Equities research analysts expect that Commerce Bancshares (NASDAQ:CBSH) will announce sales of $310.12 million for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Commerce Bancshares’ earnings. The lowest sales estimate is $306.83 million and the highest is $312.50 million. Commerce Bancshares reported sales of $295.34 million during the same quarter last year, which indicates a positive year over year growth rate of 5%. The company is scheduled to report its next earnings report before the market opens on Thursday, April 12th.
On average, analysts expect that Commerce Bancshares will report full-year sales of $310.12 million for the current year, with estimates ranging from $1.24 billion to $1.32 billion. For the next year, analysts forecast that the firm will report sales of $1.34 billion per share, with estimates ranging from $1.30 billion to $1.38 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Commerce Bancshares.
Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Thursday, January 18th. The financial services provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. Commerce Bancshares had a return on equity of 12.22% and a net margin of 25.27%. The company had revenue of $314.22 million during the quarter, compared to analysts’ expectations of $312.98 million.
In other news, Vice Chairman Jonathan M. Kemper sold 33,424 shares of the firm’s stock in a transaction dated Wednesday, March 14th. The stock was sold at an average price of $61.04, for a total transaction of $2,040,200.96. Following the sale, the insider now owns 1,059,102 shares of the company’s stock, valued at approximately $64,647,586.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sara E. Foster sold 3,361 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $58.69, for a total value of $197,257.09. Following the sale, the executive vice president now directly owns 50,898 shares in the company, valued at approximately $2,987,203.62. The disclosure for this sale can be found here. Insiders sold a total of 168,774 shares of company stock worth $9,878,981 in the last ninety days. 4.00% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Xact Kapitalforvaltning AB acquired a new stake in shares of Commerce Bancshares during the 4th quarter worth about $423,000. Paragon Capital Management LLC raised its position in shares of Commerce Bancshares by 5.0% during the 4th quarter. Paragon Capital Management LLC now owns 98,454 shares of the financial services provider’s stock worth $5,497,000 after acquiring an additional 4,687 shares in the last quarter. MetLife Investment Advisors LLC acquired a new stake in shares of Commerce Bancshares during the 4th quarter worth about $3,318,000. Municipal Employees Retirement System of Michigan raised its position in shares of Commerce Bancshares by 5.2% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 28,447 shares of the financial services provider’s stock worth $1,589,000 after acquiring an additional 1,404 shares in the last quarter. Finally, Glenmede Trust Co. NA raised its position in shares of Commerce Bancshares by 10.9% during the 4th quarter. Glenmede Trust Co. NA now owns 14,441 shares of the financial services provider’s stock worth $806,000 after acquiring an additional 1,420 shares in the last quarter. 62.75% of the stock is currently owned by institutional investors and hedge funds.
Commerce Bancshares stock traded down $1.41 during midday trading on Tuesday, reaching $58.95. 542,954 shares of the stock traded hands, compared to its average volume of 540,739. Commerce Bancshares has a 12-month low of $51.90 and a 12-month high of $61.88. The stock has a market capitalization of $6,301.28, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 2.20 and a beta of 0.69.
The business also recently declared a quarterly dividend, which was paid on Monday, March 26th. Shareholders of record on Friday, March 9th were given a $0.235 dividend. The ex-dividend date was Thursday, March 8th. This represents a $0.94 dividend on an annualized basis and a yield of 1.59%. This is a positive change from Commerce Bancshares’s previous quarterly dividend of $0.23. Commerce Bancshares’s dividend payout ratio (DPR) is currently 33.94%.
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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