Commerce Bancshares (NASDAQ:CBSH) Price Target Increased to $54.00 by Analysts at Piper Sandler

Commerce Bancshares (NASDAQ:CBSH) had its price objective upped by Piper Sandler from $53.00 to $54.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s target price suggests a potential upside of 1.85% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on CBSH. Morgan Stanley lifted their price objective on shares of Commerce Bancshares from $46.00 to $55.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Raymond James raised shares of Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 price target for the company in a research note on Wednesday. Bank of America assumed coverage on shares of Commerce Bancshares in a research note on Thursday, January 11th. They set a “neutral” rating and a $55.00 price objective on the stock. Finally, Keefe, Bruyette & Woods increased their price target on Commerce Bancshares from $56.00 to $58.00 and gave the company a “market perform” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Commerce Bancshares has a consensus rating of “Hold” and a consensus price target of $55.00.

Commerce Bancshares Trading Up 1.9 %

NASDAQ:CBSH traded up $1.01 on Wednesday, reaching $53.02. The stock had a trading volume of 544,334 shares, compared to its average volume of 485,062. Commerce Bancshares has a 12-month low of $40.91 and a 12-month high of $56.75. The company has a 50-day moving average of $51.92 and a 200 day moving average of $50.90. The stock has a market cap of $6.89 billion, a P/E ratio of 14.61 and a beta of 0.79.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.06. The firm had revenue of $397.80 million for the quarter, compared to analysts’ expectations of $389.49 million. Commerce Bancshares had a return on equity of 17.46% and a net margin of 24.41%. Commerce Bancshares’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.90 earnings per share. On average, equities analysts predict that Commerce Bancshares will post 3.24 EPS for the current year.

Insider Activity at Commerce Bancshares

In other news, EVP John K. Handy sold 1,508 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $54.79, for a total transaction of $82,623.32. Following the sale, the executive vice president now directly owns 46,524 shares in the company, valued at $2,549,049.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Patricia R. Kellerhals sold 730 shares of the stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $54.87, for a total value of $40,055.10. Following the completion of the transaction, the senior vice president now owns 25,502 shares of the company’s stock, valued at $1,399,294.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John K. Handy sold 1,508 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $54.79, for a total transaction of $82,623.32. Following the transaction, the executive vice president now owns 46,524 shares of the company’s stock, valued at approximately $2,549,049.96. The disclosure for this sale can be found here. Insiders have sold 14,321 shares of company stock worth $752,387 over the last three months. Company insiders own 3.10% of the company’s stock.

Institutional Trading of Commerce Bancshares

Several institutional investors have recently bought and sold shares of the stock. BKM Wealth Management LLC acquired a new position in Commerce Bancshares during the fourth quarter worth $29,000. Creative Financial Designs Inc. ADV bought a new position in Commerce Bancshares during the 4th quarter valued at about $35,000. PCA Investment Advisory Services Inc. acquired a new position in Commerce Bancshares in the second quarter valued at about $38,000. Quantbot Technologies LP bought a new stake in Commerce Bancshares during the 2nd quarter worth approximately $42,000. Finally, Clarity Asset Management Inc. acquired a new stake in shares of Commerce Bancshares in the fourth quarter valued at $43,000. Institutional investors and hedge funds 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.