In a letter distributed to investors on Friday, equity research analysts at Morgan Stanley lowered their price objective on Commerce Bancshares’ (NASDAQ: CBSH) stock from $70.48 to $70.00. Benzinga reported this information. On Friday, the letter was delivered to the recipient. An “equal weight” rating has been placed on the company’s shares of the financial services provider’s (NASDAQ: CBSH) stock. This information was communicated to investors in a letter distributed on Friday. The price target for the stock has been reduced from $70.48 to $70.00. On Friday, the letter was delivered to the recipient. The rating for the company’s shares of the financial services provider is currently “equal weight,” and this rating was just recently issued. According to the target price that Morgan Stanley has established for the stock, there is the potential for the stock’s price to increase by 2.32% in comparison to its most recent closing price.
Regarding the stock, it has also been written about by various analysts. StockNews.com began providing coverage of Commerce Bancshares on Wednesday, October 12, within a research report posted on their website. They advised their clients to “hold” the stock moving forward. Piper Jaffray upgraded Commerce Bancshares from a “neutral” rating to an “overweight” rating and increased their target price on the stock from $69 to $74 in a research report published on Wednesday, November 16.
Following a rise of $0.75 spread out throughout the trading day, the price of one share of CBSH rose to $68.41 on Friday. The typical trading volume for the stock is 353,153 shares, but only 407 of the company’s shares were traded today. This is a significantly lower amount than the daily volume of trading. The stock price is currently $69.63, which is higher than its fifty-day moving average and its 200-day moving average, which are both currently sitting at $69.20. A price-to-earnings ratio of 18.37 has been assigned to the company’s stock, and its beta value has been determined to be 0.77. The market value of the company’s stock is $8.57 billion. During the previous year, the price of a share of Commerce Bancshares ranged from its all-time low of $59.81 to its all-time high of $72.60.
On Tuesday, October 18, the most recent quarterly earnings report for Commerce Bancshares (NASDAQ: CBSH) was made public. The financial services company’s quarterly profits per share came in at $0.97, which was $0.02 less than the consensus expectation of $0.99, determined by polling participants. According to the estimates provided by the analysts, the anticipated revenue for the following quarter could be anywhere from $383.58 million to $384.90 million. The return on equity for Commerce Bancshares was 16.45 percent, and the company’s net margin was 31.86%. When compared to the same period of the previous fiscal year, the revenue for the current quarter saw a 9.5% increase. Earnings per share for the company were $1.00 for the quarter, which corresponded to the same period as the year before. Stock market experts anticipate that Commerce Bancshares will most likely generate earnings of $3.88 per share during the current fiscal year. This is according to predictions made by stock market analysts.
According to reports from other sources concerning the company, Commerce Bancshares’ director David W. Kemper sold 10,000 shares of the firm’s stock on Wednesday, October 19. This information was disclosed in another piece of news regarding the company. As was reported in other recent news concerning the company, Commerce Bancshares’ director David W. Kemper sold 10,000 shares of the company’s stock on October 19. The transaction took place at the same price. The average price paid for each share was 69.54 cents, resulting in a total profit of $695,400.00 when all of the shares were sold. As a direct result of the transaction, the director was allowed to purchase 1,151,838 shares of the company. Based on current market values, these shares are estimated to be worth approximately 80,098,814.52 dollars. The transaction was described in a document distributed by the SEC and can be viewed on the organization’s website. On October 19, director David W. Kemper made a transaction that sold 10,000 shares of the company’s stock. The transaction was completed. The average price paid for each share was 69.54 cents, resulting in a total profit of $695,400.00 when all of the shares were sold. After the completion of the transaction, the director was awarded 1,151,838 shares of the company, each of which is currently estimated to be worth approximately USD 80,098,814.52 at the current market price. You will be taken to a legal file submitted to the SEC if you click on the link we have provided, where you will find additional information regarding the sale. David W. Kemper, also a company director, sold 3,000 of the firm’s shares of stock on Thursday, December 1. A total of 213 780 dollars worth of the company’s stock was traded for $71.26 per share, making the total amount transacted 213 780 dollars. The director now directly owns 1,204,220 shares of the company, which have a value of approximate
Read More: Morgan Stanley has raised its price target on Commerce Bancshares (NASDAQ:CBSH) to