Commerce Bancshares Inc. (CBSH) Issues Earnings Results

Commerce Bancshares Inc. (NASDAQ:CBSH) announced its quarterly earnings results on Friday. The financial services provider reported $0.68 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.70 by $0.02. The company earned $290.60 million during the quarter, compared to analyst estimates of $296.49 million. Commerce Bancshares had a net margin of 23.03% and a return on equity of 11.58%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.63 EPS.

Shares of Commerce Bancshares (NASDAQ:CBSH) opened at 48.43 on Monday. The stock has a market cap of $4.68 billion, a P/E ratio of 18.56 and a beta of 0.74. The company’s 50-day moving average is $49.56 and its 200 day moving average is $47.87. Commerce Bancshares has a 1-year low of $37.44 and a 1-year high of $51.30.

Earnings History for Commerce Bancshares (NASDAQ:CBSH)

The company also recently declared a quarterly dividend, which was paid on Monday, September 26th. Investors of record on Friday, September 9th were paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.86%. The ex-dividend date was Wednesday, September 7th. Commerce Bancshares’s dividend payout ratio (DPR) is 33.83%.

A number of equities analysts have weighed in on CBSH shares. Barclays PLC lifted their price target on shares of Commerce Bancshares from $45.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, October 11th. Zacks Investment Research upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Monday, September 26th. Jefferies Group restated a “hold” rating and set a $48.00 target price on shares of Commerce Bancshares in a report on Thursday, July 7th. Piper Jaffray Cos. assumed coverage on shares of Commerce Bancshares in a report on Monday, July 11th. They set a “neutral” rating and a $43.50 target price on the stock. Finally, Morgan Stanley lowered shares of Commerce Bancshares from an “equal weight” rating to an “underweight” rating and set a $45.00 target price on the stock. in a report on Tuesday, September 20th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. Commerce Bancshares has an average rating of “Hold” and an average target price of $45.75.

In other Commerce Bancshares news, Vice Chairman Jonathan M. Kemper sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $47.22, for a total value of $2,361,000.00. Following the transaction, the insider now owns 1,242,407 shares in the company, valued at approximately $58,666,458.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider V Raymond Stranghoener sold 4,964 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $48.49, for a total transaction of $240,704.36. Following the completion of the transaction, the insider now owns 80,869 shares in the company, valued at approximately $3,921,337.81. The disclosure for this sale can be found here. Insiders own 4.60% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Walleye Trading LLC bought a new position in Commerce Bancshares during the second quarter valued at $101,000. Pacad Investment Ltd. bought a new position in Commerce Bancshares during the second quarter valued at $120,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Commerce Bancshares by 28.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,547 shares of the financial services provider’s stock valued at $122,000 after buying an additional 566 shares in the last quarter. WFG Advisors LP raised its position in Commerce Bancshares by 0.5% in the second quarter. WFG Advisors LP now owns 3,725 shares of the financial services provider’s stock valued at $178,000 after buying an additional 20 shares in the last quarter. Finally, Advisor Group Inc. bought a new position in Commerce Bancshares during the second quarter valued at $183,000. Hedge funds and other institutional investors own 60.86% of the company’s stock.

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, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.

5 Day Chart for NASDAQ:CBSH

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