Commerce Bancshares (NASDAQ:CBSH) Downgraded by StockNews.com to "Sell"

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) was downgraded by research analysts at StockNews.com from a "hold" rating to a "sell" rating in a note issued to investors on Thursday.

CBSH has been the topic of a number of other reports. Wells Fargo & Company cut their target price on Commerce Bancshares from $70.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Raymond James lowered shares of Commerce Bancshares from an "outperform" rating to a "market perform" rating in a report on Thursday, December 19th. Piper Sandler upped their target price on shares of Commerce Bancshares from $69.00 to $72.00 and gave the company a "neutral" rating in a research note on Thursday, January 23rd. Finally, Morgan Stanley raised shares of Commerce Bancshares from an "underweight" rating to an "equal weight" rating and reduced their price target for the stock from $66.00 to $58.00 in a research report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $63.20.

Commerce Bancshares Stock Down 0.2 %

Shares of CBSH stock traded down $0.12 on Thursday, reaching $59.90. 978,228 shares of the stock were exchanged, compared to its average volume of 587,925. Commerce Bancshares has a 1-year low of $49.97 and a 1-year high of $72.75. The stock has a market cap of $8.03 billion, a P/E ratio of 14.94, a price-to-earnings-growth ratio of 2.13 and a beta of 0.71. The firm has a 50 day moving average of $61.53 and a two-hundred day moving average of $64.14.

Commerce Bancshares (NASDAQ:CBSH - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.05. The company had revenue of $428.05 million for the quarter, compared to the consensus estimate of $417.85 million. Commerce Bancshares had a return on equity of 16.31% and a net margin of 25.24%. On average, equities research analysts predict that Commerce Bancshares will post 3.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other Commerce Bancshares news, EVP Kevin G. Barth sold 24,870 shares of the firm's stock in a transaction on Friday, January 24th. The stock was sold at an average price of $66.06, for a total value of $1,642,912.20. Following the sale, the executive vice president now directly owns 45,511 shares in the company, valued at approximately $3,006,456.66. This trade represents a 35.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Charles G. Kim sold 13,493 shares of the company's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $67.76, for a total transaction of $914,285.68. Following the transaction, the chief financial officer now owns 86,246 shares of the company's stock, valued at $5,844,028.96. This represents a 13.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 78,434 shares of company stock valued at $5,248,272 over the last quarter. Insiders own 3.10% of the company's stock.

Institutional Investors Weigh In On Commerce Bancshares

A number of hedge funds have recently made changes to their positions in the business. Cushing Capital Partners LLC acquired a new stake in Commerce Bancshares in the 1st quarter valued at approximately $937,000. CENTRAL TRUST Co increased its holdings in shares of Commerce Bancshares by 4.6% during the first quarter. CENTRAL TRUST Co now owns 55,018 shares of the financial services provider's stock valued at $3,424,000 after purchasing an additional 2,406 shares during the period. Missouri Trust & Investment Co raised its stake in shares of Commerce Bancshares by 5.8% during the first quarter. Missouri Trust & Investment Co now owns 4,708 shares of the financial services provider's stock valued at $293,000 after purchasing an additional 259 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Commerce Bancshares by 19.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 17,971 shares of the financial services provider's stock worth $1,118,000 after purchasing an additional 2,955 shares during the period. Finally, Marshall Financial Group LLC grew its position in Commerce Bancshares by 4.2% in the 1st quarter. Marshall Financial Group LLC now owns 20,020 shares of the financial services provider's stock valued at $1,246,000 after buying an additional 798 shares in the last quarter. Institutional investors own 70.26% of the company's stock.

About Commerce Bancshares

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.