Zacks: Analysts Anticipate Commerce Bancshares, Inc. (NASDAQ:CBSH) Will Post Earnings of $0.75 Per Share
Equities analysts expect Commerce Bancshares, Inc. (NASDAQ:CBSH) to report $0.75 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Commerce Bancshares’ earnings. The highest EPS estimate is $0.78 and the lowest is $0.73. Commerce Bancshares reported earnings per share of $0.65 during the same quarter last year, which indicates a positive year-over-year growth rate of 15.4%. The business is scheduled to report its next quarterly earnings report on Friday, October 13th.
According to Zacks, analysts expect that Commerce Bancshares will report full-year earnings of $2.94 per share for the current financial year, with EPS estimates ranging from $2.90 to $2.99. For the next fiscal year, analysts forecast that the business will report earnings of $3.10 per share, with EPS estimates ranging from $3.00 to $3.24. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover Commerce Bancshares.
Commerce Bancshares (NASDAQ:CBSH) last announced its quarterly earnings results on Thursday, July 13th. The financial services provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.05. Commerce Bancshares had a return on equity of 12.01% and a net margin of 23.79%. The company had revenue of $305.89 million during the quarter, compared to analysts’ expectations of $309.44 million. During the same quarter in the previous year, the firm earned $0.70 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year.
Several brokerages recently issued reports on CBSH. Piper Jaffray Companies cut their target price on shares of Commerce Bancshares from $55.00 to $52.00 and set a “neutral” rating for the company in a research note on Wednesday, April 19th. Barclays PLC raised their target price on shares of Commerce Bancshares from $54.00 to $55.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 19th. Stephens reiterated a “hold” rating on shares of Commerce Bancshares in a research note on Monday, April 17th. Morgan Stanley raised their target price on shares of Commerce Bancshares from $48.00 to $49.00 and gave the company an “underweight” rating in a research note on Tuesday, June 6th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $61.00 target price on shares of Commerce Bancshares in a research note on Tuesday, April 4th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. Commerce Bancshares currently has an average rating of “Hold” and a consensus target price of $55.00.
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In other Commerce Bancshares news, insider Charles G. Kim sold 3,712 shares of the business’s stock in a transaction on Friday, April 28th. The shares were sold at an average price of $55.31, for a total transaction of $205,310.72. Following the sale, the insider now owns 80,475 shares of the company’s stock, valued at $4,451,072.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Jonathan M. Kemper sold 36,979 shares of the business’s stock in a transaction 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 approximately $56,567,230.50. The disclosure for this sale can be found here. Insiders sold 45,174 shares of company stock worth $2,457,325 over the last three months. 4.30% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. raised its position in shares of Commerce Bancshares by 67.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,173 shares of the financial services provider’s stock worth $185,000 after buying an additional 1,273 shares during the period. Tudor Investment Corp Et Al purchased a new position in Commerce Bancshares during the fourth quarter valued at about $206,000. Thrivent Financial for Lutherans raised its position in Commerce Bancshares by 15.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 15,001 shares of the financial services provider’s stock valued at $867,000 after buying an additional 1,981 shares during the last quarter. Quadrature Capital Ltd purchased a new position in Commerce Bancshares during the fourth quarter valued at about $680,000. Finally, Teachers Advisors LLC raised its position in Commerce Bancshares by 23.3% in the fourth quarter. Teachers Advisors LLC now owns 110,673 shares of the financial services provider’s stock valued at $6,398,000 after buying an additional 20,944 shares during the last quarter. Institutional investors own 62.05% of the company’s stock.
Commerce Bancshares (NASDAQ CBSH) traded up 0.75% during trading on Monday, hitting $58.05. The company had a trading volume of 18,523 shares. Commerce Bancshares has a one year low of $44.27 and a one year high of $60.61. The stock has a market capitalization of $5.90 billion, a PE ratio of 21.04 and a beta of 0.81. The stock has a 50-day moving average of $56.59 and a 200-day moving average of $56.39.
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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