Analysts expect Commerce Bancshares, Inc. (NASDAQ:CBSH) to announce $0.93 earnings per share for the current quarter, according to Zacks. Four analysts have issued estimates for Commerce Bancshares’ earnings, with the highest EPS estimate coming in at $0.94 and the lowest estimate coming in at $0.92. Commerce Bancshares posted earnings of $0.98 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 5.1%. The company is scheduled to issue its next earnings report before the market opens on Wednesday, October 16th.

According to Zacks, analysts expect that Commerce Bancshares will report full-year earnings of $3.66 per share for the current financial year, with EPS estimates ranging from $3.62 to $3.70. For the next fiscal year, analysts expect that the company will report earnings of $3.62 per share, with EPS estimates ranging from $3.45 to $3.75. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Commerce Bancshares.

Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.02. Commerce Bancshares had a return on equity of 15.02% and a net margin of 29.90%. The firm had revenue of $338.90 million for the quarter, compared to analysts’ expectations of $339.94 million. During the same period last year, the firm earned $0.96 earnings per share. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year.

Several analysts have commented on CBSH shares. BidaskClub upgraded shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. DA Davidson raised their price objective on shares of Commerce Bancshares to $62.00 and gave the stock a “neutral” rating in a report on Wednesday, July 17th. Raymond James lowered shares of Commerce Bancshares from a “market perform” rating to an “underperform” rating in a report on Monday, July 8th. Stephens started coverage on shares of Commerce Bancshares in a report on Monday, September 16th. They issued a “weight” rating and a $59.00 price objective for the company. Finally, Morgan Stanley lowered their price objective on shares of Commerce Bancshares from $56.00 to $55.00 and set an “underweight” rating for the company in a report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $58.57.

In other news, CEO John W. Kemper sold 2,077 shares of Commerce Bancshares stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $61.45, for a total transaction of $127,631.65. Following the completion of the transaction, the chief executive officer now directly owns 152,280 shares in the company, valued at $9,357,606. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jeffrey M. Burik sold 3,200 shares of Commerce Bancshares stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $60.96, for a total transaction of $195,072.00. Following the transaction, the senior vice president now owns 17,120 shares of the company’s stock, valued at $1,043,635.20. The disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Clarus Wealth Advisors grew its position in Commerce Bancshares by 88.8% in the 3rd quarter. Clarus Wealth Advisors now owns 7,353 shares of the financial services provider’s stock worth $446,000 after purchasing an additional 3,459 shares during the period. North Star Investment Management Corp. grew its position in Commerce Bancshares by 481.9% in the 3rd quarter. North Star Investment Management Corp. now owns 50,285 shares of the financial services provider’s stock worth $3,050,000 after purchasing an additional 41,643 shares during the period. River & Mercantile Asset Management LLP bought a new stake in Commerce Bancshares in the 2nd quarter worth approximately $1,279,000. Atria Investments LLC bought a new stake in Commerce Bancshares in the 2nd quarter worth approximately $206,000. Finally, RFG Advisory LLC grew its position in Commerce Bancshares by 2.2% in the 2nd quarter. RFG Advisory LLC now owns 10,381 shares of the financial services provider’s stock worth $620,000 after purchasing an additional 226 shares during the period. Hedge funds and other institutional investors own 65.80% of the company’s stock.

Shares of NASDAQ CBSH traded up $0.87 during trading hours on Thursday, hitting $59.73. The company’s stock had a trading volume of 740,389 shares, compared to its average volume of 505,940. The stock has a market cap of $6.46 billion, a price-to-earnings ratio of 15.80, a P/E/G ratio of 5.37 and a beta of 0.75. Commerce Bancshares has a 12 month low of $53.40 and a 12 month high of $67.94. The business has a 50-day simple moving average of $58.87 and a 200-day simple moving average of $58.99.

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 6th were issued a $0.26 dividend. The ex-dividend date was Thursday, September 5th. This represents a $1.04 annualized dividend and a yield of 1.74%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 27.51%.

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.

See Also: Hedge Funds

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Earnings History and Estimates for Commerce Bancshares (NASDAQ:CBSH)

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