FY2016 Earnings Forecast for Commerce Bancshares Inc. Issued By Jefferies Group (CBSH)
Commerce Bancshares Inc. (NASDAQ:CBSH) – Stock analysts at Jefferies Group decreased their FY2016 earnings estimates for Commerce Bancshares in a research report issued to clients and investors on Friday. Jefferies Group analyst E. Harmon now anticipates that the firm will post earnings per share of $2.79 for the year, down from their previous estimate of $2.80. Jefferies Group currently has a “Hold” rating on the stock. Jefferies Group also issued estimates for Commerce Bancshares’ FY2017 earnings at $3.00 EPS and FY2018 earnings at $3.20 EPS.
Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings data on Wednesday, July 13th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. The business earned $288.40 million during the quarter, compared to analysts’ expectations of $295.65 million. Commerce Bancshares had a return on equity of 11.58% and a net margin of 23.03%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 EPS.
Several other analysts also recently issued reports on the company. Piper Jaffray Cos. initiated coverage on Commerce Bancshares in a research report on Monday, July 11th. They issued a “neutral” rating and a $43.50 price objective on the stock. Morgan Stanley downgraded Commerce Bancshares from an “equal weight” rating to an “underweight” rating and set a $45.00 price objective on the stock. in a research report on Tuesday, September 20th. Finally, Zacks Investment Research downgraded Commerce Bancshares from a “hold” rating to a “sell” rating in a research report on Monday, September 19th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The company has a consensus rating of “Hold” and an average price target of $45.25.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/10/fy2016-earnings-forecast-for-commerce-bancshares-inc-issued-by-jefferies-group-cbsh.html
Commerce Bancshares (NASDAQ:CBSH) opened at 50.09 on Monday. The stock has a 50 day moving average price of $49.47 and a 200 day moving average price of $47.72. Commerce Bancshares has a 52 week low of $37.44 and a 52 week high of $51.30. The stock has a market cap of $4.84 billion, a PE ratio of 19.19 and a beta of 0.74.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 26th. Investors of record on Friday, September 9th were paid a $0.225 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $0.90 annualized dividend and a yield of 1.80%. Commerce Bancshares’s payout ratio is currently 34.50%.
In other Commerce Bancshares news, Vice Chairman Jonathan M. Kemper sold 50,000 shares of the company’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $50.07, for a total transaction of $2,503,500.00. Following the completion of the sale, the insider now directly owns 1,192,407 shares in the company, valued at $59,703,818.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charles G. Kim sold 5,000 shares of the company’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $48.04, for a total value of $240,200.00. Following the sale, the insider now owns 82,551 shares of the company’s stock, valued at $3,965,750.04. The disclosure for this sale can be found here. 4.60% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Glenmede Trust Co. NA raised its stake in shares of Commerce Bancshares by 17.7% in the first quarter. Glenmede Trust Co. NA now owns 11,462 shares of the financial services provider’s stock valued at $515,000 after buying an additional 1,725 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Commerce Bancshares by 46.1% in the first quarter. TIAA CREF Investment Management LLC now owns 267,697 shares of the financial services provider’s stock valued at $12,033,000 after buying an additional 84,407 shares in the last quarter. Teachers Advisors Inc. raised its stake in shares of Commerce Bancshares by 34.4% in the first quarter. Teachers Advisors Inc. now owns 121,887 shares of the financial services provider’s stock valued at $5,479,000 after buying an additional 31,184 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Commerce Bancshares by 3.0% in the first quarter. Prudential Financial Inc. now owns 74,699 shares of the financial services provider’s stock valued at $3,358,000 after buying an additional 2,200 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of Commerce Bancshares by 20.8% in the first quarter. BlackRock Inc. now owns 105,081 shares of the financial services provider’s stock valued at $4,723,000 after buying an additional 18,059 shares in the last quarter. Institutional investors own 60.86% of the company’s stock.
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, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.
Receive News & Ratings for Commerce Bancshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commerce Bancshares Inc. and related companies with MarketBeat.com's FREE daily email newsletter.