The stock of Commerce Bancshares, Inc. (NASDAQ:CBSH) reached all time high today, Nov, 14 and still has $74.89 target or 31.00% above today’s $57.17 share price. This indicates more upside for the $5.65 billion company. This technical setup was reported by Barchart.com. If the $74.89 PT is reached, the company will be worth $1.75B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 381,673 shares traded hands. Commerce Bancshares, Inc. (NASDAQ:CBSH) has risen 24.95% since April 12, 2016 and is uptrending. It has outperformed by 19.97% the S&P500.
Commerce Bancshares, Inc. (NASDAQ:CBSH) Ratings Coverage
Out of 3 analysts covering Commerce Bancshares (NASDAQ:CBSH), 0 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 0 are positive. Commerce Bancshares has been the topic of 8 analyst reports since October 15, 2015 according to StockzIntelligence Inc. The rating was downgraded by Morgan Stanley on Tuesday, September 20 to “Underweight”. Jefferies maintained the shares of CBSH in a report on Thursday, October 15 with “Hold” rating. Piper Jaffray initiated Commerce Bancshares, Inc. (NASDAQ:CBSH) on Monday, July 11 with “Neutral” rating.
According to Zacks Investment Research, “Commerce Bancshares, Inc. is a registered bank holding company offering a full line of banking services, including retail and commercial banking, investment management and securities brokerage. The company operates locations in Missouri, Illinois, and Kansas. The company also has five other operating subsidiaries involved in mortgage banking, credit related insurance, venture capital, and real estate activities. (Company Press Release)”
Insitutional Activity: The institutional sentiment decreased to 1.02 in Q2 2016. Its down 0.11, from 1.13 in 2016Q1. The ratio is negative, as 15 funds sold all Commerce Bancshares, Inc. shares owned while 85 reduced positions. 15 funds bought stakes while 87 increased positions. They now own 58.05 million shares or 0.51% less from 58.34 million shares in 2016Q1.
Ls Invest Advsrs Ltd accumulated 0.02% or 4,978 shares. Smith Moore has 0.13% invested in the company for 6,408 shares. Ameritas Investment Partners owns 13,129 shares or 0.04% of their US portfolio. Diversified Tru holds 0.03% or 5,800 shares in its portfolio. Pacad Inv Limited holds 0.02% or 2,500 shares in its portfolio. Retirement Of Alabama accumulated 0.03% or 107,107 shares. Cambridge Investment Advisors reported 22,634 shares or 0.02% of all its holdings. Legal & General Group Plc holds 0.02% of its portfolio in Commerce Bancshares, Inc. (NASDAQ:CBSH) for 379,480 shares. Stratos Wealth Prtnrs Limited reported 30,925 shares or 0.11% of all its holdings. California Employees Retirement Systems has invested 0.02% of its portfolio in Commerce Bancshares, Inc. (NASDAQ:CBSH). Blackrock Inc has invested 0.01% of its portfolio in Commerce Bancshares, Inc. (NASDAQ:CBSH). Washington Bancorporation holds 0.04% or 3,080 shares in its portfolio. Swiss Bankshares holds 0.01% or 148,761 shares in its portfolio. Geode Capital Ltd Llc has invested 0.02% of its portfolio in Commerce Bancshares, Inc. (NASDAQ:CBSH). Nuance Invs Limited Co holds 2.37% or 478,626 shares in its portfolio.
Insider Transactions: Since May 24, 2016, the stock had 1 insider purchase, and 13 insider sales for $12.81 million net activity. 5,000 shares were sold by KIM CHARLES G, worth $240,201. $13,729 worth of Commerce Bancshares, Inc. (NASDAQ:CBSH) was sold by Kellerhals Patricia R. KEMPER JONATHAN M sold $2.36 million worth of stock or 50,000 shares. Shares for $714,269 were sold by RAUSCHER ROBERT on Thursday, May 26. $58,105 worth of Commerce Bancshares, Inc. (NASDAQ:CBSH) was bought by ABERDEEN JEFFERY D on Friday, July 15. On Friday, August 5 the insider STRANGHOENER V RAYMOND sold $240,707. On Friday, August 5 the insider BARTH KEVIN G sold $312,546.
More recent Commerce Bancshares, Inc. (NASDAQ:CBSH) news were published by: Reuters.com which released: “BRIEF- Commerce bancshares, inc. announces third quarter earnings” on October 14, 2016. Also Businesswire.com published the news titled: “Commerce Bancshares, Inc. Declares Stock Dividend and Quarterly Cash Dividends …” on October 28, 2016. Businesswire.com‘s news article titled: “Commerce Bancshares, Inc. (CBSH) Releases Results of 2016 Dodd-Frank Act …” with publication date: October 20, 2016 was also an interesting one.
CBSH Company Profile
Commerce Bancshares, Inc., incorporated on August 4, 1966, is a bank holding firm of Commerce Bank (the Bank). The Bank is engaged in general banking business, providing a range of retail, corporate, investment, trust and asset management services and products to individuals and businesses. The Firm operates through three divisions: Consumer, Commercial and Wealth. The Firm also owns, directly or through the Bank, various non-banking subsidiaries. The Company’s activities include private equity investment, securities brokerage, insurance agency, mortgage banking, and leasing activities.
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