Market Overview

UPDATE: Morgan Stanley Downgrades Commerce Bancshares to Underweight on NIM Pressure

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Earnings Scheduled For July 15, 2014

Morgan Stanley reduced its rating on Commerce Bancshares (NASDAQ: CBSH) from Equal-weight to Underweight while lowering its price target from $43 to $40.

Morgan Stanley commented, "We are 9% below consensus in 2013 and 20% below in 2014. Aside from the Street still not having adjusted EPS for the recent 5% stock dividend, we are below due to our expectation for more material NIM compression and lack of balance sheet growth. As consensus estimates decline, we expect the shares to underperform its midcap bank peers."

Commerce Bancshares closed at $38.76 on Tuesday.

Latest Ratings for CBSH

DateFirmActionFromTo
Jul 2014MacquarieMaintainsNeutral
Jul 2014BarclaysMaintainsOverweight
Apr 2014Bank of AmericaMaintainsNeutral

View More Analyst Ratings for CBSH
View the Latest Analyst Ratings

Posted-In: Morgan StanleyAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

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