Commerce Bancshares Inc. Expected to Post Q4 2016 Earnings of $0.72 Per Share (CBSH)
Commerce Bancshares Inc. (NASDAQ:CBSH) – Research analysts at Jefferies Group dropped their Q4 2016 earnings per share (EPS) estimates for shares of Commerce Bancshares in a report issued on Tuesday. Jefferies Group analyst E. Harmon now expects that the brokerage will earn $0.72 per share for the quarter, down from their previous forecast of $0.73. Jefferies Group currently has a “Hold” rating on the stock. Jefferies Group also issued estimates for Commerce Bancshares’ Q1 2017 earnings at $0.69 EPS, Q2 2017 earnings at $0.74 EPS, Q3 2017 earnings at $0.76 EPS and Q4 2017 earnings at $0.81 EPS.
A number of other brokerages also recently commented on CBSH. Barclays PLC increased their price target on shares of Commerce Bancshares from $45.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday. Zacks Investment Research raised shares of Commerce Bancshares from a “sell” rating to a “hold” rating in a report on Thursday. Morgan Stanley downgraded shares of Commerce Bancshares from an “equal weight” rating to an “underweight” rating and set a $45.00 price target for the company. in a report on Tuesday, September 20th. Finally, Piper Jaffray Cos. began coverage on shares of Commerce Bancshares in a report on Monday, July 11th. They issued a “neutral” rating and a $43.50 price target for the company. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The company currently has an average rating of “Hold” and an average target price of $45.75.
Shares of Commerce Bancshares (NASDAQ:CBSH) traded down 2.08% on Thursday, reaching $49.35. The company had a trading volume of 428,266 shares. Commerce Bancshares has a 52 week low of $37.44 and a 52 week high of $51.30. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 18.91 and a beta of 0.74. The stock’s 50 day moving average is $49.58 and its 200 day moving average is $47.83.
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Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Wednesday, July 13th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Commerce Bancshares had a return on equity of 11.58% and a net margin of 23.03%. The company had revenue of $288.40 million for the quarter, compared to the consensus estimate of $295.65 million. During the same quarter in the previous year, the business earned $0.71 EPS. Commerce Bancshares’s revenue was up 3.9% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CBSH. JPMorgan Chase & Co. boosted its position in Commerce Bancshares by 142.8% in the second quarter. JPMorgan Chase & Co. now owns 555,447 shares of the financial services provider’s stock worth $26,606,000 after buying an additional 326,694 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Commerce Bancshares by 88.0% in the second quarter. Principal Financial Group Inc. now owns 518,053 shares of the financial services provider’s stock worth $24,827,000 after buying an additional 242,451 shares in the last quarter. Vanguard Group Inc. boosted its stake in Commerce Bancshares by 3.3% in the second quarter. Vanguard Group Inc. now owns 6,706,151 shares of the financial services provider’s stock worth $321,225,000 after buying an additional 217,230 shares in the last quarter. Martingale Asset Management L P boosted its stake in Commerce Bancshares by 76.5% in the second quarter. Martingale Asset Management L P now owns 447,072 shares of the financial services provider’s stock worth $21,416,000 after buying an additional 193,807 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in Commerce Bancshares during the second quarter worth approximately $7,771,000. 60.86% of the stock is owned by institutional investors.
In other Commerce Bancshares news, Vice Chairman Jonathan M. Kemper sold 50,000 shares of Commerce Bancshares stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $47.22, for a total value of $2,361,000.00. Following the completion of the transaction, the insider now owns 1,242,407 shares of the company’s stock, valued at $58,666,458.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charles G. Kim sold 5,000 shares of Commerce Bancshares stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $48.04, for a total transaction of $240,200.00. Following the completion of the transaction, the insider now directly owns 82,551 shares of the company’s stock, valued at approximately $3,965,750.04. The disclosure for this sale can be found here. Corporate insiders own 4.60% of the company’s stock.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 26th. Investors of record on Friday, September 9th were issued a dividend of $0.225 per share. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $0.90 annualized dividend and a dividend yield of 1.79%. Commerce Bancshares’s dividend payout ratio (DPR) is presently 34.50%.
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.
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