Commerce Bancshares, Inc. (NASDAQ:CBSH) – Stock analysts at Jefferies Group raised their FY2017 earnings estimates for shares of Commerce Bancshares in a research note issued on Tuesday. Jefferies Group analyst C. Haire now expects that the financial services provider will earn $2.80 per share for the year, up from their prior estimate of $2.79. Jefferies Group also issued estimates for Commerce Bancshares’ Q4 2017 earnings at $0.74 EPS, Q1 2018 earnings at $0.79 EPS, Q2 2018 earnings at $0.85 EPS, Q3 2018 earnings at $0.88 EPS and Q4 2018 earnings at $0.90 EPS.
Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Thursday, October 12th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $304.83 million for the quarter, compared to the consensus estimate of $317.28 million. During the same quarter last year, the business earned $0.68 earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year.
Several other equities analysts have also recently issued reports on the company. BidaskClub upgraded Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday. Piper Jaffray Companies restated a “hold” rating and set a $58.00 price objective on shares of Commerce Bancshares in a research note on Tuesday, January 9th. Zacks Investment Research upgraded Commerce Bancshares from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a research note on Monday, January 8th. Finally, Barclays raised their target price on Commerce Bancshares from $55.00 to $59.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Four research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $56.25.
Commerce Bancshares (NASDAQ:CBSH) opened at $57.95 on Friday. Commerce Bancshares has a one year low of $49.43 and a one year high of $58.66. The stock has a market capitalization of $6,180.00, a price-to-earnings ratio of 21.62, a P/E/G ratio of 2.28 and a beta of 0.80. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.68 and a current ratio of 0.68.
Hedge funds have recently bought and sold shares of the business. Captrust Financial Advisors bought a new stake in shares of Commerce Bancshares during the second quarter valued at about $106,000. Citizens Financial Group Inc RI raised its stake in shares of Commerce Bancshares by 25.5% during the second quarter. Citizens Financial Group Inc RI now owns 2,650 shares of the financial services provider’s stock valued at $151,000 after purchasing an additional 539 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Commerce Bancshares by 8.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,339 shares of the financial services provider’s stock valued at $190,000 after purchasing an additional 264 shares in the last quarter. SignalPoint Asset Management LLC bought a new stake in shares of Commerce Bancshares during the third quarter valued at about $226,000. Finally, Wedbush Securities Inc. bought a new stake in shares of Commerce Bancshares during the third quarter valued at about $229,000. Institutional investors own 59.14% of the company’s stock.
In other Commerce Bancshares news, Vice Chairman Jonathan M. Kemper sold 55,000 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $55.06, for a total value of $3,028,300.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider V Raymond Stranghoener sold 6,399 shares of the firm’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $58.40, for a total value of $373,701.60. Following the completion of the sale, the insider now owns 47,112 shares in the company, valued at $2,751,340.80. The disclosure for this sale can be found here. Company insiders own 4.30% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Monday, December 18th. Shareholders of record on Thursday, November 30th were paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date was Wednesday, November 29th. Commerce Bancshares’s payout ratio is 33.58%.
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Commerce Bancshares Company Profile
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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