Commerce Bancshares, Inc. (NASDAQ:CBSH) – Research analysts at DA Davidson increased their Q1 2018 earnings per share (EPS) estimates for Commerce Bancshares in a note issued to investors on Thursday, according to Zacks Investment Research. DA Davidson analyst J. Rulis now anticipates that the financial services provider will post earnings of $0.79 per share for the quarter, up from their previous forecast of $0.70. DA Davidson also issued estimates for Commerce Bancshares’ Q2 2018 earnings at $0.78 EPS, Q3 2018 earnings at $0.81 EPS, Q4 2018 earnings at $0.82 EPS, FY2018 earnings at $3.20 EPS and FY2019 earnings at $3.40 EPS.
Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.03. The company had revenue of $314.22 million for the quarter, compared to analysts’ expectations of $312.98 million. Commerce Bancshares had a return on equity of 12.22% and a net margin of 25.27%.
A number of other equities analysts have also recently commented on the company. Zacks Investment Research cut Commerce Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday. BidaskClub raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, February 5th. Barclays reaffirmed a “hold” rating and issued a $63.00 price target on shares of Commerce Bancshares in a research note on Sunday, January 21st. Keefe, Bruyette & Woods reaffirmed a “sell” rating and issued a $54.00 price target on shares of Commerce Bancshares in a research note on Friday, January 19th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $58.00 price target on shares of Commerce Bancshares in a research note on Tuesday, January 9th. Four research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Commerce Bancshares presently has a consensus rating of “Hold” and an average price target of $57.13.
Commerce Bancshares (NASDAQ CBSH) opened at $58.89 on Monday. The firm has a market capitalization of $6,280.00, a PE ratio of 20.38, a P/E/G ratio of 2.14 and a beta of 0.77. Commerce Bancshares has a 1-year low of $49.43 and a 1-year high of $59.72.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Commerce Bancshares by 2.9% during the second 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 during the period. BlackRock Inc. boosted its position in shares of Commerce Bancshares by 6.2% during the fourth quarter. BlackRock Inc. now owns 8,217,981 shares of the financial services provider’s stock valued at $458,894,000 after purchasing an additional 481,612 shares in the last quarter. Commerce Bank boosted its position in shares of Commerce Bancshares by 4.6% during the fourth quarter. Commerce Bank now owns 7,369,241 shares of the financial services provider’s stock valued at $411,498,000 after purchasing an additional 325,364 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Commerce Bancshares by 11.3% during the fourth quarter. American Century Companies Inc. now owns 3,643,390 shares of the financial services provider’s stock valued at $203,447,000 after purchasing an additional 369,008 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Commerce Bancshares by 2.0% during the second quarter. FMR LLC now owns 2,029,867 shares of the financial services provider’s stock valued at $115,357,000 after purchasing an additional 40,600 shares in the last quarter. 59.77% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CFO Charles G. Kim sold 6,909 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $58.66, for a total transaction of $405,281.94. Following the transaction, the chief financial officer now directly owns 87,303 shares of the company’s stock, valued at $5,121,193.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman David W. Kemper sold 22,988 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $58.81, for a total value of $1,351,924.28. Following the transaction, the chairman now directly owns 1,307,009 shares in the company, valued at $76,865,199.29. The disclosure for this sale can be found here. Insiders have sold 187,452 shares of company stock worth $10,692,049 over the last three months. Insiders own 4.30% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 26th. Stockholders of record on Friday, March 9th will be paid a dividend of $0.235 per share. The ex-dividend date of this dividend is Thursday, March 8th. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.23. This represents a $0.94 annualized dividend and a dividend yield of 1.60%. Commerce Bancshares’s payout ratio is 31.14%.
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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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