The stock of Commerce Bancshares, Inc. (NASDAQ:CBSH) reached all time high today, Nov, 24 and still has $61.46 target or 6.00% above today’s $57.98 share price. This indicates more upside for the $5.64B company. This technical setup was reported by Barchart.com. If the $61.46 PT is reached, the company will be worth $338.40M 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. The stock closed at $57.98 during the last session. It is down 22.87% since April 22, 2016 and is uptrending. It has outperformed by 17.46% the S&P500.
Analysts await Commerce Bancshares, Inc. (NASDAQ:CBSH) to report earnings on January, 18. They expect $0.70 EPS, up 11.11% or $0.07 from last year’s $0.63 per share. CBSH’s profit will be $68.09 million for 20.71 P/E if the $0.70 EPS becomes a reality. After $0.68 actual EPS reported by Commerce Bancshares, Inc. for the previous quarter, Wall Street now forecasts 2.94% EPS growth.
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 firm has “Underweight” rating given on Tuesday, September 20 by Morgan Stanley. The firm has “Hold” rating given on Thursday, October 15 by Jefferies. The stock of Commerce Bancshares, Inc. (NASDAQ:CBSH) earned “Neutral” rating by Piper Jaffray on Monday, July 11.
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 increased to 1.03 in Q2 2016. Its up 0.01, from 1.02 in 2016Q1. The ratio improved, 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.
Mufg Americas Corporation has 1,959 shares for 0% of their US portfolio. Champlain Inv Ltd Liability Co holds 0.93% or 1.13M shares in its portfolio. Kings Point Cap Mngmt holds 0.01% or 429 shares in its portfolio. Weaver C Barksdale Associate Inc accumulated 0.01% or 106 shares. The Minnesota-based Speece Thorson Gru has invested 2.91% in Commerce Bancshares, Inc. (NASDAQ:CBSH). Crawford Invest Counsel owns 11,686 shares or 0.02% of their US portfolio. Moreover, Mountain Pacific Advisers Id has 1.28% invested in Commerce Bancshares, Inc. (NASDAQ:CBSH) for 233,250 shares. Gemmer Asset Ltd Liability holds 0.01% of its portfolio in Commerce Bancshares, Inc. (NASDAQ:CBSH) for 220 shares. Citigroup Inc accumulated 0% or 7,137 shares. Arizona State Retirement Systems last reported 0.02% of its portfolio in the stock. Moreover, Voya Inv Limited Liability has 0.01% invested in Commerce Bancshares, Inc. (NASDAQ:CBSH) for 57,497 shares. Paloma Prns Mngmt Co has invested 0.01% of its portfolio in Commerce Bancshares, Inc. (NASDAQ:CBSH). Hsbc Public Ltd Co holds 0% or 13,706 shares in its portfolio. The New York-based Tompkins Finance Corp has invested 0% in Commerce Bancshares, Inc. (NASDAQ:CBSH). Sg Americas Securities Lc has invested 0.02% of its portfolio in Commerce Bancshares, Inc. (NASDAQ:CBSH).
Insider Transactions: Since May 26, 2016, the stock had 1 buy, and 15 selling transactions for $15.20 million net activity. On Friday, September 2 Kellerhals Patricia R sold $13,729 worth of the stock or 273 shares. $67,043 worth of shares were sold by Callahan Daniel D. on Tuesday, May 31. KEMPER JONATHAN M had sold 40,000 shares worth $2.27M. Another trade for 206 shares valued at $9,756 was sold by PETRIE MICHAEL J. 2,000 Commerce Bancshares, Inc. (NASDAQ:CBSH) shares with value of $58,105 were bought by ABERDEEN JEFFERY D. $714,269 worth of Commerce Bancshares, Inc. (NASDAQ:CBSH) was sold by RAUSCHER ROBERT on Thursday, May 26. 4,964 shares were sold by STRANGHOENER V RAYMOND, worth $240,707 on Friday, August 5.
More recent Commerce Bancshares, Inc. (NASDAQ:CBSH) news were published by: Nasdaq.com which released: “Commerce Bancshares Inc. Reveals 6% Gain In Q3 Bottom Line” on October 14, 2016. Also Streetinsider.com published the news titled: “Form 4 COMMERCE BANCSHARES INC For: Nov 21 Filed by: KIM CHARLES G” on November 22, 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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