Commerce Bancshares, Inc. (CBSH) Expected to Announce Earnings of $0.93 Per Share

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Wall Street analysts expect that Commerce Bancshares, Inc. (NASDAQ:CBSH) will report earnings of $0.93 per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Commerce Bancshares’ earnings, with the highest EPS estimate coming in at $0.99 and the lowest estimate coming in at $0.89. Commerce Bancshares posted earnings of $0.96 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 3.1%. The firm is expected to announce its next earnings report on Thursday, July 11th.

On average, analysts expect that Commerce Bancshares will report full-year earnings of $3.76 per share for the current year, with EPS estimates ranging from $3.59 to $3.95. For the next financial year, analysts forecast that the firm will post earnings of $3.84 per share, with EPS estimates ranging from $3.55 to $4.12. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Commerce Bancshares.

Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Thursday, April 11th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.06). Commerce Bancshares had a return on equity of 15.95% and a net margin of 30.39%. The firm had revenue of $324.73 million during the quarter, compared to the consensus estimate of $333.99 million.

A number of analysts have issued reports on CBSH shares. BidaskClub raised Commerce Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, January 31st. Stephens reaffirmed a “hold” rating and issued a $65.00 price objective on shares of Commerce Bancshares in a research note on Wednesday, December 19th. Raymond James raised Commerce Bancshares from an “underperform” rating to a “market perform” rating and set a $60.43 price objective on the stock in a research note on Friday, January 18th. They noted that the move was a valuation call. Barclays reaffirmed a “hold” rating and issued a $65.00 price objective on shares of Commerce Bancshares in a research note on Friday, January 11th. Finally, Zacks Investment Research downgraded Commerce Bancshares from a “buy” rating to a “hold” rating in a research note on Thursday, April 4th. Three research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $62.68.

NASDAQ:CBSH traded down $0.13 during trading hours on Wednesday, reaching $59.15. The stock had a trading volume of 9,568 shares, compared to its average volume of 451,297. Commerce Bancshares has a 52 week low of $53.40 and a 52 week high of $72.55. The company has a market cap of $6.46 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 3.53 and a beta of 0.74.

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were issued a $0.26 dividend. This is a boost from Commerce Bancshares’s previous quarterly dividend of $0.24. The ex-dividend date was Thursday, March 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.76%. Commerce Bancshares’s payout ratio is 27.51%.

In other news, Director David W. Kemper sold 20,000 shares of Commerce Bancshares stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $59.81, for a total value of $1,196,200.00. Following the completion of the transaction, the director now owns 1,319,624 shares in the company, valued at approximately $78,926,711.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Patricia R. Kellerhals sold 851 shares of Commerce Bancshares stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $61.17, for a total value of $52,055.67. Following the completion of the transaction, the insider now owns 6,127 shares of the company’s stock, valued at approximately $374,788.59. The disclosure for this sale can be found here. In the last quarter, insiders sold 94,093 shares of company stock valued at $5,735,892. Company insiders own 3.60% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Clarus Wealth Advisors boosted its holdings in Commerce Bancshares by 4.9% during the 4th quarter. Clarus Wealth Advisors now owns 3,516 shares of the financial services provider’s stock valued at $198,000 after acquiring an additional 165 shares during the period. Segall Bryant & Hamill LLC boosted its holdings in Commerce Bancshares by 4.9% during the 4th quarter. Segall Bryant & Hamill LLC now owns 3,573 shares of the financial services provider’s stock valued at $201,000 after acquiring an additional 168 shares during the period. Commonwealth Equity Services LLC raised its position in Commerce Bancshares by 1.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 12,503 shares of the financial services provider’s stock valued at $704,000 after purchasing an additional 169 shares in the last quarter. Wesbanco Bank Inc. raised its position in Commerce Bancshares by 2.8% during the 4th quarter. Wesbanco Bank Inc. now owns 6,565 shares of the financial services provider’s stock valued at $370,000 after purchasing an additional 177 shares in the last quarter. Finally, Palisades Hudson Asset Management L.P. raised its position in Commerce Bancshares by 5.0% during the 4th quarter. Palisades Hudson Asset Management L.P. now owns 4,019 shares of the financial services provider’s stock valued at $227,000 after purchasing an additional 191 shares in the last quarter. Hedge funds and other institutional investors own 64.17% of the company’s stock.

About Commerce Bancshares

Commerce Bancshares, Inc operates as the bank 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 banking services.

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