Commerce Bancshares (NASDAQ:CBSH) – Analysts at DA Davidson boosted their Q2 2018 EPS estimates for shares of Commerce Bancshares in a research report issued on Thursday, April 12th. DA Davidson analyst J. Rulis now forecasts that the financial services provider will earn $0.87 per share for the quarter, up from their prior estimate of $0.78. DA Davidson has a “Neutral” rating and a $67.00 price target on the stock. DA Davidson also issued estimates for Commerce Bancshares’ Q3 2018 earnings at $0.87 EPS, Q4 2018 earnings at $0.89 EPS, FY2018 earnings at $3.55 EPS and FY2019 earnings at $3.75 EPS.
Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Commerce Bancshares from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. ValuEngine upgraded shares of Commerce Bancshares from a “hold” rating to a “buy” rating in a research note on Thursday, April 12th. BidaskClub cut shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, January 30th. Piper Jaffray restated a “hold” rating and set a $58.00 target price on shares of Commerce Bancshares in a research note on Tuesday, January 9th. Finally, UBS upgraded shares of Commerce Bancshares to a “market perform” rating in a research note on Tuesday, April 10th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. Commerce Bancshares presently has a consensus rating of “Hold” and an average price target of $59.22.
NASDAQ CBSH opened at $63.42 on Monday. Commerce Bancshares has a 12 month low of $51.90 and a 12 month high of $64.21. The company has a market cap of $6,689.18, a price-to-earnings ratio of 22.90, a PEG ratio of 2.25 and a beta of 0.69.
Commerce Bancshares (NASDAQ:CBSH) last released its earnings results on Thursday, January 18th. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. Commerce Bancshares had a net margin of 27.16% and a return on equity of 13.21%. The company had revenue of $314.22 million for the quarter, compared to analysts’ expectations of $312.98 million.
Institutional investors have recently added to or reduced their stakes in the company. Bank of The Ozarks raised its position in shares of Commerce Bancshares by 5.4% during the fourth quarter. Bank of The Ozarks now owns 21,101 shares of the financial services provider’s stock valued at $1,178,000 after buying an additional 1,074 shares during the last quarter. Schroder Investment Management Group raised its position 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 buying an additional 421,526 shares during the last quarter. State of Wisconsin Investment Board raised its position in shares of Commerce Bancshares by 5.4% during the fourth quarter. State of Wisconsin Investment Board now owns 19,336 shares of the financial services provider’s stock valued at $1,080,000 after buying an additional 988 shares during the last quarter. Koch Industries Inc. bought a new stake in shares of Commerce Bancshares during the fourth quarter valued at approximately $652,000. Finally, UMB Bank N A MO raised its position in shares of Commerce Bancshares by 5.5% during the fourth quarter. UMB Bank N A MO now owns 192,541 shares of the financial services provider’s stock valued at $10,751,000 after buying an additional 9,955 shares during the last quarter. Hedge funds and other institutional investors own 62.76% of the company’s stock.
In other news, CFO Charles G. Kim sold 6,909 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $58.66, for a total transaction of $405,281.94. Following the sale, the chief financial officer now owns 87,303 shares in the company, valued at $5,121,193.98. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider John W. Kemper sold 78,359 shares of Commerce Bancshares stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $57.45, for a total transaction of $4,501,724.55. Following the sale, the insider now owns 1,284,021 shares in the company, valued at approximately $73,767,006.45. The disclosure for this sale can be found here. In the last quarter, insiders have sold 168,774 shares of company stock worth $9,878,981. Company insiders own 4.00% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 26th. Stockholders of record on Friday, March 9th were given a dividend of $0.235 per share. The ex-dividend date of this dividend was Thursday, March 8th. This represents a $0.94 annualized dividend and a dividend yield of 1.48%. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.23. Commerce Bancshares’s dividend payout ratio (DPR) is presently 33.94%.
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Commerce Bancshares Company Profile
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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