Time to Buy Commerce Bancshares, Inc. After The Completion of This Double Top Pattern?

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The chart of Commerce Bancshares, Inc. (CBSH) shows a double top with $53.84 target or 27.00% above today’s $42.39 share price. The 6 months chart pattern indicates low risk for the $4.21B company. It was reported on Dec, 12 by Finviz.com. If the $53.84 price target is reached, the company will be worth $1.14 billion more. Double tops are rare but powerful chart patterns. The stock is down 0.02% or $0.01 after the news, hitting $42.39 per share. About 559,050 shares traded hands or 46.57% up from the average. Commerce Bancshares, Inc. (NASDAQ:CBSH) has risen 0.12% since May 8, 2015 and is uptrending. It has outperformed by 3.13% the S&P500.

Out of 9 analysts covering Commerce Bancshares (NASDAQ:CBSH), 0 rate it “Buy”, 1 “Sell”, while 9 “Hold”. This means 0% are positive. $47.62 is the highest target while $40.95 is the lowest. The $43.81 average target is 4.98% above today’s ($42.39) stock price. Commerce Bancshares was the topic in 4 analyst reports since October 15, 2015 according to StockzIntelligence Inc. Jefferies maintained the stock on 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)” Get a free copy of the Zacks research report on Commerce Bancshares, Inc. (CBSH).

The institutional sentiment decreased to 0.86 in 2015 Q3. Its down 0.33, from 1.19 in 2015Q2. The ratio dived, as 21 funds sold all Commerce Bancshares, Inc. shares owned while 96 reduced positions. 28 funds bought stakes while 73 increased positions. They now own 63.64 million shares or 10.43% more from 57.63 million shares in 2015Q2.

Commerce Bank holds 6.32% of its portfolio in Commerce Bancshares, Inc. for 8.06 million shares. Speece Thorson Capital Group Inc owns 257,271 shares or 2.92% of their US portfolio. Moreover, Nuance Investments Llc has 2.52% invested in the company for 505,699 shares. The Illinois-based Evanston Investments Inc. Dba Evanston Advisors has invested 2.06% in the stock. Vigilant Capital Management Llc, a Maine-based fund reported 175,370 shares.

Since March 10, 2015, the stock had 0 buys, and 5 sales for $1.60 million net activity. Barth Kevin G sold 3,647 shares worth $164,115. Stranghoener V Raymond sold 4,000 shares worth $186,484. Kemper David W sold 10,697 shares worth $504,176. Callahan Daniel D. sold 869 shares worth $41,173. The insider Kemper Jonathan M sold 25,000 shares worth $1.14 million.

More notable recent Commerce Bancshares, Inc. (NASDAQ:CBSH) news were published by: Seekingalpha.com which released: “Commerce Bancshares, Inc.: A Quality Regional Bank Poised To Breakout” on November 30, 2015, also Businesswire.com with their article: “Commerce Bancshares, Inc. (CBSH) Releases Results of 2015 Dodd-Frank Act …” published on June 25, 2015, Zacks.com published: “Is it Time to Drop Commerce Bancshares from Your Portfolio?” on November 18, 2015. More interesting news about Commerce Bancshares, Inc. (NASDAQ:CBSH) were released by: Prnewswire.com and their article: “IBERIABANK Corporation Completes Acquisition of Georgia Commerce Bancshares, Inc.” published on June 01, 2015 as well as Prnewswire.com‘s news article titled: “IBERIABANK Corporation Announces Agreement to Acquire Georgia Commerce …” with publication date: December 08, 2014.

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