Commerce Bancshares, Inc. (NASDAQ:CBSH)‘s stock had its “underperform” rating reissued by Raymond James Financial, Inc. in a research note issued on Thursday.

A number of other equities analysts also recently weighed in on CBSH. UBS AG downgraded shares of Commerce Bancshares to an “underperform” rating in a research note on Thursday. Jefferies Group LLC reaffirmed a “hold” rating and set a $61.00 target price on shares of Commerce Bancshares in a research note on Sunday, June 11th. BidaskClub downgraded shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Keefe, Bruyette & Woods reaffirmed a “sell” rating and set a $46.00 target price on shares of Commerce Bancshares in a research note on Monday, June 12th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and set a $53.00 target price (up previously from $51.00) on shares of Commerce Bancshares in a research note on Friday, July 14th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $55.00.

Shares of Commerce Bancshares (NASDAQ CBSH) opened at 56.97 on Thursday. The firm’s 50-day moving average price is $57.40 and its 200-day moving average price is $56.49. The company has a market capitalization of $5.79 billion, a price-to-earnings ratio of 20.65 and a beta of 0.81. Commerce Bancshares has a one year low of $45.37 and a one year high of $60.61.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, July 13th. The financial services provider reported $0.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.05. Commerce Bancshares had a net margin of 23.79% and a return on equity of 12.01%. The business had revenue of $305.89 million during the quarter, compared to the consensus estimate of $309.44 million. During the same quarter last year, the firm earned $0.70 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. Analysts anticipate that Commerce Bancshares will post $2.94 earnings per share for the current year.

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In related news, insider Jeffery D. Aberdeen sold 687 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $59.09, for a total transaction of $40,594.83. Following the completion of the sale, the insider now owns 40,232 shares of the company’s stock, valued at $2,377,308.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman David W. Kemper sold 10,132 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $57.83, for a total transaction of $585,933.56. Following the sale, the chairman now directly owns 1,270,757 shares of the company’s stock, valued at approximately $73,487,877.31. The disclosure for this sale can be found here. Insiders have sold 48,099 shares of company stock valued at $2,643,431 in the last three months. 4.30% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the stock. Citizens Financial Group Inc. RI purchased a new stake in shares of Commerce Bancshares during the first quarter valued at $119,000. Mosaic Family Wealth LLC increased its stake in shares of Commerce Bancshares by 2.9% in the first quarter. Mosaic Family Wealth LLC now owns 3,116 shares of the financial services provider’s stock valued at $175,000 after buying an additional 89 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Commerce Bancshares by 8.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,339 shares of the financial services provider’s stock valued at $190,000 after buying an additional 264 shares during the period. WFG Advisors LP increased its stake in shares of Commerce Bancshares by 2.8% in the first quarter. WFG Advisors LP now owns 3,939 shares of the financial services provider’s stock valued at $221,000 after buying an additional 109 shares during the period. Finally, Parametrica Management Ltd purchased a new stake in shares of Commerce Bancshares during the first quarter valued at $233,000. 62.13% of the stock is owned by institutional investors.

Commerce Bancshares Company Profile

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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