Wall Street brokerages forecast that Commerce Bancshares, Inc. (NASDAQ:CBSH) will post earnings per share of $0.94 for the current quarter, according to Zacks. Five analysts have made estimates for Commerce Bancshares’ earnings. The highest EPS estimate is $0.99 and the lowest is $0.89. Commerce Bancshares posted earnings per share of $0.96 in the same quarter last year, which suggests a negative year-over-year growth rate of 2.1%. The company is scheduled to announce its next quarterly earnings results before the market opens on Tuesday, July 16th.
On average, analysts expect that Commerce Bancshares will report full-year earnings of $3.65 per share for the current fiscal year, with EPS estimates ranging from $3.50 to $3.72. For the next financial year, analysts expect that the firm will report earnings of $3.71 per share, with EPS estimates ranging from $3.55 to $3.98. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Commerce Bancshares.
Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.02. Commerce Bancshares had a net margin of 30.39% and a return on equity of 15.65%. The business had revenue of $338.90 million during the quarter, compared to analysts’ expectations of $339.94 million. During the same period in the previous year, the company earned $0.96 earnings per share. Commerce Bancshares’s revenue for the quarter was up 4.4% on a year-over-year basis.
A number of research analysts have issued reports on CBSH shares. Raymond James downgraded shares of First Midwest Bancorp to a “hold” rating in a research report on Monday, July 8th. DA Davidson decreased their price target on shares of Commerce Bancshares to $60.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Zacks Investment Research raised Eutelsat Communications from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective for the company in a report on Wednesday, June 12th. BidaskClub raised Zai Lab from a “buy” rating to a “strong-buy” rating in a report on Friday, June 28th. Finally, Stephens started coverage on Falcon Minerals in a research report on Thursday, April 11th. They set an “overweight” rating and a $12.00 price objective on the stock. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Commerce Bancshares presently has an average rating of “Hold” and a consensus target price of $58.91.
Commerce Bancshares stock traded up $0.37 on Thursday, hitting $58.54. The company’s stock had a trading volume of 723,121 shares, compared to its average volume of 432,546. Commerce Bancshares has a one year low of $53.40 and a one year high of $72.55. The firm has a fifty day simple moving average of $58.89. The stock has a market capitalization of $6.55 billion, a price-to-earnings ratio of 15.52, a P/E/G ratio of 2.03 and a beta of 0.74.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Friday, June 7th were paid a $0.26 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $1.04 dividend on an annualized basis and a yield of 1.78%. Commerce Bancshares’s dividend payout ratio is currently 27.51%.
In related news, insider John K. Handy sold 3,541 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.79, for a total transaction of $218,798.39. Following the transaction, the insider now directly owns 35,251 shares in the company, valued at approximately $2,178,159.29. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 3.60% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Gemmer Asset Management LLC boosted its holdings in shares of Commerce Bancshares by 79.4% in the 1st quarter. Gemmer Asset Management LLC now owns 452 shares of the financial services provider’s stock valued at $26,000 after buying an additional 200 shares during the last quarter. CX Institutional bought a new stake in Commerce Bancshares during the first quarter worth approximately $28,000. O Shaughnessy Asset Management LLC purchased a new stake in shares of Commerce Bancshares during the 4th quarter valued at approximately $48,000. NumerixS Investment Technologies Inc increased its holdings in Commerce Bancshares by 14.4% in the 4th quarter. NumerixS Investment Technologies Inc now owns 1,716 shares of the financial services provider’s stock valued at $95,000 after purchasing an additional 216 shares during the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new position in shares of Commerce Bancshares in the first quarter worth $141,000. 63.08% of the stock is owned by institutional investors.
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.
Further Reading: P/E Growth (PEG)
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