Commerce Bancshares, Inc. (NASDAQ:CBSH) – Research analysts at FIG Partners boosted their Q4 2018 earnings per share estimates for Commerce Bancshares in a report issued on Thursday. FIG Partners analyst J. Rodis now anticipates that the financial services provider will post earnings per share of $0.80 for the quarter, up from their prior estimate of $0.79.
CBSH has been the topic of a number of other research reports. Zacks Investment Research raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, July 10th. Barclays PLC set a $58.00 target price on shares of Commerce Bancshares and gave the company a “hold” rating in a research report on Sunday, July 16th. Keefe, Bruyette & Woods reissued a “sell” rating and set a $51.00 target price on shares of Commerce Bancshares in a research report on Friday, September 15th. UBS AG downgraded shares of Commerce Bancshares to an “underperform” rating in a research report on Thursday, August 10th. Finally, Piper Jaffray Companies reissued a “neutral” rating and set a $60.00 target price on shares of Commerce Bancshares in a research report on Friday, October 6th. Five equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Commerce Bancshares currently has an average rating of “Hold” and a consensus price target of $56.63.
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Commerce Bancshares (NASDAQ CBSH) traded up 1.425% during midday trading on Monday, reaching $57.285. 134,528 shares of the company traded hands. Commerce Bancshares has a one year low of $47.94 and a one year high of $60.61. The company has a 50 day moving average price of $56.05 and a 200-day moving average price of $55.99. The stock has a market capitalization of $5.82 billion, a P/E ratio of 20.292 and a beta of 0.83.
Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, October 12th. The financial services provider reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). Commerce Bancshares had a return on equity of 12.08% and a net margin of 23.93%. The business had revenue of $304.83 million for the quarter, compared to the consensus estimate of $317.28 million. During the same period in the previous year, the firm earned $0.68 EPS. The company’s revenue was up 4.9% on a year-over-year basis.
Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Commerce Bancshares by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 8,599,122 shares of the financial services provider’s stock valued at $488,688,000 after buying an additional 246,065 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Commerce Bancshares by 1.1% in the 2nd quarter. BlackRock Inc. now owns 7,591,937 shares of the financial services provider’s stock valued at $431,451,000 after buying an additional 82,095 shares in the last quarter. FMR LLC boosted its holdings in shares of Commerce Bancshares by 2.0% in the 2nd quarter. FMR LLC now owns 2,029,867 shares of the financial services provider’s stock valued at $115,357,000 after buying an additional 40,600 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Commerce Bancshares by 27.1% in the 2nd quarter. Lazard Asset Management LLC now owns 1,448,515 shares of the financial services provider’s stock valued at $82,318,000 after buying an additional 308,460 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Commerce Bancshares by 5.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,288,663 shares of the financial services provider’s stock valued at $72,371,000 after buying an additional 61,106 shares in the last quarter. Institutional investors and hedge funds own 62.20% of the company’s stock.
In other news, Director John R. Capps sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $54.82, for a total value of $548,200.00. Following the sale, the director now directly owns 12,828 shares in the company, valued at approximately $703,230.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman David W. Kemper sold 10,132 shares of the firm’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $57.83, for a total transaction of $585,933.56. Following the completion of the sale, the chairman now owns 1,270,757 shares in the company, valued at $73,487,877.31. The disclosure for this sale can be found here. Insiders sold a total of 20,819 shares of company stock worth $1,174,728 over the last 90 days. Company insiders own 4.30% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Monday, September 25th. Stockholders of record on Friday, September 8th were issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Thursday, September 7th. Commerce Bancshares’s dividend payout ratio is currently 31.91%.
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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