Brokerages forecast that Commerce Bancshares, Inc. (NASDAQ:CBSH) will announce $310.12 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Commerce Bancshares’ earnings. The lowest sales estimate is $306.83 million and the highest is $312.50 million. Commerce Bancshares reported sales of $295.34 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 5%. The company is expected to issue its next quarterly earnings report on Thursday, April 12th.
According to Zacks, analysts expect that Commerce Bancshares will report full year sales of $310.12 million for the current year, with estimates ranging from $1.24 billion to $1.32 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.34 billion per share, with estimates ranging from $1.30 billion to $1.38 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Commerce Bancshares.
Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.03. The firm had revenue of $314.22 million during 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%.
CBSH has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Commerce Bancshares from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research report on Monday, January 8th. BidaskClub upgraded Commerce Bancshares from a “hold” rating to a “buy” rating in a research report on Thursday, March 15th. Barclays raised their price target on Commerce Bancshares from $55.00 to $59.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Piper Jaffray Companies restated a “hold” rating and issued a $58.00 price target on shares of Commerce Bancshares in a research report on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods upgraded Commerce Bancshares from an “underperform” rating to a “market perform” rating and raised their price target for the company from $54.00 to $60.00 in a research report on Tuesday, February 27th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $57.88.
Commerce Bancshares (NASDAQ CBSH) traded down $0.01 during trading hours on Friday, reaching $61.15. The company’s stock had a trading volume of 310,275 shares, compared to its average volume of 488,811. The stock has a market capitalization of $6,572.77, a PE ratio of 22.13, a price-to-earnings-growth ratio of 2.31 and a beta of 0.76. Commerce Bancshares has a 1 year low of $51.90 and a 1 year high of $61.83.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 26th. Stockholders of record on Friday, March 9th will be given a $0.235 dividend. The ex-dividend date is Thursday, March 8th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.54%. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.23. Commerce Bancshares’s dividend payout ratio (DPR) is currently 32.44%.
In related news, VP Daniel D. Callahan sold 2,972 shares of Commerce Bancshares stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $58.56, for a total transaction of $174,040.32. Following the completion of the sale, the vice president now owns 36,266 shares in the company, valued at approximately $2,123,736.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John W. Kemper sold 78,359 shares of Commerce Bancshares stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $57.45, for a total value of $4,501,724.55. Following the sale, the insider now owns 1,284,021 shares of the company’s stock, valued at approximately $73,767,006.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 168,446 shares of company stock valued at $9,859,042. Company insiders own 4.00% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Cliftonlarsonallen Wealth Advisors LLC increased its position in Commerce Bancshares by 5.0% during the 4th quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 18,060 shares of the financial services provider’s stock worth $1,008,000 after purchasing an additional 858 shares in the last quarter. Bank of Montreal Can increased its position in Commerce Bancshares by 2.5% during the 4th quarter. Bank of Montreal Can now owns 35,974 shares of the financial services provider’s stock worth $2,009,000 after purchasing an additional 866 shares in the last quarter. Jane Street Group LLC increased its position in Commerce Bancshares by 5.9% during the 4th quarter. Jane Street Group LLC now owns 16,277 shares of the financial services provider’s stock worth $909,000 after purchasing an additional 906 shares in the last quarter. Thomas Story & Son LLC increased its position in Commerce Bancshares by 5.0% during the 4th quarter. Thomas Story & Son LLC now owns 19,139 shares of the financial services provider’s stock worth $1,069,000 after purchasing an additional 910 shares in the last quarter. Finally, Bbva Compass Bancshares Inc. increased its position in Commerce Bancshares by 13.0% during the 4th quarter. Bbva Compass Bancshares Inc. now owns 8,253 shares of the financial services provider’s stock worth $462,000 after purchasing an additional 952 shares in the last quarter. Hedge funds and other institutional investors own 62.66% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This news story was first published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this news story on another website, it was stolen and reposted in violation of United States & international trademark & copyright law. The original version of this news story can be accessed at https://www.dispatchtribunal.com/2018/03/20/zacks-analysts-expect-commerce-bancshares-inc-cbsh-will-announce-quarterly-sales-of-310-12-million.html.
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.
Get a free copy of the Zacks research report on Commerce Bancshares (CBSH)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Commerce Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commerce Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.