Wall Street brokerages expect Commerce Bancshares, Inc. (NASDAQ:CBSH) to announce $335.14 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Commerce Bancshares’ earnings, with estimates ranging from $329.10 million to $341.44 million. Commerce Bancshares posted sales of $345.31 million during the same quarter last year, which suggests a negative year over year growth rate of 2.9%. The business is expected to announce its next quarterly earnings results on Thursday, January 16th.
On average, analysts expect that Commerce Bancshares will report full year sales of $1.34 billion for the current fiscal year, with estimates ranging from $1.33 billion to $1.35 billion. For the next year, analysts anticipate that the business will report sales of $1.36 billion, with estimates ranging from $1.33 billion to $1.39 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Commerce Bancshares.
Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.06. The company had revenue of $336.30 million during the quarter, compared to the consensus estimate of $337.31 million. Commerce Bancshares had a return on equity of 14.52% and a net margin of 29.34%. The firm’s revenue was down .8% on a year-over-year basis. During the same period in the previous year, the company posted $1.03 EPS.
Shares of NASDAQ:CBSH traded up $0.48 during mid-day trading on Friday, reaching $62.78. 408,698 shares of the company traded hands, compared to its average volume of 558,555. The company’s 50 day moving average price is $59.54 and its 200-day moving average price is $59.10. The firm has a market cap of $6.89 billion, a PE ratio of 16.61, a PEG ratio of 5.65 and a beta of 0.75. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.73 and a quick ratio of 0.71. Commerce Bancshares has a 52 week low of $53.40 and a 52 week high of $67.94.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 6th were paid a $0.26 dividend. The ex-dividend date was Thursday, September 5th. This represents a $1.04 annualized dividend and a yield of 1.66%. Commerce Bancshares’s payout ratio is 27.51%.
In other Commerce Bancshares news, SVP Jeffrey M. Burik sold 3,200 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $60.96, for a total value of $195,072.00. Following the completion of the transaction, the senior vice president now directly owns 17,120 shares in the company, valued at approximately $1,043,635.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John W. Kemper sold 2,077 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $61.45, for a total value of $127,631.65. Following the completion of the transaction, the chief executive officer now owns 152,280 shares of the company’s stock, valued at $9,357,606. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Nomura Asset Management Co. Ltd. purchased a new stake in shares of Commerce Bancshares during the 2nd quarter worth approximately $35,000. Meeder Asset Management Inc. raised its holdings in shares of Commerce Bancshares by 217.0% during the 3rd quarter. Meeder Asset Management Inc. now owns 821 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 562 shares in the last quarter. Synovus Financial Corp purchased a new stake in shares of Commerce Bancshares during the 2nd quarter worth approximately $49,000. Captrust Financial Advisors purchased a new stake in shares of Commerce Bancshares during the 2nd quarter worth approximately $50,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Commerce Bancshares during the 2nd quarter worth approximately $60,000. Institutional investors and hedge funds own 65.84% of the company’s stock.
Commerce Bancshares Company Profile
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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