Commerce Bancshares (NASDAQ:CBSH) Posts Earnings Results

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Commerce Bancshares (NASDAQ:CBSH) announced its earnings results on Tuesday. The financial services provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.02, RTT News reports. Commerce Bancshares had a return on equity of 15.65% and a net margin of 30.39%. The business had revenue of $338.90 million during the quarter, compared to analysts’ expectations of $339.94 million. During the same quarter in the prior year, the firm earned $0.96 earnings per share. The business’s revenue was up 4.4% compared to the same quarter last year.

CBSH stock opened at $58.54 on Wednesday. The firm has a 50 day moving average of $58.86. The stock has a market capitalization of $6.43 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 1.99 and a beta of 0.73. Commerce Bancshares has a 1 year low of $53.40 and a 1 year high of $72.55.

CBSH has been the subject of a number of research analyst reports. Stephens initiated coverage on Falcon Minerals in a report on Thursday, April 11th. They set an “overweight” rating and a $12.00 target price for the company. BidaskClub cut ZIX from a “buy” rating to a “hold” rating in a report on Wednesday. DA Davidson reduced their target price on Commerce Bancshares to $60.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Raymond James cut First Midwest Bancorp to a “hold” rating in a report on Monday, July 8th. Finally, Zacks Investment Research raised Eutelsat Communications from a “hold” rating to a “strong-buy” rating and set a $21.00 target price for the company in a report on Wednesday, June 12th. Three equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $58.91.

In other news, insider John K. Handy sold 3,541 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.79, for a total value of $218,798.39. Following the completion of the sale, the insider now directly owns 35,251 shares in the company, valued at $2,178,159.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.60% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. Segall Bryant & Hamill LLC grew its position in Commerce Bancshares by 4.9% in the fourth quarter. Segall Bryant & Hamill LLC now owns 3,573 shares of the financial services provider’s stock worth $201,000 after acquiring an additional 168 shares during the period. Commonwealth Equity Services LLC grew its position in Commerce Bancshares by 1.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 12,503 shares of the financial services provider’s stock worth $704,000 after acquiring an additional 169 shares during the period. Gemmer Asset Management LLC grew its position in Commerce Bancshares by 79.4% in the first quarter. Gemmer Asset Management LLC now owns 452 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 200 shares during the period. Hancock Whitney Corp grew its position in Commerce Bancshares by 5.0% in the fourth quarter. Hancock Whitney Corp now owns 4,268 shares of the financial services provider’s stock worth $241,000 after acquiring an additional 203 shares during the period. Finally, Parallel Advisors LLC grew its position in Commerce Bancshares by 5.8% in the first quarter. Parallel Advisors LLC now owns 3,779 shares of the financial services provider’s stock worth $219,000 after acquiring an additional 207 shares during the period. Institutional investors and hedge funds own 63.08% of the company’s stock.

Commerce Bancshares Company Profile

Commerce Bancshares, Inc operates as the bank holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online banking services.

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Earnings History for Commerce Bancshares (NASDAQ:CBSH)

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