Commerce Bancshares (CBSH) Given “Sell” Rating at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their sell rating on shares of Commerce Bancshares (NASDAQ:CBSH) in a research report sent to investors on Friday morning. The firm currently has a $54.00 target price on the financial services provider’s stock.

Several other equities analysts have also recently commented on CBSH. Piper Jaffray Companies reiterated a neutral rating and set a $60.00 target price on shares of Commerce Bancshares in a research note on Friday, October 6th. Zacks Investment Research upgraded shares of Commerce Bancshares from a hold rating to a buy rating and set a $65.00 target price for the company in a research note on Friday, October 6th. BidaskClub cut shares of Commerce Bancshares from a sell rating to a strong sell rating in a research note on Saturday, December 16th. Finally, Barclays restated a hold rating and issued a $55.00 price objective on shares of Commerce Bancshares in a research note on Sunday, December 24th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $56.63.

Commerce Bancshares (NASDAQ:CBSH) traded up $1.28 during trading hours on Friday, reaching $59.71. 642,588 shares of the company traded hands, compared to its average volume of 471,604. The firm has a market cap of $6,510.00, a PE ratio of 20.66, a P/E/G ratio of 2.30 and a beta of 0.80. Commerce Bancshares has a 1 year low of $49.43 and a 1 year high of $59.72.

In other news, Vice Chairman Jonathan M. Kemper sold 55,000 shares of the stock in a transaction on Monday, December 11th. The shares were sold at an average price of $55.06, for a total value of $3,028,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider V Raymond Stranghoener sold 6,399 shares of the stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $58.40, for a total transaction of $373,701.60. Following the completion of the transaction, the insider now owns 47,112 shares of the company’s stock, valued at approximately $2,751,340.80. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of CBSH. Riverhead Capital Management LLC grew its holdings in shares of Commerce Bancshares by 31.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 7,841 shares of the financial services provider’s stock worth $446,000 after purchasing an additional 1,866 shares during the last quarter. TIAA CREF Investment Management LLC grew its holdings in shares of Commerce Bancshares by 4.5% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 240,340 shares of the financial services provider’s stock worth $13,659,000 after purchasing an additional 10,298 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Commerce Bancshares by 5.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 275,588 shares of the financial services provider’s stock worth $15,664,000 after purchasing an additional 13,361 shares during the last quarter. Nationwide Fund Advisors grew its holdings in shares of Commerce Bancshares by 4.0% in the 2nd quarter. Nationwide Fund Advisors now owns 211,559 shares of the financial services provider’s stock worth $12,023,000 after purchasing an additional 8,182 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in shares of Commerce Bancshares by 1.1% in the 2nd quarter. BlackRock Inc. now owns 7,591,937 shares of the financial services provider’s stock worth $431,451,000 after purchasing an additional 82,095 shares during the last quarter. 59.15% of the stock is currently owned by institutional investors and hedge funds.

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Commerce Bancshares Company Profile

Commerce Bancshares, Inc is a bank holding company of Commerce Bank (the Bank). The Bank is engaged in general banking business, providing a range of retail, mortgage banking, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.

Analyst Recommendations for Commerce Bancshares (NASDAQ:CBSH)

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