Wall Street analysts predict that Commerce Bancshares, Inc. (NASDAQ:CBSH) will post earnings of $0.89 per share for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Commerce Bancshares’ earnings. The highest EPS estimate is $0.90 and the lowest is $0.87. Commerce Bancshares reported earnings of $0.71 per share in the same quarter last year, which would indicate a positive year over year growth rate of 25.4%. The firm is scheduled to report its next quarterly earnings results before the market opens on Thursday, July 12th.
On average, analysts expect that Commerce Bancshares will report full-year earnings of $3.61 per share for the current fiscal year, with EPS estimates ranging from $3.55 to $3.65. For the next financial year, analysts forecast that the company will post earnings of $3.76 per share, with EPS estimates ranging from $3.68 to $3.85. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that cover Commerce Bancshares.
Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Thursday, April 12th. The financial services provider reported $0.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.12. The business had revenue of $312.58 million for the quarter, compared to analyst estimates of $310.64 million. Commerce Bancshares had a net margin of 27.16% and a return on equity of 13.21%. During the same quarter in the previous year, the business posted $0.68 EPS.
Several equities research analysts recently issued reports on the stock. Wells Fargo & Co lifted their price target on shares of Commerce Bancshares from $57.00 to $60.00 and gave the stock a “market perform” rating in a research note on Tuesday. BidaskClub raised shares of Commerce Bancshares from a “hold” rating to a “buy” rating in a research note on Thursday, June 21st. ValuEngine raised shares of Commerce Bancshares from a “hold” rating to a “buy” rating in a research note on Tuesday, June 5th. Bank of America downgraded shares of Commerce Bancshares from a “neutral” rating to an “underperform” rating and set a $64.00 price target on the stock. in a research note on Tuesday, May 15th. They noted that the move was a valuation call. Finally, Morgan Stanley lifted their price target on shares of Commerce Bancshares from $57.00 to $59.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 17th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $61.40.
Commerce Bancshares traded down $0.06, hitting $64.71, during midday trading on Tuesday, Marketbeat Ratings reports. 396,200 shares of the stock were exchanged, compared to its average volume of 483,945. Commerce Bancshares has a 1 year low of $51.90 and a 1 year high of $67.42. The company has a market capitalization of $6.91 billion, a price-to-earnings ratio of 23.36, a price-to-earnings-growth ratio of 1.95 and a beta of 0.67.
The company also recently announced a quarterly dividend, which was paid on Monday, June 25th. Shareholders of record on Friday, June 8th were paid a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend was Thursday, June 7th. Commerce Bancshares’s payout ratio is 33.94%.
In other Commerce Bancshares news, VP Daniel D. Callahan sold 1,057 shares of the business’s stock in a transaction dated Wednesday, April 18th. The shares were sold at an average price of $62.96, for a total transaction of $66,548.72. Following the completion of the transaction, the vice president now directly owns 31,275 shares of the company’s stock, valued at approximately $1,969,074. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Jonathan M. Kemper sold 46,030 shares of the business’s stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of $65.30, for a total transaction of $3,005,759.00. Following the transaction, the insider now directly owns 993,378 shares of the company’s stock, valued at $64,867,583.40. The disclosure for this sale can be found here. Insiders have sold a total of 61,566 shares of company stock valued at $3,986,391 over the last three months. 4.00% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its stake in Commerce Bancshares by 189.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,211 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 1,448 shares during the period. Wetherby Asset Management Inc. acquired a new position in Commerce Bancshares during the 1st quarter valued at about $201,000. Cigna Investments Inc. New acquired a new position in Commerce Bancshares during the 1st quarter valued at about $204,000. Segall Bryant & Hamill LLC acquired a new position in Commerce Bancshares during the 1st quarter valued at about $204,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Commerce Bancshares during the 1st quarter valued at about $305,000. 64.79% of the stock is owned by hedge funds and other institutional investors.
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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