Commerce Bancshares (NASDAQ:CBSH) – Investment analysts at Jefferies Group lifted their Q1 2018 earnings estimates for shares of Commerce Bancshares in a research note issued to investors on Wednesday, April 4th. Jefferies Group analyst C. Haire now anticipates that the financial services provider will earn $0.78 per share for the quarter, up from their prior forecast of $0.76. Jefferies Group also issued estimates for Commerce Bancshares’ FY2018 earnings at $3.45 EPS and FY2019 earnings at $3.70 EPS.
A number of other research analysts have also recently weighed in on the stock. ValuEngine cut shares of Commerce Bancshares from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. BidaskClub upgraded shares of Commerce Bancshares from a “hold” rating to a “buy” rating in a research report on Thursday, March 15th. Keefe, Bruyette & Woods upgraded shares of Commerce Bancshares from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $54.00 to $60.00 in a research report on Tuesday, February 27th. Zacks Investment Research cut shares of Commerce Bancshares from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. Finally, Barclays reiterated a “hold” rating and set a $63.00 price objective on shares of Commerce Bancshares in a research report on Sunday, January 21st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. Commerce Bancshares currently has a consensus rating of “Hold” and an average target price of $57.88.
CBSH stock opened at $58.95 on Friday. Commerce Bancshares has a twelve month low of $51.90 and a twelve month high of $61.88. The firm has a market cap of $6,451.98, a price-to-earnings ratio of 21.28, a PEG ratio of 2.26 and a beta of 0.69.
Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.03. Commerce Bancshares had a net margin of 25.27% and a return on equity of 12.22%. The company had revenue of $314.22 million for the quarter, compared to analysts’ expectations of $312.98 million.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its stake 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 during the period. Commerce Bank boosted its stake 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 during the period. American Century Companies Inc. boosted its stake 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 during the period. Lazard Asset Management LLC boosted its stake in shares of Commerce Bancshares by 11.3% during the fourth quarter. Lazard Asset Management LLC now owns 1,637,293 shares of the financial services provider’s stock valued at $91,425,000 after purchasing an additional 165,690 shares during the period. Finally, Schroder Investment Management Group boosted its stake in shares of Commerce Bancshares by 49.9% during the fourth quarter. Schroder Investment Management Group now owns 1,266,154 shares of the financial services provider’s stock valued at $70,702,000 after purchasing an additional 421,526 shares during the period. 62.75% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Michael J. Petrie sold 1,709 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $58.76, for a total transaction of $100,420.84. Following the completion of the sale, the insider now directly owns 12,359 shares of the company’s stock, valued at $726,214.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sara E. Foster sold 3,361 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $58.69, for a total transaction of $197,257.09. Following the sale, the executive vice president now directly owns 50,898 shares of the company’s stock, valued at $2,987,203.62. The disclosure for this sale can be found here. Insiders have sold 168,774 shares of company stock valued at $9,878,981 over the last three months. Insiders own 4.00% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Monday, March 26th. Stockholders of record on Friday, March 9th were paid a dividend of $0.235 per share. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.23. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Thursday, March 8th. Commerce Bancshares’s payout ratio is currently 33.94%.
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About Commerce Bancshares
Commerce Bancshares, Inc operates as the holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses. It operates through three segments: Consumer, Commercial, and Wealth. The Consumer segment offers various banking products and services, including consumer deposits; consumer loans, such as automobile, motorcycle, marine, tractor/trailer, recreational vehicle, fixed rate and revolving home equity, and other consumer loans; patient health care financing; real estate loans; indirect and other consumer financing; personal mortgage banking; consumer installment lending; and consumer debit and credit bank cards, as well as provides online, mobile, and telephone banking services.
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