Merrill Lynch analyst Ebrahim Poonawala maintained a Sell rating on Commerce Bancshares Inc (NASDAQ: CBSH) on July 13 and set a price target of $68. The company’s shares closed on Friday at $67.54, close to its 52-week high of $70.
According to TipRanks.com, Poonawala is ranked #2012 out of 4843 analysts.
Commerce Bancshares Inc has an analyst consensus of Moderate Sell, with a price target consensus of $66.50, implying a -1.5% downside from current levels. In a report issued on July 10, Raymond James also downgraded the stock to Sell.
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Based on Commerce Bancshares Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $110 million. In comparison, last year the company had a net profit of $78.02 million.
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Commerce Bancshares, Inc. operates as a bank holding company for Commerce Bank. It provides general banking services, such as retail, corporate, investment, trust, and asset management products and services to individuals and businesses. The company operates through the following business segments: Consumer, Commercial and Wealth.
