Stock On Watch: Is Buying 52-Week Stock Like Commerce Bancshares, Inc. a Winning Strategy?

Stock On Watch: Is Buying 52 Week Stock Like Commerce Bancshares, Inc. a Winning Strategy?

The stock of Commerce Bancshares, Inc. (NASDAQ:CBSH) hit a new 52-week high and has $62.60 target or 8.00% above today’s $57.96 share price. The 9 months bullish chart indicates low risk for the $5.64B company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $62.60 price target is reached, the company will be worth $451.20M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 89,254 shares traded hands. Commerce Bancshares, Inc. (NASDAQ:CBSH) has risen 23.92% since April 21, 2016 and is uptrending. It has outperformed by 18.59% 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 $68.12 million for 20.70 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 stock of Commerce Bancshares, Inc. (NASDAQ:CBSH) has “Neutral” rating given on Monday, July 11 by Piper Jaffray. As per Tuesday, September 20, the company rating was downgraded by Morgan Stanley. Jefferies maintained Commerce Bancshares, Inc. (NASDAQ:CBSH) on Thursday, October 15 with “Hold” 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 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.
The California-based First Republic Invest Mgmt Inc has invested 0.01% in Commerce Bancshares, Inc. (NASDAQ:CBSH). State Board Of Administration Of Florida Retirement Sys has invested 0.02% of its portfolio in Commerce Bancshares, Inc. (NASDAQ:CBSH). Teachers Retirement Sys Of The State Of Kentucky has 0.01% invested in the company for 15,639 shares. Walleye Trading Ltd accumulated 0% or 2,108 shares. Fdx Advisors Incorporated has 0.02% invested in the company for 7,972 shares. Merriman Wealth Mgmt Limited Liability Co accumulated 0.09% or 6,964 shares. The Minnesota-based Speece Thorson Group Inc Inc has invested 2.91% in Commerce Bancshares, Inc. (NASDAQ:CBSH). Capital Fincl Advisers Ltd Liability Corporation accumulated 127,978 shares or 0.06% of the stock. The Ontario – Canada-based Bancorp Of Montreal Can has invested 0.01% in Commerce Bancshares, Inc. (NASDAQ:CBSH). Citigroup Inc owns 7,137 shares or 0% of their US portfolio. Moreover, Lpl Fincl Limited Com has 0% invested in Commerce Bancshares, Inc. (NASDAQ:CBSH) for 10,556 shares. Moreover, Regions Financial has 0.01% invested in Commerce Bancshares, Inc. (NASDAQ:CBSH) for 13,437 shares. Blackrock Japan Limited, a Japan-based fund reported 8,416 shares. Champlain Partners Ltd Liability Corp last reported 0.93% of its portfolio in the stock. Los Angeles Cap Mngmt & Equity Incorporated holds 130,434 shares or 0.05% of its portfolio.

Insider Transactions: Since May 24, 2016, the stock had 1 insider buy, and 15 insider sales for $15.20 million net activity. The insider KEMPER JONATHAN M sold $2.36 million. PETRIE MICHAEL J had sold 498 shares worth $24,173 on Tuesday, May 24. STRANGHOENER V RAYMOND sold 4,964 shares worth $240,707. Kellerhals Patricia R sold $13,729 worth of stock. Callahan Daniel D. sold $67,043 worth of Commerce Bancshares, Inc. (NASDAQ:CBSH) on Tuesday, May 31. Shares for $58,105 were bought by ABERDEEN JEFFERY D on Friday, July 15. BARTH KEVIN G also sold $312,546 worth of Commerce Bancshares, Inc. (NASDAQ:CBSH) shares.

More important recent Commerce Bancshares, Inc. (NASDAQ:CBSH) news were published by: Streetinsider.com which released: “Form 4 COMMERCE BANCSHARES INC For: Nov 21 Filed by: KIM CHARLES G” on November 22, 2016, also Businesswire.com published article titled: “Commerce Bancshares, Inc. Declares Stock Dividend and Quarterly Cash Dividends …”, Nasdaq.com published: “Commerce Bancshares Inc. Reveals 6% Gain In Q3 Bottom Line” on October 14, 2016. More interesting news about Commerce Bancshares, Inc. (NASDAQ:CBSH) was released by: Equitiesfocus.com and their article: “Commerce Bancshares, Inc. (NASDAQ:CBSH) Dividend At $0.225 Per Share” with publication date: November 23, 2016.

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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