Wall Street analysts forecast that Commerce Bancshares, Inc. (NASDAQ:CBSH) will report sales of $312.74 million for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Commerce Bancshares’ earnings, with estimates ranging from $306.35 million to $319.00 million. Commerce Bancshares reported sales of $290.56 million during the same quarter last year, which indicates a positive year-over-year growth rate of 7.6%. The company is scheduled to report its next earnings report on Friday, October 13th.

According to Zacks, analysts expect that Commerce Bancshares will report full-year sales of $312.74 million for the current year, with estimates ranging from $1.22 billion to $1.27 billion. For the next year, analysts expect that the company will post sales of $1.30 billion per share, with estimates ranging from $1.27 billion to $1.34 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Commerce Bancshares.

Commerce Bancshares (NASDAQ:CBSH) last posted its quarterly earnings data on Thursday, July 13th. The financial services provider reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.05. The company had revenue of $305.89 million during the quarter, compared to analysts’ expectations of $309.44 million. Commerce Bancshares had a net margin of 23.79% and a return on equity of 12.01%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.70 earnings per share.

Several equities research analysts have commented on CBSH shares. Stephens restated a “hold” rating on shares of Commerce Bancshares in a research report on Monday, April 17th. Barclays PLC boosted their target price on shares of Commerce Bancshares from $54.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 19th. Piper Jaffray Companies decreased their target price on shares of Commerce Bancshares from $55.00 to $52.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 19th. Morgan Stanley boosted their target price on shares of Commerce Bancshares from $48.00 to $49.00 and gave the stock an “underweight” rating in a research report on Tuesday, June 6th. Finally, Jefferies Group LLC restated a “hold” rating and set a $61.00 target price on shares of Commerce Bancshares in a research report on Sunday, June 11th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $55.00.

Commerce Bancshares (NASDAQ:CBSH) opened at 55.22 on Friday. The firm’s 50-day moving average is $57.34 and its 200-day moving average is $56.49. Commerce Bancshares has a 52-week low of $45.37 and a 52-week high of $60.61. The firm has a market capitalization of $5.61 billion, a PE ratio of 20.01 and a beta of 0.81.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 25th. Investors of record on Friday, September 8th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Thursday, September 7th. Commerce Bancshares’s payout ratio is 32.64%.

ILLEGAL ACTIVITY NOTICE: This report was first posted by American Banking News and is the property of of American Banking News. If you are accessing this report on another publication, it was stolen and reposted in violation of U.S. & international copyright laws. The correct version of this report can be read at https://www.americanbankingnews.com/2017/08/13/commerce-bancshares-inc-cbsh-expected-to-announce-quarterly-sales-of-312-74-million.html.

In related news, Chairman David W. Kemper sold 10,132 shares of the business’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $57.83, for a total value of $585,933.56. Following the completion of the transaction, the chairman now owns 1,270,757 shares of the company’s stock, valued at approximately $73,487,877.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Jonathan M. Kemper sold 36,979 shares of the business’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $54.10, for a total transaction of $2,000,563.90. Following the completion of the transaction, the insider now directly owns 1,045,605 shares of the company’s stock, valued at approximately $56,567,230.50. The disclosure for this sale can be found here. Insiders sold a total of 48,099 shares of company stock valued at $2,643,431 in the last three months. 4.30% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in shares of Commerce Bancshares by 5.0% in the second quarter. Dimensional Fund Advisors LP now owns 924,115 shares of the financial services provider’s stock valued at $52,520,000 after buying an additional 43,967 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of Commerce Bancshares by 3.7% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 16,605 shares of the financial services provider’s stock valued at $944,000 after buying an additional 600 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in shares of Commerce Bancshares by 7.3% in the second quarter. Parametric Portfolio Associates LLC now owns 199,758 shares of the financial services provider’s stock valued at $11,352,000 after buying an additional 13,643 shares during the last quarter. Advisor Group Inc. increased its position in shares of Commerce Bancshares by 2.4% in the second quarter. Advisor Group Inc. now owns 5,023 shares of the financial services provider’s stock valued at $250,000 after buying an additional 120 shares during the last quarter. Finally, Suntrust Banks Inc. increased its position in shares of Commerce Bancshares by 35.3% in the second quarter. Suntrust Banks Inc. now owns 7,793 shares of the financial services provider’s stock valued at $442,000 after buying an additional 2,035 shares during the last quarter. 62.13% of the stock is owned by hedge funds and other institutional investors.

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.

Get a free copy of the Zacks research report on Commerce Bancshares (CBSH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

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.