Commerce Bancshares (CBSH) to Release Quarterly Earnings on Thursday

Commerce Bancshares (NASDAQ:CBSH) will be releasing its earnings data before the market opens on Thursday, July 18th. Analysts expect Commerce Bancshares to post earnings of $0.88 per share for the quarter.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.06. The company had revenue of $397.80 million during the quarter, compared to the consensus estimate of $389.49 million. Commerce Bancshares had a net margin of 23.33% and a return on equity of 16.78%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.90 earnings per share. On average, analysts expect Commerce Bancshares to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Commerce Bancshares Trading Up 2.8 %

Commerce Bancshares stock opened at $61.25 on Wednesday. Commerce Bancshares has a 12 month low of $40.91 and a 12 month high of $61.43. The stock has a fifty day simple moving average of $55.41 and a two-hundred day simple moving average of $53.72. The firm has a market cap of $7.93 billion, a price-to-earnings ratio of 17.06 and a beta of 0.76.

Insiders Place Their Bets

In related news, CEO John W. Kemper sold 26,581 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $56.77, for a total value of $1,509,003.37. Following the transaction, the chief executive officer now owns 198,387 shares of the company’s stock, valued at approximately $11,262,429.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CBSH shares. StockNews.com upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. Raymond James upgraded shares of Commerce Bancshares from a “market perform” rating to an “outperform” rating and set a $61.00 target price for the company in a research report on Wednesday, April 17th. Jefferies Financial Group increased their price target on shares of Commerce Bancshares from $60.00 to $62.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Keefe, Bruyette & Woods boosted their price objective on shares of Commerce Bancshares from $58.00 to $60.00 and gave the company a “market perform” rating in a research report on Friday, May 10th. Finally, Piper Sandler raised their target price on Commerce Bancshares from $53.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Commerce Bancshares presently has a consensus rating of “Hold” and an average target price of $56.71.

About Commerce Bancshares

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 in the United States. It operates through three segments: Consumer, Commercial, and Wealth.