Commerce Bancshares (NASDAQ:CBSH) Price Target Lowered to $66.00 at Morgan Stanley

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) had its target price decreased by research analysts at Morgan Stanley from $72.00 to $66.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an "underweight" rating on the financial services provider's stock. Morgan Stanley's price objective indicates a potential upside of 10.71% from the company's current price.

Several other analysts also recently weighed in on CBSH. Piper Sandler upped their price target on Commerce Bancshares from $69.00 to $72.00 and gave the stock a "neutral" rating in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods increased their target price on Commerce Bancshares from $66.00 to $78.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. StockNews.com raised Commerce Bancshares from a "sell" rating to a "hold" rating in a research report on Monday, January 13th. Raymond James downgraded shares of Commerce Bancshares from an "outperform" rating to a "market perform" rating in a research report on Thursday, December 19th. Finally, Wells Fargo & Company lifted their target price on shares of Commerce Bancshares from $67.00 to $70.00 and gave the stock an "equal weight" rating in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat.com, Commerce Bancshares has a consensus rating of "Hold" and an average target price of $68.17.

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Commerce Bancshares Price Performance

CBSH stock traded down $0.07 during midday trading on Thursday, hitting $59.62. The stock had a trading volume of 100,835 shares, compared to its average volume of 538,108. The business has a 50-day moving average of $64.58 and a two-hundred day moving average of $64.53. The firm has a market cap of $7.98 billion, a price-to-earnings ratio of 14.86, a price-to-earnings-growth ratio of 2.13 and a beta of 0.78. Commerce Bancshares has a 52-week low of $47.89 and a 52-week high of $72.75.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last released its 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 the consensus estimate of $417.48 million. During the same period in the prior year, the firm earned $0.84 EPS. The company's revenue was up 7.3% compared to the same quarter last year. Research analysts predict that Commerce Bancshares will post 3.94 earnings per share for the current year.

Insider Activity at Commerce Bancshares

In other news, CEO John W. Kemper sold 26,042 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $67.28, for a total value of $1,752,105.76. Following the transaction, the chief executive officer now owns 211,929 shares in the company, valued at $14,258,583.12. This represents a 10.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP David L. Orf sold 1,036 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $68.24, for a total transaction of $70,696.64. Following the sale, the vice president now owns 22,175 shares of the company's stock, valued at $1,513,222. This trade represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 81,016 shares of company stock worth $5,422,811. 3.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Atria Wealth Solutions Inc. raised its stake in Commerce Bancshares by 1.5% during the 4th quarter. Atria Wealth Solutions Inc. now owns 11,062 shares of the financial services provider's stock worth $689,000 after acquiring an additional 166 shares during the period. Canopy Partners LLC boosted its holdings in Commerce Bancshares by 4.9% in the 4th quarter. Canopy Partners LLC now owns 3,609 shares of the financial services provider's stock worth $225,000 after buying an additional 168 shares during the period. Apriem Advisors increased its stake in Commerce Bancshares by 5.0% in the 4th quarter. Apriem Advisors now owns 3,827 shares of the financial services provider's stock worth $238,000 after buying an additional 182 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in Commerce Bancshares by 4.9% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 3,908 shares of the financial services provider's stock valued at $244,000 after acquiring an additional 183 shares during the period. Finally, Verde Capital Management lifted its position 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 valued at $223,000 after acquiring an additional 183 shares in the last quarter. Institutional investors own 70.26% of the company's stock.

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.

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