Analysts expect Commerce Bancshares, Inc. (NASDAQ:CBSH) to announce $0.75 earnings per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Commerce Bancshares’ earnings, with estimates ranging from $0.73 to $0.78. Commerce Bancshares reported earnings of $0.65 per share during the same quarter last year, which would indicate a positive year over year growth rate of 15.4%. The firm is expected to issue its next earnings results on Friday, October 13th.
On average, analysts expect that Commerce Bancshares will report full-year earnings of $2.94 per share for the current year, with EPS estimates ranging from $2.90 to $2.99. For the next fiscal year, analysts forecast that the company will post earnings of $3.10 per share, with EPS estimates ranging from $3.00 to $3.24. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that follow Commerce Bancshares.
Commerce Bancshares (NASDAQ:CBSH) last issued its earnings results on Thursday, July 13th. The financial services provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.05. Commerce Bancshares had a net margin of 23.79% and a return on equity of 12.01%. The firm had revenue of $305.89 million for the quarter, compared to analyst estimates of $309.44 million. During the same quarter last year, the business posted $0.70 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis.
A number of equities analysts have commented on the stock. Barclays PLC set a $58.00 price target on shares of Commerce Bancshares and gave the stock a “hold” rating in a research note on Sunday, July 16th. Zacks Investment Research raised shares of Commerce Bancshares from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Monday, July 17th. Stephens reaffirmed an “equal weight” rating and issued a $56.00 price objective (up previously from $52.00) on shares of Commerce Bancshares in a research note on Monday, July 17th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $52.00 price objective on shares of Commerce Bancshares in a research note on Friday, July 14th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $61.00 price objective on shares of Commerce Bancshares in a research note on Friday, July 14th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $55.00.
In other Commerce Bancshares news, insider Jeffery D. Aberdeen sold 687 shares of the stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $59.09, for a total transaction of $40,594.83. Following the completion of the sale, the insider now owns 40,232 shares of the company’s stock, valued at approximately $2,377,308.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Jonathan M. Kemper sold 36,979 shares of the stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $54.10, for a total transaction of $2,000,563.90. Following the sale, the insider now directly owns 1,045,605 shares of the company’s stock, valued at approximately $56,567,230.50. The disclosure for this sale can be found here. Insiders sold a total of 48,099 shares of company stock valued at $2,643,431 in the last ninety days. 4.30% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in CBSH. Envestnet Asset Management Inc. boosted its stake in shares of Commerce Bancshares by 67.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,173 shares of the financial services provider’s stock valued at $185,000 after buying an additional 1,273 shares during the last quarter. Tudor Investment Corp Et Al purchased a new stake in shares of Commerce Bancshares during the fourth quarter valued at $206,000. Thrivent Financial for Lutherans boosted its stake in shares of Commerce Bancshares by 15.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 15,001 shares of the financial services provider’s stock valued at $867,000 after buying an additional 1,981 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Commerce Bancshares during the fourth quarter valued at $680,000. Finally, Teachers Advisors LLC boosted its stake in shares of Commerce Bancshares by 23.3% in the fourth quarter. Teachers Advisors LLC now owns 110,673 shares of the financial services provider’s stock valued at $6,398,000 after buying an additional 20,944 shares during the last quarter. 62.05% of the stock is owned by institutional investors and hedge funds.
Shares of Commerce Bancshares (NASDAQ:CBSH) traded down 0.55% during mid-day trading on Monday, reaching $57.51. 296,158 shares of the company’s stock were exchanged. Commerce Bancshares has a 52-week low of $44.27 and a 52-week high of $60.61. The firm has a market cap of $5.84 billion, a P/E ratio of 20.84 and a beta of 0.81. The company has a 50 day moving average price of $57.20 and a 200 day moving average price of $56.41.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 25th. Stockholders of record on Friday, September 8th will be paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.56%. Commerce Bancshares’s dividend payout ratio (DPR) is 32.64%.
About Commerce Bancshares
Commerce Bancshares, Inc is a bank holding company of Commerce Bank (the Bank). The Bank is engaged in general banking business, providing a range of retail, mortgage banking, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.
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