings upgraded Commerce Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday.
View Our Latest Analysis on Commerce Bancshares
Commerce Bancshares Stock Up 0.8%
Commerce Bancshares (NASDAQ:CBSH – Get Free Report) last released its earnings results on Thursday, July 16th. The financial services provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.06. Commerce Bancshares had a net margin of 26.07% and a return on equity of 14.31%. The firm had revenue of $498.91 million during the quarter, compared to the consensus estimate of $492.22 million. During the same period in the prior year, the firm earned $1.14 EPS. As a group, equities analysts expect that Commerce Bancshares will post 4.22 earnings per share for the current year.
Hedge Funds Weigh In On Commerce Bancshares
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Danske Bank A S bought a new stake in shares of Commerce Bancshares in the third quarter valued at approximately $25,000. Geneos Wealth Management Inc. boosted its holdings 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 worth $29,000 after buying an additional 216 shares during the period. Daytona Street Capital LLC purchased a new position in Commerce Bancshares in the 4th quarter valued at approximately $25,000. Root Financial Partners LLC raised its holdings in Commerce Bancshares by 104.9% during the 1st quarter. Root Financial Partners LLC now owns 623 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 319 shares during the period. Finally, Laurel Wealth Advisors LLC purchased a new stake in shares of Commerce Bancshares during the fourth quarter worth $34,000. Institutional investors own 70.26% of the company’s stock.
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.
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