Piper Sandler Issues Pessimistic Forecast for Commerce Bancshares (NASDAQ:CBSH) Stock Price

Commerce Bancshares (NASDAQ:CBSH) had its target price decreased by investment analysts at Piper Sandler from $66.00 to $63.00 in a report issued on Monday, MarketBeat reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s target price indicates a potential upside of 15.01% from the stock’s current price.

Several other research firms have also weighed in on CBSH. Wall Street Zen lowered shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday. Keefe, Bruyette & Woods increased their price objective on Commerce Bancshares from $60.00 to $62.00 and gave the stock a “market perform” rating in a report on Monday, July 20th. TD Cowen reaffirmed a “hold” rating and issued a $63.00 price objective (up from $62.00) on shares of Commerce Bancshares in a report on Friday, July 17th. Wells Fargo & Company set a $61.00 price target on Commerce Bancshares and gave the company an “equal weight” rating in a research note on Tuesday, September 29th. Finally, Morgan Stanley upped their price objective on shares of Commerce Bancshares from $76.00 to $77.00 and gave the company an “overweight” rating in a report on Monday, September 28th. Three analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $64.29.

Commerce Bancshares Stock Down 0.7%

CBSH stock opened at $54.78 on Monday. Commerce Bancshares has a 52 week low of $46.99 and a 52 week high of $60.92. The stock has a market capitalization of $7.86 billion, a P/E ratio of 13.26, a P/E/G ratio of 1.97 and a beta of 0.60. The firm has a 50-day simple moving average of $57.93 and a 200-day simple moving average of $55.01. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.01.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $1.04 by $0.06. The company had revenue of $498.91 million during the quarter, compared to analysts’ expectations of $492.22 million. Commerce Bancshares had a net margin of 26.07% and a return on equity of 14.31%. During the same quarter in the previous year, the business posted $1.14 EPS. Equities analysts forecast that Commerce Bancshares will post 4.23 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Douglas D. Neff sold 666 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $58.15, for a total transaction of $38,727.90. Following the completion of the transaction, the senior vice president directly owned 11,746 shares of the company’s stock, valued at approximately $683,029.90. This trade represents a 5.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John W. Kemper sold 5,830 shares of Commerce Bancshares stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $60.58, for a total transaction of $353,181.40. Following the sale, the chief executive officer directly owned 206,528 shares of the company’s stock, valued at $12,511,466.24. This represents a 2.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 32,950 shares of company stock worth $1,963,777 over the last quarter. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Commerce Bancshares

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE purchased a new stake in Commerce Bancshares in the 2nd quarter worth about $83,328,000. Two Sigma Securities LLC purchased a new position in shares of Commerce Bancshares during the 2nd quarter worth $1,016,000. Public Employees Retirement System of Ohio purchased a new stake in Commerce Bancshares in the 2nd quarter worth $2,311,000. Dimensional Fund Advisors LP lifted its holdings in shares of Commerce Bancshares by 29.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,943,247 shares of the financial services provider’s stock worth $193,999,000 after acquiring an additional 894,183 shares during the last quarter. Finally, Jupiter Topco LLC bought a new stake in shares of Commerce Bancshares in the second quarter valued at about $3,566,000. Institutional investors own 70.26% of the company’s stock.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc is a financial holding company headquartered in Kansas City, Missouri. Its principal subsidiary, Commerce Bank, provides banking and financial services to businesses, institutions and individuals through a network of branches and digital channels.

The company’s offerings include commercial and consumer lending, deposit accounts, treasury and payment services, credit and debit cards, investment services, brokerage, trust administration and wealth management. Commerce also provides specialized services for businesses, including cash management, merchant processing and other payment solutions.

Commerce Bank traces its history to 1865 and primarily serves customers in Missouri, Kansas, Illinois, Oklahoma and Colorado.