Commerce Bancshares, Inc. (NASDAQ:CBSH) – Equities research analysts at Jefferies Group raised their Q2 2017 EPS estimates for shares of Commerce Bancshares in a note issued to investors on Wednesday. Jefferies Group analyst C. Haire now forecasts that the financial services provider will post earnings of $0.70 per share for the quarter, up from their previous estimate of $0.69. Jefferies Group currently has a “Hold” rating and a $61.00 target price on the stock.
Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings results on Thursday, April 13th. The financial services provider reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.03. Commerce Bancshares had a net margin of 23.43% and a return on equity of 11.76%. The business had revenue of $295.30 million for the quarter, compared to analysts’ expectations of $298.61 million. During the same period in the prior year, the firm earned $0.62 earnings per share. Commerce Bancshares’s revenue was up 4.4% compared to the same quarter last year.
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CBSH has been the topic of several other reports. Zacks Investment Research raised shares of Commerce Bancshares from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Tuesday, March 21st. BidaskClub raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Barclays PLC decreased their price target on shares of Commerce Bancshares from $55.00 to $54.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 11th. Keefe, Bruyette & Woods reaffirmed a “sell” rating and set a $46.00 price target on shares of Commerce Bancshares in a report on Wednesday, April 5th. Finally, Morgan Stanley lifted their price target on shares of Commerce Bancshares from $48.00 to $49.00 and gave the company an “underweight” rating in a report on Tuesday, June 6th. Three analysts have rated the stock with a sell rating and six have given a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $54.50.
Shares of Commerce Bancshares (NASDAQ CBSH) opened at 57.12 on Friday. The company has a market capitalization of $5.80 billion, a PE ratio of 21.37 and a beta of 0.81. Commerce Bancshares has a 1-year low of $43.56 and a 1-year high of $60.61. The stock’s 50 day moving average is $55.41 and its 200 day moving average is $56.46.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 26th. Shareholders of record on Friday, June 9th were issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Wednesday, June 7th. Commerce Bancshares’s payout ratio is 33.65%.
In other Commerce Bancshares news, insider Michael J. Petrie sold 1,379 shares of the business’s stock in a transaction that occurred on Thursday, April 20th. The shares were sold at an average price of $56.64, for a total transaction of $78,106.56. Following the sale, the insider now directly owns 14,191 shares of the company’s stock, valued at approximately $803,778.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Jonathan M. Kemper sold 36,979 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $54.10, for a total transaction of $2,000,563.90. Following the sale, the insider now directly owns 1,045,605 shares in the company, valued at $56,567,230.50. The disclosure for this sale can be found here. Insiders have sold a total of 66,167 shares of company stock worth $3,602,308 over the last three months. Insiders own 4.30% of the company’s stock.
A number of large investors have recently bought and sold shares of CBSH. Capstone Asset Management Co. raised its stake in Commerce Bancshares by 0.5% in the first quarter. Capstone Asset Management Co. now owns 7,220 shares of the financial services provider’s stock worth $405,000 after buying an additional 37 shares during the last quarter. Bank of The Ozarks raised its stake in Commerce Bancshares by 0.4% in the first quarter. Bank of The Ozarks now owns 20,027 shares of the financial services provider’s stock worth $1,125,000 after buying an additional 74 shares in the last quarter. Mosaic Family Wealth LLC raised its stake in Commerce Bancshares by 2.9% in the first quarter. Mosaic Family Wealth LLC now owns 3,116 shares of the financial services provider’s stock worth $175,000 after buying an additional 89 shares in the last quarter. WFG Advisors LP raised its stake in Commerce Bancshares by 2.8% in the first quarter. WFG Advisors LP now owns 3,939 shares of the financial services provider’s stock worth $221,000 after buying an additional 109 shares in the last quarter. Finally, World Asset Management Inc raised its stake in Commerce Bancshares by 2.1% in the first quarter. World Asset Management Inc now owns 5,418 shares of the financial services provider’s stock worth $304,000 after buying an additional 112 shares in the last quarter. 62.11% of the stock is currently owned by hedge funds and other institutional investors.
About Commerce Bancshares
Commerce Bancshares, Inc is a bank holding company of Commerce Bank (the Bank). The Bank is engaged in general banking business, providing a range of retail, mortgage banking, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.
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