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

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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
Oct 2014BarclaysMaintainsOverweight
Oct 2014DA DavidsonReiteratesBuy
Oct 2014Keefe Bruyette & WoodsMaintainsMarket Perform

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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