Commerce Bancshares, Inc. (NASDAQ:CBSH) Expected to Announce Earnings of $0.99 Per Share

Analysts forecast that Commerce Bancshares, Inc. (NASDAQ:CBSH) will post earnings of $0.99 per share for the current quarter, Zacks reports. Three analysts have made estimates for Commerce Bancshares’ earnings. The highest EPS estimate is $1.05 and the lowest is $0.93. Commerce Bancshares reported earnings per share of $1.06 during the same quarter last year, which suggests a negative year over year growth rate of 6.6%. The business is scheduled to report its next earnings report before the market opens on Tuesday, October 19th.

On average, analysts expect that Commerce Bancshares will report full year earnings of $4.38 per share for the current year, with EPS estimates ranging from $4.26 to $4.52. For the next fiscal year, analysts anticipate that the business will report earnings of $3.53 per share, with EPS estimates ranging from $3.35 to $3.89. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Commerce Bancshares.

Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Wednesday, July 21st. The financial services provider reported $1.38 EPS for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.36. Commerce Bancshares had a net margin of 39.73% and a return on equity of 16.44%. The business had revenue of $347.13 million during the quarter, compared to the consensus estimate of $350.54 million. During the same period in the previous year, the company posted $0.30 earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis.

Several research firms recently commented on CBSH. Zacks Investment Research downgraded Commerce Bancshares from a “buy” rating to a “hold” rating and set a $82.00 price objective for the company. in a research note on Monday, June 7th. Wells Fargo & Company increased their price target on Commerce Bancshares from $56.00 to $60.00 and gave the stock an “underweight” rating in a report on Friday, July 23rd. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $69.20.

Shares of NASDAQ:CBSH traded down $0.13 during midday trading on Tuesday, reaching $66.03. 331,478 shares of the company’s stock traded hands, compared to its average volume of 420,773. Commerce Bancshares has a 1 year low of $50.50 and a 1 year high of $83.06. The company has a market cap of $7.71 billion, a P/E ratio of 14.20 and a beta of 0.97. The company has a fifty day simple moving average of $70.20 and a two-hundred day simple moving average of $74.54.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 23rd. Investors of record on Tuesday, September 7th will be issued a $0.2625 dividend. This represents a $1.05 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Friday, September 3rd. Commerce Bancshares’s dividend payout ratio is currently 36.08%.

A number of large investors have recently added to or reduced their stakes in CBSH. AlphaCrest Capital Management LLC raised its position in shares of Commerce Bancshares by 36.5% during the 1st quarter. AlphaCrest Capital Management LLC now owns 26,211 shares of the financial services provider’s stock worth $2,008,000 after purchasing an additional 7,009 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in Commerce Bancshares during the 1st quarter valued at $4,616,000. Envestnet Asset Management Inc. boosted its stake in Commerce Bancshares by 7.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 104,636 shares of the financial services provider’s stock valued at $7,802,000 after purchasing an additional 7,018 shares in the last quarter. Isthmus Partners LLC bought a new position in Commerce Bancshares during the 2nd quarter valued at $130,000. Finally, Aviva PLC boosted its stake in shares of Commerce Bancshares by 0.9% during the 1st quarter. Aviva PLC now owns 35,148 shares of the financial services provider’s stock worth $2,693,000 after acquiring an additional 310 shares in the last quarter. 66.18% of the stock is currently owned by institutional investors.

About Commerce Bancshares

Commerce Bancshares, Inc operates as a bank holding company for Commerce Bank. It provides general banking services, such as retail, corporate, investment, trust, and asset management products and services to individuals and businesses. The firm operates through the following business segments: Consumer, Commercial and Wealth.

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

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