Commerce Bancshares (NASDAQ:CBSH) Stock Price Expected to Rise, Piper Sandler Analyst Says

Commerce Bancshares (NASDAQ:CBSH) had its price objective raised by equities research analysts at Piper Sandler from $69.00 to $72.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price objective would suggest a potential upside of 9.09% from the company’s current price.

A number of other research firms have also issued reports on CBSH. Keefe, Bruyette & Woods upped their price target on Commerce Bancshares from $66.00 to $78.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Raymond James lowered Commerce Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Morgan Stanley lowered shares of Commerce Bancshares from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $66.00 to $64.00 in a report on Monday, September 30th. Finally, Wells Fargo & Company boosted their target price on shares of Commerce Bancshares from $62.00 to $67.00 and gave the company an “equal weight” rating in a report on Tuesday, December 3rd. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $67.33.

Commerce Bancshares Stock Performance

Shares of CBSH stock opened at $66.00 on Thursday. Commerce Bancshares has a fifty-two week low of $47.09 and a fifty-two week high of $72.75. The firm has a market capitalization of $8.46 billion, a P/E ratio of 16.46, a PEG ratio of 3.64 and a beta of 0.79. The stock’s fifty day moving average is $66.55 and its two-hundred day moving average is $63.71.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. Commerce Bancshares had a net margin of 25.24% and a return on equity of 16.31%. The firm had revenue of $422.10 million for the quarter, compared to analyst estimates of $417,482 billion. During the same period in the previous year, the business posted $0.84 earnings per share. Commerce Bancshares’s quarterly revenue was up 7.3% on a year-over-year basis. On average, equities analysts forecast that Commerce Bancshares will post 3.73 earnings per share for the current year.

Insider Buying and Selling at Commerce Bancshares

In other news, Chairman David W. Kemper sold 4,500 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $69.22, for a total transaction of $311,490.00. Following the completion of the transaction, the chairman now directly owns 23,725 shares in the company, valued at $1,642,244.50. This trade represents a 15.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP David L. Roller sold 890 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $72.27, for a total value of $64,320.30. Following the completion of the sale, the senior vice president now owns 30,949 shares in the company, valued at $2,236,684.23. This represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,398 shares of company stock worth $651,265 over the last three months. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Commerce Bancshares

Several institutional investors have recently bought and sold shares of the company. Sound Stewardship LLC boosted its stake in shares of Commerce Bancshares by 3.9% in the third quarter. Sound Stewardship LLC now owns 4,339 shares of the financial services provider’s stock valued at $258,000 after purchasing an additional 163 shares during the period. Fifth Third Wealth Advisors LLC boosted its position in Commerce Bancshares by 4.9% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 3,908 shares of the financial services provider’s stock valued at $244,000 after buying an additional 183 shares during the period. Verde Capital Management grew its stake in shares of Commerce Bancshares by 5.4% in the fourth quarter. Verde Capital Management now owns 3,573 shares of the financial services provider’s stock worth $223,000 after acquiring an additional 183 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Commerce Bancshares by 19.6% during the fourth quarter. GAMMA Investing LLC now owns 1,139 shares of the financial services provider’s stock worth $71,000 after acquiring an additional 187 shares during the period. Finally, Wealthcare Advisory Partners LLC raised its stake in shares of Commerce Bancshares by 5.3% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 3,727 shares of the financial services provider’s stock valued at $232,000 after acquiring an additional 187 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

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.