Commerce Bancshares (CBSH) was Initiated by Piper Jaffray to “Neutral” and the brokerage firm has set the Price Target at $43.50. Piper Jaffray advised their investors in a research report released on Jul 11, 2016.
Many Wall Street Analysts have commented on Commerce Bancshares. Piper Jaffray Initiated Commerce Bancshares on Jul 11, 2016 to “Neutral”, Price Target of the shares are set at $43.50.
On the company’s financial health, Commerce Bancshares reported $0.65 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 13, 2016. Analyst had a consensus of $0.62. The company had revenue of $282.80 million for the quarter, compared to analysts expectations of $281.27 million. The company’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 EPS.
Commerce Bancshares opened for trading at $47.42 and hit $47.68 on the upside on Friday, eventually ending the session at $47.16, with a gain of 0.92% or 0.43 points. The heightened volatility saw the trading volume jump to 5,10,059 shares. Company has a market cap of $4,553 M.
In a different news, on Jun 2, 2016, Jonathan M Kemper (Vice Chairman) sold 40,000 shares at $48.99 per share price. According to the SEC, on Jun 2, 2016, Daniel D. Callahan (Exec. Vice President & CCO) sold 1,372 shares at $48.87 per share price. On May 27, 2016, Robert Rauscher (Senior Vice President) sold 14,700 shares at $48.59 per share price, according to the Form-4 filing with the securities and exchange commission.
Commerce Bancshares Inc. is a bank holding company of Commerce Bank (the Bank). The Company operates through three segments: Consumer Commercial and Wealth. The Consumer segment includes the retail branch network consumer installment lending personal mortgage banking consumer debit and credit bank card activities. It provides services through a network of 195 branches an automated teller machine (ATM) network of 392 machines and the use of alternative delivery channels such as online banking mobile and telephone banking services. The Commercial segment provides an array of corporate lending merchant and commercial bank card products leasing and international services as well as business and government deposit and cash management services. The Wealth segment provides trust and estate tax planning services brokerage services and advisory and discretionary investment portfolio management services to both personal and institutional corporate customers.