Commerce Bancshares, Inc. (CBSH) Announces Earnings Results, Misses Expectations By $0.03 EPS

Commerce Bancshares, Inc. (NASDAQ:CBSH) posted its earnings results on Thursday. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.03), Bloomberg Earnings reports. The business had revenue of $304.83 million for the quarter, compared to analyst estimates of $317.28 million. Commerce Bancshares had a return on equity of 12.01% and a net margin of 23.79%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the company posted $0.68 EPS.

Shares of Commerce Bancshares (NASDAQ CBSH) opened at 56.68 on Friday. The firm has a 50-day moving average of $55.98 and a 200 day moving average of $55.96. The firm has a market cap of $5.76 billion, a P/E ratio of 20.54 and a beta of 0.83. Commerce Bancshares has a 12 month low of $45.37 and a 12 month high of $60.61.

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 25th. Shareholders of record on Friday, September 8th were given a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Thursday, September 7th. Commerce Bancshares’s dividend payout ratio (DPR) is 32.64%.

In related news, Chairman David W. Kemper sold 10,132 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $57.83, for a total value of $585,933.56. Following the completion of the sale, the chairman now directly owns 1,270,757 shares in the company, valued at approximately $73,487,877.31. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John R. Capps sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $54.82, for a total value of $548,200.00. Following the completion of the sale, the director now owns 12,828 shares of the company’s stock, valued at $703,230.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,819 shares of company stock valued at $1,174,728. Corporate insiders own 4.30% of the company’s stock.

CBSH has been the subject of a number of research analyst reports. BidaskClub downgraded shares of Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Zacks Investment Research raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, July 10th. Barclays PLC reissued an “equal weight” rating and set a $54.00 target price (down previously from $55.00) on shares of Commerce Bancshares in a research report on Wednesday, July 12th. Wells Fargo & Company reissued a “market perform” rating and set a $53.00 target price (up previously from $51.00) on shares of Commerce Bancshares in a research report on Friday, July 14th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $61.00 target price on shares of Commerce Bancshares in a research report on Friday, July 14th. Five investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. The company has an average rating of “Hold” and a consensus price target of $56.63.

TRADEMARK VIOLATION WARNING: “Commerce Bancshares, Inc. (CBSH) Announces Earnings Results, Misses Expectations By $0.03 EPS” was first published by Ticker Report and is the property of of Ticker Report. If you are accessing this article on another domain, it was illegally copied and republished in violation of United States & international copyright and trademark legislation. The correct version of this article can be read at https://www.tickerreport.com/banking-finance/2956932/commerce-bancshares-inc-cbsh-announces-earnings-results-misses-expectations-by-0-03-eps.html.

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, 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.

Earnings History for Commerce Bancshares (NASDAQ:CBSH)

Receive News & Ratings for Commerce Bancshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commerce Bancshares Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.