Analysts expect that Commerce Bancshares, Inc. (NASDAQ:CBSH) will report $312.74 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Commerce Bancshares’ earnings, with the highest sales estimate coming in at $319.00 million and the lowest estimate coming in at $306.35 million. Commerce Bancshares posted sales of $290.56 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.6%. The company is scheduled to report its next earnings report on Friday, October 13th.

On average, analysts expect that Commerce Bancshares will report full-year sales of $312.74 million for the current financial year, with estimates ranging from $1.22 billion to $1.27 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.30 billion per share, with estimates ranging from $1.27 billion to $1.34 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow 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 (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.05. The business had revenue of $305.89 million during the quarter, compared to the consensus estimate of $309.44 million. Commerce Bancshares had a net margin of 23.79% and a return on equity of 12.01%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.70 EPS.

Several brokerages have recently commented on CBSH. Piper Jaffray Companies reduced their target price on 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 lifted their target price on Commerce Bancshares from $54.00 to $55.00 and gave the stock 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 lifted their target price on Commerce Bancshares from $48.00 to $49.00 and gave the stock an “underweight” rating in a research note on Tuesday, June 6th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $61.00 target price on shares of Commerce Bancshares in a research note on Tuesday, April 4th. Three equities 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. The stock presently has a consensus rating of “Hold” and a consensus target price of $55.00.

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Shares of Commerce Bancshares (CBSH) traded down 1.47% during midday trading on Wednesday, reaching $58.24. 81,111 shares of the company were exchanged. Commerce Bancshares has a 52-week low of $44.27 and a 52-week high of $60.61. The company has a market capitalization of $5.92 billion, a PE ratio of 21.11 and a beta of 0.81. The firm’s 50 day moving average is $56.78 and its 200-day moving average is $56.38.

In related news, insider Charles G. Kim sold 3,712 shares of the business’s stock in a transaction on Friday, April 28th. The stock was sold at an average price of $55.31, for a total value of $205,310.72. Following the completion of the sale, the insider now directly owns 80,475 shares in the company, valued at approximately $4,451,072.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Jonathan M. Kemper sold 36,979 shares of the business’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $54.10, for a total value of $2,000,563.90. Following the completion of the sale, the insider now owns 1,045,605 shares of the company’s stock, valued at $56,567,230.50. The disclosure for this sale can be found here. Insiders sold a total of 51,124 shares of company stock valued at $2,808,146 over the last 90 days. 4.30% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Citizens Financial Group Inc. RI purchased a new stake in Commerce Bancshares during the first quarter valued at about $119,000. Mosaic Family Wealth LLC increased 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 valued at $175,000 after buying an additional 89 shares during the period. Envestnet Asset Management Inc. increased its stake in 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 valued at $185,000 after buying an additional 1,273 shares during the period. WFG Advisors LP increased 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 valued at $221,000 after buying an additional 109 shares during the period. Finally, Parametrica Management Ltd purchased a new stake in Commerce Bancshares during the first quarter valued at about $233,000. Institutional investors and hedge funds own 62.05% of the company’s stock.

Commerce Bancshares Company Profile

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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Earnings History and Estimates for Commerce Bancshares (NASDAQ:CBSH)

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